What is Business & Corporate Law?

Business and corporate law refer to the laws and regulations that govern the creation, operation, management and dissolution of a business or corporation. These laws are essential for ensuring that businesses operate legally and ethically and protect the rights of all parties involved, such as shareholders, customers and employees, as well as the general public. Corporate law is concerned with the legal formation and functioning of corporations. A corporation is a legal entity that is separate from its owners (shareholders) and has certain rights and obligations. Corporate law governs the process of forming a corporation, including the registration, issuance of shares and the formation of bylaws that determine how the corporation will operate.

 When starting a business, there are several legal entities that may be formed, such as a C-Corporation, an S-corporation, a Limited Liability Company, or a Partnerships. Each entity is legally distinct, and the choice of an entity has its own liability, asset protection, and tax implications. Contract law is the process of creating, interpreting, and enforcing a contract between two or more parties. Contracts are the legal terms and conditions that define the rights and obligations of each party involved in a commercial transaction.

 Corporate governance is the system and procedures that manage and control a corporation. It includes the role and duties of the directors, officers and shareholders, and the mechanisms for making decisions and being held accountable. Corporations must conduct themselves in an ethical manner, just as individuals do.