Commercial Law (Business Law)
Commercial law, or business law, is the law which governs business and commerce (trading). It concerns the conduct and rights of companies and individuals involved in trading. Its objective is to deal with any issues that come up during the running of a business.
When these disputes arise, they will be taken to Court if previous attempts at resolution have proved unsuccessful. Mediation is one possible method to find a mutually agreeable solution out of Court.
Commercial law is generally regarded as being a branch of civil law, managing both
public and private issues. Several legal aspects are regulated by commercial law, such as hiring practices, corporate contracts and the manufacturing and selling of consumer goods.
The aim of commercial law is to ensure all business dealings that are completed are fair and just. This encourages businesses to operate, because they know they have legal protection from a clear set of rules, and there are strategies in place for if something goes wrong.
Civil codes have been introduced in many countries, detailing the aspects of their commercial law. It is thanks to these laws that people are protected whilst they trade, and any wrongful acts can be dealt with. In the United States, Congress uses its power to regulate commerce between states, and each individual state then uses their police force to regulate commerce in their state.