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Business Law: Scope, Nature and Main Areas , Oct 2018

By : Abram Scharf Posted October 8, 2018 Reading Time: 2 minutes
No. of views: 65

Do you know the true definition of business law? It is just a design management use to run a business but a purpose to provide an enforceable and clear-cut set of rules and regulation to avoid legal issue and conflicts. Regardless of size, it is the responsibility of both small and big businesses to follow the law and stay at the good side. But not every business cannot comply with laws by its own and take a lawyer to do it on their behalf. In short, every business needs a lawyer to compliance with the law which is the main reason why with each passing year more and more student are enrolling themselves in the business law. At one point or another student must have a doubt in their mind regarding the scope of business law? In the following article, we are going to throw some light at the topic and also learn that why students need business law assignment help.

The Scope of Business Law

The business law is a branch of law which deals with the set of governance rules related to certain business transactions and relations between business representatives, dealers, customers, and suppliers.

Commercial suit It refers to the suit between bankers, merchants, and traders relating to mercantile transactions.

Nature of Business Law

The nature of business law depends on the location of the business and its area of activities. Apart from these two conditions governance authority also affects the nature of the law. The main areas included under the business law are:

  • Starting a business
  • Taking over/ buying a business
  • Managing a business
Let’s dig further to find out more about the above heading.

Starting a Business

The business laws are applicable to all types of business organizations. There are certain rules for each business entities including corporations, limited liability, partnership and more. For instance, let’s assume you want to start a business but what type of business it would be? And what papers you need to file for it? After this what are the certain legal rules you need to follow or how to pay the taxes? To answer all this question you need to hire a business lawyer. The hire lawyer can help you with intellectual property law which includes patents, copyrights, trademarks and other intangible assets. Along with intangible assets the lawyer will look after the business like consumer protection law, licensing and permits.

Taking Over/ Buying a Business

Now, not everyone starts with buying a business some goes for taking over or buying an existing one. When it comes to buying or taking over an existing business the company need a lawyer to deal with contracts, employment laws, real estate laws and consequences after the breach of contract.

Managing a Business

Running a business is not an easy task as there are several aspects that are involved in managing a business. As you already read mention a business involves lots of contracts, joint-ventures and employment laws. The government of the country create and enforce the federal laws on the business. To deal with all of these aspects the company needs a business lawyer. Although it may sound appealing to become a business lawyer it is not as easy as it sounds. Students pursuing their degree need assignment help on business law to deal with their writing tasks as they are already juggling with practical tasks in the hand. Still, in the end, we could say the future of business law is very bright.