Business law
Business law (also known as Commercial law) is the body of law which manages business and commerce. It is a branch of civil law and deals both with issues of private law and public law. Business law regulates company contracts, hiring practices, and the produce and sales of consumer goods. It provides a legal structure within which businesses are created and organized as well as how business is conducted. Business law covers a wide diversity of topics connecting to the law of agency, corporations, societies, limited partnerships, franchises, and limited liability companies. It includes such issues as fiduciary relationships, closely held corporations, divides and stockholders, directors and officers, dissolution and receivership, franchise relationships, organization duties and liabilities, mergers and acquirements, securities, and antitrust.
Many countries have approved civil codes which include complete statements of their business law. In the United States, business law is the province of both the United States Congress under its power to regulate interstate commerce and the states under their police power. Efforts have been made to construct an integrated body of commercial law in the US; the most successful of these attempts has resulted in the general approval of the Uniform Commercial Code.
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