Business law includes all laws that dictate how to form and run a business. Various state and federal laws govern how businesses are created, taxed, bought, sold, and managed. Understanding business law is helpful whether starting a new business, maintaining an existing business, making an investment in a business, or buying or selling an interest in a business.
Business law can be incredibly complex due to how many different areas fall under the category. Generally, business law areas are:
Nearly every aspect of a business, from startup to dissolution, will be affected in some way by a set of state and federal laws. The laws that apply to a business depend on how the business is organized. For instance, the requirements for creating a new business will greatly differ if you choose to organize a business as a corporation, a limited liability company, a partnership, or a sole proprietorship.
The laws of each state will help determine the type of business organization structure most appropriate for a business. Both state and federal business and commercial laws regulate requirements of employment decisions, sales contracts and negotiations. Finally, federal laws will control certain mandatory disclosures and the sale of securities.
Specific areas of business law:
The laws that govern businesses can be extremely complex and vary widely from state to state. Consulting an experienced business lawyer is the best way to safeguard your business’ financial interests. A skilled attorney can help you address a variety of needs, including choosing a formation for your business, addressing federal and state tax issues, or acquiring a new business acquisition.
Last Modified: 07-21-2017 01:37 PM PDTLaw Library Disclaimer
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