Business law, also known as commercial law, is a broad area encompassing all the laws that dictate how to form and run a business. It includes laws governing the following:

• Starting a business
• Buying, selling, and leasing commercial property
• Intellectual property
• Sales
• Bankruptcy

Business law includes both state and federal laws. Because business law is such a broad area, there are many different types of lawyers that specialize in it.

For example, some specialize in contract law, while others specialize in real estate, intellectual property, or bankruptcy law.

Business law aims to maintain order, protect rights and property, and resolve disputes in the business world.

Sources:

• Business Law Definition - Cornell Law School