Commercial law, sometimes called commercial law or mercantile law, is the body of legislation which applies to the rights, privileges, duties, and contracts of persons and companies engaged in commercial activity, merchandising, business, and trading. It is also commonly considered a branch of criminal law and usually deals with issues of public and private law. Thus, it has the power to decide disputes between individuals, companies, the government, other businesses, and the legal systems of various nations.
For commercial entities, commercial law is comprised of three bodies: corporate law, which look into the details of the shares and stock ownership; economic law, which look into the implementation of laws concerning economic activities; and corporate legal practice, which look into the details of contracting with other companies. The main function of these branches of commercial law is to create laws and procedures that will help protect the rights of commercial entities. In addition, they also decide whether a company is making an ethical mistake by engaging in certain activities.
Today, most countries have developed their own commercial laws. These laws are implemented to govern various aspects of commercial transactions and businesses. One of the major objectives behind these laws is to ensure fair competition among companies in a given market. They also provide protection to small business owners and even employees who may be affected by unfair business practices. These laws aim to provide security to businesses regardless of their size or economic status. For instance, in Spain, business entities must follow the Spanish Law on insolvency.
There are two main bodies of commercial law in Spain. These include the courts of equity and the mercantile courts. The mercantile court hears disputes involving commercial matters such as debts, land, and corporate interests. The courts mainly deal with disputes between economic competitors, but they can also entertain cases concerning the relationships between an enterprise and its suppliers.
The commercial litigation court is the place where businesses get their disputes settled. Most disputes that arise in Spain are settled in this body due to the complexity of the business law system. The majority of businesses that engage in transactions all over the country prefer to go through their own legal representatives. Nevertheless, commercial litigants all over the country now choose to go through attorneys.
Commercial litigants can hire attorneys who are specialized in different aspects of their business law needs. Some of the areas where businesses normally need legal assistance are procurement contracts, contractual negotiations, commercial leases, real estate property transactions, acquisitions, mergers, divestitures, management changes, and ownership structures. Furthermore, attorneys specialized in business law can also represent their clients in business arbitration and dispute resolutions. Arbitration is a procedure in which business owners attempt to settle their disputes without going to court. Dispute resolutions, on the other hand, allow parties to resolve their disputes by negotiating with each other regarding payment terms, resolving the issues behind arbitration, or annulment.
There are a lot of other specialized fields of expertise where the expertise of the attorney working in the business law firm is needed. These include corporate governance, labor law, environmental laws, intellectual property laws, and family laws among many others. The attorney can help businesses that have to comply with employment laws such as labor laws, regulations on equal employment opportunity, minimum wage laws, employer’s liability, worker’s compensation, occupational disease laws, workers’ compensation, red Tape laws, and other employment related laws. He can also assist businesses that have to comply with immigration laws such as immigration laws that regulate the hiring and promotion of workers and the spouses of workers, the employment authorization and abuse, and workers’ compensation. Furthermore, he can help businesses that have to comply with health and safety laws that regulate product and equipment hazards, safety standards for the operation and maintenance of various types of businesses, food and safety regulations, and regulations regarding the construction and use of buildings and health hazards.
Business attorneys are highly specialized attorneys that help businesses deal with a wide range of legal matters. They can give sound legal advice to businesses that need help in various matters. In fact, legal advice is not just offered by attorneys. Many organizations conduct seminars on legal matters to help businesses make better decisions and receive optimal benefits from the use of legal practices.