Business law serves two main purposes. The first is to protect a business from both internal and external factors like intellectual property theft, competitors in the marketplace, and many other possible issues. The second is to make sure that a business, like all companies, is following proper regulations in terms of employment, tax codes, and more. Correctly following the channels of business law can save business owners both time and money. Above all, a lawyer’s role is to make sure a company is in line with and protected by business law.
There are many types of business laws that serve the complex dynamics of starting and/or running a business. A qualified business lawyer can help businesses at any stage. These stages range from business formation to intellectual property protection, to defense against a lawsuit.
What are the types of corporate law?
There are many ways that corporate law can protect a company and keep the marketplace one of fair and equal opportunity for all. In other words, the multiple facets of corporate law ensure compliance with important state and federal regulations. These regulations include taxes, employee rights, binding contracts, and financial transactions.
Commercial law, or corporate law, aids in the formation and operation of a business. There are many avenues of corporate law. For example:
- Employment Law
- Contract Law (drafting, negotiation, litigation, etc.)
- Immigration Law
- Tax Law
- Antitrust Law
- Intellectual Property Law
- Bankruptcy Law
- Financial Transaction & Consumer Goods Sales
- And more
This list is not exhaustive. However, it does cover the basics of the types of business law. Therefore, consulting with a lawyer can help you and your lawyer understand the best way to address your business’ needs.
Our team at Fausett Law is prepared to ensure compliance and provide defense against a wide range of legal business formations, issues, disputes, or dissolutions. For more information on our qualified team, visit our attorneys’ page.
The list of business laws every company should know
The above discusses the types of business law. However, there is also a list of business laws every company should know. Nonetheless, it’s still important to consult with your lawyer after reviewing this list. It is impossible to anticipate every need a business could face in a single list.
- Employment and Labor laws
- Business Licensing
- Insurance laws
- Taxes relevant to your business and/or industry and location
- Employee privacy
- Bankruptcy
- Intellectual Property Rights – such as patents, trademarks, copyrights, etc.
- Data Security
- Antitrust laws
- Advertising and Email Marketing laws
- And more
For a consultation that addresses your business’ specific needs, please give us a call or fill out our form to get started.
Important Branches of Commercial Law
The branches of commercial law that are most important to a business will depend on the industry, location, and overall operation of that business. Identifying the main areas of products or services that your company specializes in can help you and your lawyer narrow the scope of relevant business laws to focus on.
At the Law Offices of Lora Matthews Fausett, P.C., our team is dedicated to identifying business laws your company should be aware of. We can ensure compliance with all relevant regulations, and defend your business against litigation or intellectual property theft. We specialize in entrepreneurs, investors, and small and midsized companies throughout the Chicagoland area in a wide array of business law matters.
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