Business law, also called commercial law or transactional law, is the specialized body of law which applies to the transactions, relationships, and rights of individuals and companies engaged in commercial activity, trade, selling, purchasing, hiring, and so on. It can be considered a separate branch of law from other types of legal law.
The laws that apply to commercial activities and transactions are called torts. Torts refers to any type of civil wrong done by another person or company that has been brought about by the activities of a commercial business or a business owner.
These are some of the most common kinds of legal disputes and they include personal injuries, product liability, breach of contract, and fraud. Other types of torts include intellectual property rights, contract disputes, contract interpretation, labor disputes, political controversy, product liability, and trademarks. Most business owners, especially those with limited liability, prefer to deal with their legal issues through a business attorney.
In addition to these cases, business owners who do not have enough resources to hire legal representation may opt to hire a business mediator to help them settle their business disputes. A business mediator’s job is to mediate between the parties to a dispute. For example, if one business owner files a lawsuit against another business owner for the same product or service, a business mediator would help the business owners to settle their differences in a more amicable manner.
In addition, a business owner who wishes to pursue a claim in court may hire a solicitor or an attorney. An attorney is an experienced professional whose sole responsibility is to represent the interests of the business owner in court. An attorney specializing in business legal matter may be the best choice for people who want to protect their own interests but have limited financial resources.
An attorney may also be the best choice for people who cannot afford a legal representative but still desire to hire one. Attorneys are well trained in the law and can offer legal advice to their clients. However, it is important to note that many attorneys charge their fees after they get their legal work done for their clients. An attorney cannot be as involved in the negotiations of a contract as a business owner, because an attorney must have a special skill and authority to interpret the contract laws that apply to the specific case that a client has filed.