What is Business Law?
Business law encompasses all legal matters related to forming, operating, and dissolving businesses. It includes entity formation, contracts, employment, intellectual property, regulatory compliance, and dispute resolution. Proper legal structure and compliance protect personal assets and ensure smooth operations.
Business Entity Types
Sole Proprietorship
- ✓ Simple setup
- ✓ Complete control
- ✗ Personal liability
- ✗ Limited growth potential
LLC
- ✓ Limited liability
- ✓ Tax flexibility
- ✓ Fewer formalities
- ✗ Varies by state
Corporation
- ✓ Strong liability protection
- ✓ Easy to raise capital
- ✗ Double taxation (C-Corp)
- ✗ More formalities
Partnership
- ✓ Pass-through taxation
- ✓ Shared resources
- ✗ Joint liability
- ✗ Partner conflicts
Key Business Law Areas
Contracts
- Sales agreements
- Service contracts
- NDAs and confidentiality
- Partnership agreements
- Vendor contracts
- Employment agreements
Intellectual Property
- Trademarks: Brand names, logos
- Copyrights: Creative works
- Patents: Inventions
- Trade secrets: Confidential information
Regulatory Compliance
- Business licenses and permits
- Tax obligations
- Employment law
- Industry regulations
- Data privacy (GDPR, CCPA)
Common Business Legal Issues
- Contract disputes
- Partnership disagreements
- Employee issues
- Customer complaints
- Intellectual property infringement
- Regulatory violations
- Business dissolution
When to Hire a Business Attorney
- Entity formation
- Contract drafting/review
- Buying/selling a business
- Raising capital
- Intellectual property protection
- Employment issues
- Litigation
- Regulatory compliance