Business law is the study and practice of law around the business world. Learn more about the multiple areas of business law dealing with several topics today.2 min read
What is Business Law?
Business law consists of multiple areas of law dealing with the interactions between a business, its employees, the government, the public and other companies.
Areas of Business Law
A few basic areas of law that businesses have to deal with are: contracts, corporations, tax, intellectual property, and employment law in addition to many others.
How Business Law Attorneys Help
Business law attorneys typically specialize in transactional work, meaning that they do not litigate or represent clients in court. Attorneys in the business law field are actually hired to avoid future litigation.
Depending on what type of business you form will determine whether the law treats your business separate from you as a person. Individual liability will then be created as if the business was never there or liability will be put on the business as its own separate entity.
Some commercial transactions are within the ability of the business owner to handle on their own. Others are not, especially when a deal touches on a complicated and evolving area of the law such as securities regulation or internet-commerce. The more heavily-regulated the industry, the more companies will rely on their general counsel to research the newest laws on the issue.
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