Business Law is an essential practice in setting up and managing business. It covers areas of business, commerce, and consumer transactions. Business law regulates corporate contracts, hiring practices, manufacturing, trade and sales of consumer goods. Also, it often applies to business relations; it regulates parties’ rights, code of conduct, and terms and conditions of mutual cooperation, which are usually stated in corporate agreements. Writing a research paper in business law can be tricky and complicated due to the study area specifics. Commercial laws and regulations are constantly changing and evolving. Thus, it is essential to be updated with the latest commercial and legal developments. Business law has developed into different areas, and sometimes it can be difficult to select a subject for a research paper. This article outlines several areas of business law that could be addressed while writing a research paper.
Contract is an essential practice in business law. It is an agreement between two or more parties with one or more legal obligations between them. Business entities should comply with the law before setting up an enterprise. Usually, it requires assistance of business law attorneys and all legal documents are filled in with their presence. The primary purpose of most entities is to shield owners from individual liability. Cooperating with business law attorneys at the inception of the business will help to address the details of internal and external business agreements and protect personal assets. Contracts need to be designed with care as they regulate how the company’s owners will share profits and losses. Also, contacts determine the decision makers and ownership rights. A thoroughly developed agreement may save a lot of money and time in courts.
Advertising & Marketing Law
Promotional practice is essential for any business, it includes a vide range of activities like advertising, direct sales, direct marketing and promotions, public affairs. Business law regulates these activities. It is important to make sure that advertising activities comply with the law and are being truthful, not deceptive. This includes health and environment claims, endorsements, advertising to children and labels attached to a product. For a direct marketing, companies should check whom they could call and send emails. When implementing online marketing methods, it is important to get acquainted with rules and law on online advertising. Online advertising evokes a lot of unsolicited emails and creates a serious problem for consumer privacy. Also, when companies plan to advertise online by advertising in search engines, specific rules apply. For instance, companies must offer the possibility to remove the ad or to unsubscribe from the list. Nevertheless, it is important to check the law and rules for specific industries such as real estate, clothing, alcohol, appliances, etc.
Employment & labor law
Hiring employees and creating a favorable working environment for them is a whole new area for compliance. Before hiring people and building a first team, company has to study the laws and regulations of employment and labor carefully in order to develop effective human resources management. This area includes discrimination policies, wage and hour regulations, worker’s compensation packages, safety and health standards, retirement rules, work authorization for expats and employment contracts. Different laws are applied to different businesses and industries, and usually they differ per state.
Nowadays, most of the companies operate internationally and use Internet to access global market place. There is a bunch of regulations that need to be checked out before planning international sales. Business should address the shipping regulations, which include taxes, duties, customs laws, and consumer protection issues involved with international commerce. It is necessary to check out export regulations and how to protect consumer information on the Internet.