Business Law
Business law is a broad area of law that deals with many different aspects of doing business. This includes business operations, corporate governance, property law, and tax law. Also known as commercial law, business law applies to companies and people involved in any type of commerce. Business law can involve anything from sole proprietorships to massive multinational corporations.
If you have questions about any aspects of business or corporate law, talk to an experienced business law attorney for legal advice.
Business Formation
When you want to open a business, one of the first steps is deciding on the type of business entity. There are many business structure options, including:
- Sole proprietorship
- Partnership
- Limited liability company (LLC)
- S-corporation
- C-corporation
- B-Corporation
Each business type provides varying levels of protection against personal liability for any business losses. They also have different reporting and tax requirements. As a new business owner, you will want to have a business attorney help you determine the right business structure.
Starting a Business
People who are starting a business must familiarize themselves with all of the legal requirements for their type of business. Some businesses require specific licenses. Other companies may only be able to operate in certain areas due to local zoning laws and ordinances. Other regulations your business may need to deal with include:
- Environmental protection laws
- Workplace safety laws
- Corporate finance laws
Real Estate Negotiations
Real estate can be a significant issue in commercial law. Commercial lease agreements are often more complicated than residential leases. Commercial real estate contracts may involve long-term leases of five years or more. There may be restrictions on when the business can operate and modification limitations. As the business owner, you may also need to hold the property owner accountable for building maintenance and security.
Business Planning
Most business owners need to draft some form of business plan. Lenders often require plans before they will provide financing for businesses. Some small-business owners write these plans on their own. However, if you are using your business plan to get financing, business lawyers can help with drafting and reviewing business plans.
Business plans can be part of a private placement memorandum. This is a disclosure document used to solicit equity capital from investors. Offering securities is highly regulated by both federal and state law. You must follow strict procedures when drafting these securities documents so they comply with federal laws.
Business Contracts
Business contracts play a large role in how most companies operate daily. In a standard business contract, one party agrees to do something for the other in exchange for “consideration,” which is generally money.
To form a contract, one party must make an offer that the other party accepts. Contracts normally specify which party will perform a duty. They may detail deadlines for completion, product delivery, and other matters.
Business contracts can involve anything from the sale of goods to employment law contracts. When there is a dispute involving business transactions, talk to a contract law attorney.
Business Litigation
Business litigation involves disputes that go through civil court for resolution. Business litigation could involve customers, employees, or other businesses. Business disputes can cover a variety of matters, including:
- Employment disputes
- Discrimination complaints
- Contract disputes
- Breaches of fiduciary duty
- Intellectual property infringement
Some disputes can be resolved through informal negotiations, mediation, or arbitration. Others involve lawyers and business litigation in court. Resolving a dispute is often a complex process, and the outcome depends on the facts and details of the specific dispute.
Get Legal Advice From a Commercial Lawyer
This page provides an overview of business law, but it does not cover all areas of business practice. Depending on your business operations, your company may need legal help with:
- Negotiating commercial transactions
- Mergers and acquisitions
- International trade requirements
It is important for business owners to understand different areas of law that intersect with running a company. You can avoid many legal issues with proper planning and advice from legal professionals. If legal disputes arise, you can talk to an experienced commercial law attorney to find out about your legal options.
Additional Business Law Articles
- Anti-Spam Laws
- Business Law Overview
- How to Name Your Business
- The Legal Steps to Starting a Business
- An Overview of the Uniform Commercial Code
- What is the Retail Installment Sales Financing Act?
- Breach of Fiduciary Duty
- What Are Negotiable Instruments?
- What is equity financing?
- What Should Be Included in an Employee Handbook?
- What is debt financing?
- Letters of Intent and Term Sheets
- How Do I Resolve a Dispute Regarding Billing, Quality of Repairs, or Warranties?
- How to Deal with Common Disputes of Family Owned Businesses
- What is the U.C.C.?
- Due Diligence in Business Mergers and Acquisitions
- How Can a Business Law Attorney Help You Dissolve Your Business?
- Being Squeezed out of a Family Owned Business?
- The Sarbanes Oxley Act: Success or Failure?
- The Board of Directors Duties of Care and Loyalty
- Common Contract Terms Explained
- Business Finance Laws
- Advertising Your Business on the Internet
- Are There Any Limits on Executive Compensation?
- Laws and Rights for Street Vendors
- How and Why You Should Prepare a Profit and Loss Statement For Your Small Business
State Business Law Articles
- Arizona
- California
- Florida
- Georgia
- Illinois
- Indiana
- Louisiana
- Maryland
- Massachusetts
- Michigan
- Missouri
- New Jersey
- North Carolina
- Ohio
- Pennsylvania
- Tennessee
- Texas
- Virginia
- Washington
- Wisconsin