What is Commercial Law?

Commercial law- also known as business law- is a body of law that governs business and commercial transactions.

The purpose of commercial law is to ensure that businesses and commercial transactions are conducted fairly and in accordance with the law.

Commercial and business laws govern the formation, operation and termination of businesses, as well as the sale, purchase and other transfer of goods and services. It also regulates the advertising and marketing of goods and services.

Different branches of commercial law

• Contract law: regulates the formation and enforcement of contracts
• Property law: governs transactions relating to the property including sales, lease, transfer and rental
• Corporate law: deals with the formation, management and dissolution of corporations
• Business regulations: laws governing businesses and their workers
• Tax law: covers the government levy of taxation on business transactions (direct and indirect)
• Intellectual property law: protects the patenting of inventions and the copyright of creative work

What is the difference between commercial law and corporate law?

Commercial law is a broader term, covering all the legislation relating to businesses, their workers and their customers. It is largely focused on giving legal protection to the transactions between those parties.

Corporate law can fall under the umbrella term of commercial law, but its emphasis is on the corporations themselves- artificially-created entities, treated by the law as a legal person. How they are formed, structured, governed and (eventually) dissolved.

Basically, corporate law has to deal with the company itself (as an entity), while commercial lawyers and commercial law firms deal with their interactions with other companies and their clients.

Ajak is a commercial law firm with a wealth of experience and expertise. If you require legal representation or advice in any aspect of commercial law, give us a call today.