In today's market place, businesses not only have to contend with market forces, but they also have to comply with regulations and protect themselves against any number of potential legal liabilities.
Business law deals with the creation of new business and the issues that arises as existing businesses interact with the public, other companies, and the government. This area of law draws on a variety of legal disciplines, including tax law, intellectual property, real estates, employment law, bankruptcy and others. To understand the role of business law within the legal system, it helps to view businesses as entities separate from their owners and employees. Just like individuals living together in society, business entities are subject to legal rules designed to give every participant in the marketplace a fair opportunity to succeed.
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