Business law, also called commercial law or corporate law, is the body of legislation that applies to individuals and companies engaged in commercial activity, dealing, merchandising, and selling. It is frequently regarded as a subdivision of public law and is concerned with matters of both public and private law. The term has several different meanings in common use. In business law, however, the term refers only to those laws and practices that affect the conduct of businesses. This article briefly discusses some of the major areas of business law.
The authorities that regulate commercial transactions include state and local governments at both the federal and state level. Some jurisdictions also provide for a national body, the World Trade Organization, which oversees commercial affairs on a national level. Other bodies of regional importance are the World Intellectual Property Organization and the World Health Organization. The Organization for Economic Co-operation and Development (OECD) is an international organization that promotes global economic policies based in sustainable economic growth. Private organizations that specialize in economic issues also contribute to the development of commercial laws and practices. These include think tanks, international investment institutions, business planning organizations, and legal professionals who deal with economic issues.
Many laws and regulations are designed to protect the interests of business owners. Regulations can address issues such as hours of operation, advertising, contract terms and conditions, employee health and safety, tax, licensing, corporate finance, management and leadership, marketing, technology, mergers and acquisitions, rail transport, telecommunications, and pollution. Many of these issues can apply to all businesses, but some will be more important for certain types of businesses. For instance, it would be difficult for retailers to abide by hours of operation laws if their businesses were located outdoors. Similarly, businesses that manufacture chemicals would find it very difficult to operate if there were strict regulations governing the way they stored and marketed their products.
Business law is also commonly considered when making civil law matters such as claims of employee discrimination or wrongful termination. Civil law can be divided into criminal law and civil/domestic law. Criminal law involves criminal cases such as murder, rape, robbery, arson, embezzlement, conspiracy, perjury, theft, fraud, and assault. Civil law involves matters such as contractual disputes, property disputes, torts, corporate contracts, intellectual property law, family law, and negligence.
There is a difference between civil and criminal law. Civil law deals with disputes between private parties. For example, if two corporations engage in a contract, the dispute is based upon the breach of the contract rather than on the merits of the contract itself. Civil law is very broad in United States, as it covers all disputes between private parties.
When it comes to employment laws, the United States has many areas that are unique to this country. For example, many areas regulate the duration of an employment contract, as well as the types of hours employees can work. They also regulate holidays, medical benefits, and other employment-related areas. Many states have employment laws that are referred to as “green laws.” These laws protect employees from environmental issues, such as pollution.
Because there are several kinds of business law, it is important for businesses to hire several kinds of business lawyers. The best kind of lawyer to hire is a business lawyer who specializes in the area of law in which your business is operating. For example, if you are operating a business selling books, you will want to hire a bookkeeper. In order to do business in several kinds of locales, businesses should hire local business lawyers to handle cases in those locales. Hiring lawyers who know the local laws for doing business in a particular place can help you save time and money, allowing you to do your job better.
Business lawyers can be found in several different types of law firms. Some law firms focus on real estate transactions, while others focus on mergers and acquisitions. There are some law firms that focus on intellectual property, while others focus on contracts and negotiations. A business lawyer who knows the area in which his or her firm works best will be better able to represent you in your transactions.