Business law one of the more comprehensive areas of the law. Some issues that fall under the purview of business law include pensions and benefits, labor law, employment law, bankruptcy, tax law, intellectual property, securities law, business organizations, antitrust law, secured transactions and trusts and estates.
The various categories of business law forms the underpinning of the way in which America runs on a day-to-day basis. Business law addresses contracts, public offerings, mergers and acquisitions, construction contracts, civil litigation, entity formation, business disputes, compliance and more. Business law governs how companies set up their businesses from start to finish and provides a framework for how companies may legally conduct business in the United States.
Business law is also referred to as commercial law, largely because it impacts anything relating to commercial and business transactions. It is important to understand the ways in which different types of entities relate to each other and to investigate what type of business structure, such as C-Corp or S-Corp, will best fit with the goals of the company. Such choices have far reaching implications on how a company will be run, who will be liable in the case of a lawsuit and how the business will be taxed and regulated.