It is essential for those who work in the area to know some basic concepts of this branch of law. After all, these are the rules that will be applied to their professional activity, and it is necessary to comply with them to avoid applying penalties. But, in addition, it is also essential to know how these laws can be used in favor of your business, and what better way to find out about them, right?
If you want to know more about this discipline and how it is applied in practice, check out now the things you need to know about Business Law at sequoia legal, llc!
What Is Business Law?
Business Law is a branch of Private Law that studies and regulates the activities of business companies and entrepreneurs. Thus, all the rules applicable to business activity, that is, that professional economic activity organized for the production and circulation of goods and services, are studied in this area of law: rights and obligations of partners, types of society, intellectual property, titles of credit, bankruptcy and company recovery, etc.
Branches Of Business Law
Business Law also has other small sub-branches dedicated to studying specific areas of business activity. For example, in the general part, the concept and basic principles of business law are studied: what a company is, how it can be organized, what names it can use, among others. In corporate law, on the other hand, the forms of society are studied more specifically: corporation, limited liability company, simple, in participation account, and its constitution and closure.
Several laws make up this branch of law, but the main one is the Civil Code, even though the Commercial Code is in force in part. The Civil Code is responsible for regulating the vast majority of personal relationships, those of which the Government is not a party, and reserves several chapters to deal specifically with business activities.
But it is not just legal scholars at sequoia legal, llc who should be concerned about knowing Business Law. It is also essential that the entrepreneurs and partners are familiar with at least some basic concepts of this branch of law, as this allows them to manage their businesses following the law and its principles.
In addition to avoiding fines and other penalties for non-compliance with rules, managers can also benefit from some tools created by the law when knowing the rules of Business Law. This is the case of tax incentives offered to companies that act following the principle of protecting the environment, provided for in our Constitution, which we will talk about later.