Let's Know About
Business refers to the economic activity of producing and selling goods and
services. A business utilizes man, money, material, and machinery to create
goods or services and then uses various ways to sell them.
What is business?
What is law?
The arrangement of rules which a particular nation or society perceives as
monitoring the actions of its individuals and which it may implement by the
imposture of damages.
Business Law consists of two independent words: business and law.
What is business law?
Business law is a body of rules. It governs the transactions between persons in
merchandising matters, whether by protocols, compliance, or national or
international constitution. Business law is also known as commercial law or
Various Business Laws
Business law comprises of various laws which are related
to different business activities such as selling of goods,
contract between parties, managing personnel, etc. These
different law combined help to ensure that every single
activity done in a business is controlled by rules and
8 TYPES OF BUSINESS LAW
Sales Of Goods Law
Contract drafting Law
Intellectual Property Law
Why do we
Every activity in this world needs to be done by proper
rules and regulations. If we break those laws, then we
have to pay the cost in return.
You must have heard, "When people accept breaking
the law as normal, something happens to the whole
To maintain healthy and corrupt free environment
business laws are very necessary. If there will be
guidelines (business law) then there will be less
mistakes and fraudulent activities.
Commencement of business.
Regulation of business
Safety of intellectual
Protects employee &
Provides business security.
Business Law as a subject