There has been a lot of confusion when it comes to differentiating between business law and corporate law. While corporate law focuses on legal aspects governing sale and distribution of goods, business law covers legal aspects used in acquisitions, mergers, formation of companies and rights of shareholders. Companies need people who have in-depth knowledge of both laws.
Regulation of Business and Corporate Law
The federal government and the states play different roles in regulation of business law. The federal government controls the purchase of stocks, and workplace security and safety while the state governments make additional laws depending on the necessity.
The Uniform Commercial Unit is the body that designs rules and regulations used to govern corporate law. The UCU has a model of laws used to control the purchase and sale of goods in the United States. States use UCU as a benchmark when designing additional laws that govern trade. Since most states have significantly modified the UCU rules, it is prudent you get an attorney who is well versed with the corporate laws of a particular state.
Major Difference between Corporate and Business Law
A significant difference between the two types of laws is that corporate law tends to provide guidelines used in the purchase and selling of items in the market. Corporate law affects businesses significantly. We have had o many businesses involved in legal tussles that revolve around the breach of crucial elements of corporate law. On the other hand, business laws employ a broader perspective of legal influence in business. Business law lawyers cover areas such as employment law, contracts and taxes. It is more common than corporate law.
With a clear understanding of business and corporate law, you can separate each category depending on your needs. It also gives you an opportunity to identify a suitable Coachella Valley corporate attorney.