Commercial law, also called commerce law or commercial law, is the body of legislation that applies to the legal rights, privileges, and duties of individuals and organization engaged in commercial activity, merchandising, business, and transactions. It is considered to be part of public law and is often thought of as a separate branch of civil law. Unlike civil law, the powers of a judge or public official exercising the powers conferred upon a judge in civil court are limited to cases arising out of that person’s official duties. Unlike private law, commercial law is not subjected to the principles of judicial review.
Training in commercial law helps one to understand and appreciate the intricacies of commercial law. It enables one to recognize the different areas in which a business operates and to formulate the appropriate legal positions. It teaches one to analyze the legal questions arising in commercial transactions and to draft appropriate legal documents. Moreover, training in commercial law helps one to become an expert in the various fields of commerce. One can become a commercial law lawyer or commercial law attorney by attending law school or passing an examination. Commercial law firms and attorneys have offices all over the country.
The field of commercial law addresses many issues that affect the commercial rights of individuals and organizations. A good commercial lawyer should be well versed in all the technical aspects of corporate law such as general corporate law, tax law, labor and employment law, intellectual property law, commercial law, international business, and more. He should be able to provide sound advice on important issues like the incorporation of a corporation, financing a business, mergers and acquisitions, franchise agreements, marketing agreements, maintenance of stocks, directorships, general partnerships, investment, sales, and commercial leases. He should be an effective communicator and able to persuade others to follow his legal opinion.
Commercial solicitors can choose to specialize in any of the branches of commercial law. General commercial lawyers work for either individual clients or large companies. They provide legal advice on contract disputes, worker’s compensation, collective bargaining, commercial leases, intellectual property, divorce, real estate property, commercial vehicles, trademarks, marketing plans, and more. Corporate lawyers help businessmen and organizations deal with different corporate problems.
Attorneys who have up-to-date research skills are highly sought after. These attorneys can work in research firms, assist corporate clients in performing research and analysis, prepare case studies, write persuasive letters, conduct interviews, provide legal advice on specific cases, conduct researches and investigations, and develop business strategies. Lawyers with up-to-date research skills and excellent writing skills are highly sought after by large law firms and corporate firms.
Commercial lawyers and solicitors can choose to specialise in any of the branches of commercial law. For example, some of the commercial law branches are: real estate, employment, contracting, advertising, commercial licenses and permits, criminal law, family law, trusts, financial law, international relations, consumer protection, government procurement, commercial litigation, labor and employment law, environmental law, international law, landlord and tenant law, family law, corporate law, banking law, securities law, franchise law, tax law, partnerships law, and patent law. There are many more branches of commercial law.
One branch that is increasingly popular among small businesses is contractor and employee law. A contractor is a person who works for a company on a contractual basis and receives wages and other payments for the services they perform. An employee is an individual who works for a company on a permanent basis, performing tasks for that employer on behalf of that employer. The skills and abilities of each type of contractor and employee may vary, but both types are vital for companies who need them. Contractor and employee law deals with all the areas of the business relationship between the contractor and the company, such as: general agreements, work orders, budgets, payment terms and conditions, advertising and promotion, inventions, property and professional liability. Because many small businesses contract out jobs and services, contractors and employees have a significant effect on the success or failure of a company.
Another branch of commercial law is business contracts. Business contracts are the specific details of how a company or business works with another company. For example, if a company wants to buy a building, they will need to negotiate building contracts. Business contracts also cover the distribution of goods and services, property exchanges, leases and lending. If a business owner is unsure about how to begin negotiation for their commercial property, they should hire a commercial legal expert to help them with these proceedings.