A business and commercial attorney specializes in laws that govern business transactions.
They handle issues and concerns like things related to the sale and distribution of goods and services, the financing of credit transactions, and negotiable instruments.
There are different areas of business and commercial law. Some of them are:
Employment Law
This area of business and commercial law covers the employers rights and responsibilities towards their current and former employees. This also includes job applicants.
Employment law is very complex as it handles employer-employee relationships. That is why there are various federal and state laws that cover its different aspects like discrimination, harassment, wrongful termination, workplace safety, wages and taxation.
Contracts Law
A contract is a binding legal agreement that is legally enforceable by the court of law.
The contract may be in written or oral form, but as long as the goods or services are not illegal, it will be a binding legal contract. The only difference is that only written contracts have physical evidences and are thus easier to prove.
The law of contracts covers areas from proper formation of contracts to resolving issues regarding breach of contract.
Taxation Law
A tax is an enforced contribution and not a voluntary payment. This is charged by the government on the income of individuals, corporation, and the value of an estate or gift.
The generated tax is used as revenue to fund public needs.
Taxation involves regulations by the federal and state governments up to the local school district.
All business and commercial attorneys who specializes in taxation should be an expert on the Internal Revenue Code that contains the statutes on all federal tax laws such as income, estate, gifts and excise taxes.
The Internal Revenue Code is enforced by the IRS which is a part of the Department of Treasury.
Intellectual Property Law
The intellectual property law covers a variety of property created by musicians, artists, authors and inventors.This federal law covers the areas of copyright, patent and trademark laws.
This law is designed to encourage the development of art, science and information by giving property rights to creative people.
The law aims to remove the worry of artists and inventors by protecting their work from infringement and from unauthorized use of their works.
Business Formation and Corporate Law
A business and commercial attorney may also be involved in the formation of new business entities like joint ventures, limited liability companies, partnerships and corporations.
The most complex type of business entity is corporations.
Its complexity stems out from its unique trait of being a separate entity from its owners. Because of this a corporation can incur its own debt, be charged its own taxes and be legally charged separately from the owners.
Getting Help
These are just some of the areas covered under business and commercial laws. Not all business and commercial attorneys specialize in all its areas.
So if you are seeking legal assistance, you should hire an attorney who specializes on the field where you need help.
They handle issues and concerns like things related to the sale and distribution of goods and services, the financing of credit transactions, and negotiable instruments.
There are different areas of business and commercial law. Some of them are:
Employment Law
This area of business and commercial law covers the employers rights and responsibilities towards their current and former employees. This also includes job applicants.
Employment law is very complex as it handles employer-employee relationships. That is why there are various federal and state laws that cover its different aspects like discrimination, harassment, wrongful termination, workplace safety, wages and taxation.
Contracts Law
A contract is a binding legal agreement that is legally enforceable by the court of law.
The contract may be in written or oral form, but as long as the goods or services are not illegal, it will be a binding legal contract. The only difference is that only written contracts have physical evidences and are thus easier to prove.
The law of contracts covers areas from proper formation of contracts to resolving issues regarding breach of contract.
Taxation Law
A tax is an enforced contribution and not a voluntary payment. This is charged by the government on the income of individuals, corporation, and the value of an estate or gift.
The generated tax is used as revenue to fund public needs.
Taxation involves regulations by the federal and state governments up to the local school district.
All business and commercial attorneys who specializes in taxation should be an expert on the Internal Revenue Code that contains the statutes on all federal tax laws such as income, estate, gifts and excise taxes.
The Internal Revenue Code is enforced by the IRS which is a part of the Department of Treasury.
Intellectual Property Law
The intellectual property law covers a variety of property created by musicians, artists, authors and inventors.This federal law covers the areas of copyright, patent and trademark laws.
This law is designed to encourage the development of art, science and information by giving property rights to creative people.
The law aims to remove the worry of artists and inventors by protecting their work from infringement and from unauthorized use of their works.
Business Formation and Corporate Law
A business and commercial attorney may also be involved in the formation of new business entities like joint ventures, limited liability companies, partnerships and corporations.
The most complex type of business entity is corporations.
Its complexity stems out from its unique trait of being a separate entity from its owners. Because of this a corporation can incur its own debt, be charged its own taxes and be legally charged separately from the owners.
Getting Help
These are just some of the areas covered under business and commercial laws. Not all business and commercial attorneys specialize in all its areas.
So if you are seeking legal assistance, you should hire an attorney who specializes on the field where you need help.
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