{"id":357974,"date":"2016-04-04T10:46:18","date_gmt":"2016-04-04T15:46:18","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/hirealawyer\/choosing-the-right-lawyer\/business-and-commercial-law.html"},"modified":"2024-04-11T20:40:44","modified_gmt":"2024-04-12T01:40:44","slug":"business-and-commercial-law","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/hirealawyer\/choosing-the-right-lawyer\/business-and-commercial-law.html","title":{"rendered":"What Is Business and Commercial Law?"},"content":{"rendered":"\n
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What Is Business and Commercial Law?<\/h1>\n\n
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\n By Susan Buckner, J.D.<\/a> | Legally reviewed by Melissa Bender, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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Key Takeaways<\/h2>\n
Business and commercial law governs how companies are formed, operated, and how they buy, sell, and finance goods. A business and commercial law attorney helps owners navigate these requirements, protect their interests, and structure deals that meet state and federal legal standards.<\/div>\n\n <\/div>\n <\/div>\n<\/div>\n\n\n

Business and commercial areas of law often overlap, especially for businesses that manufacture or sell products and need guidance on contracts, transactions, and regulatory compliance. Because of this, most attorneys who practice one will also practice the other.<\/p>\n

There are many reasons small business owners need business or commercial law attorneys. A common issue these attorneys help with is setting up the business structure according to state and local laws. Even independent contractors and sole proprietors<\/a> can benefit from legal guidance that clarifies licensing requirements, contract obligations, and how to protect their personal assets.<\/p>\n

This article explains business and commercial law. Keep reading to learn more business issues these legal areas cover and how a lawyer in this field<\/a> can help.<\/p>\n

Business vs. Commercial Law<\/h2>\n

Commercial law focuses on the sale and distribution of goods and transaction financing. Business law focuses on the legal needs of forming a company and property issues such as leasing office space<\/a>. A business that sells products will need a lawyer with experience in both fields.<\/p>\n

Corporate law<\/a> is a subspeciality of commercial law and focuses on the legal matters of large corporations, such as mergers and acquisitions.<\/p>\n

State and federal law regulate business transactions. The federal government governs investments, workplace safety and employment laws, and environmental protections. States can add to these laws. States impose licensing requirements<\/a> and rules for forming and running a business.<\/p>\n

The\u00a0Uniform Commercial Code<\/a>\u00a0(UCC) is a model rule about the sales of goods. It is not a law. It is a set of guidelines on how businesses must make contracts to sell and transfer tangible goods.<\/p>\n

The UCC helps streamline business dealings between business entities in different states. Each state can make its own modifications to the laws as it sees fit. For this reason, hiring legal counsel<\/a> familiar with your state’s version of the UCC is important.<\/p>\n

Do I Need a Business and Commercial Lawyer?<\/h2>\n

Each industry has its own business law issues. A business attorney with experience in your industry<\/a> can give you legal help that also considers business ethics and industry practices.<\/p>\n

Many business owners and managers only hire an attorney when it is too late for the attorney to be much help. Negotiating the sales or transfer of goods without knowing the legal requirements under their state’s version of the UCC can lead to canceled contracts, lost profits, and legal penalties.<\/p>\n

If you’re facing a business or commercial legal issue, it’s critical to get legal advice early on. The right attorney can:<\/p>\n