ContractsCounsel Logo

Commercial Law

Updated: April 9, 2024
Clients Rate Lawyers on our Platform 4.9/5 Stars
based on 10,608 reviews
No Upfront Payment Required, Pay Only If You Hire.
Home Blog Commercial Law

Jump to Section

Commercial law also referred to as business law, oversees the rights of people and organizations involved in commercial activities. Furthermore, commercial law in the United States is divided into various areas, such as contracts, intellectual property rights, employment, and real estate.

Essential Aspects of Commercial Law

In some US states, a legal framework exists called commercial law or business law that governs how individuals and corporations that engage in commerce transact with each other. It covers areas such as contracts, employment laws, intellectual property rights, and real estate. The following are detailed explanations of certain aspects of commercial law:

  • Contract Law: Commercial law has an essential element known as contract law, which guides the creation, enforceability, and interpretation of agreements between parties. Moreover, these contracts may be made orally or in writing, although it is required by statute that certain types of contracts, like those dealing with goods sale or real estate, be put down in writing for them to be valid.
  • Employment Law: Another important part of commercial legislation is employment law, which outlines workers’ rights and duties, including wages, discrimination, and harassment safety, among others. Conversely, the United States has one of the most comprehensive laws regarding employment globally; hence, businesses operating within this state must always adhere to these laws to avoid any legal problems.
  • Intellectual Property Law: The law relating to intellectual property ensures protection for individuals or firms who develop patents, trademarks, copyrights, etc. Therefore, businesses should protect infringement by others from occurring on their intellectual properties.
  • Real Estate Law: Real estate laws pertain to ownership utilization and transfer of real property. This covers aspects such as leasing zoning construction, among others. Businesses must familiarize themselves with these requirements when undertaking commercial real estate transactions so as not to find themselves on the wrong side of the regulations.
  • Business Organization and Structure: Commercial regulation also encompasses statutes concerning setting up and organizing companies including terms about incorporation partnerships limited liability companies (LLCs). Businesses, therefore, should ensure compliance with applicable federal state statutes governing their organizational structure otherwise, they would lead to potential legal issues.

Accordingly, businesses must understand commercial law when operating within the United States. It is also used to protect intellectual property rights, manage legal risks in business transactions, and determine legal ways of conducting business. Consequently, businesses should know about the quality standards and procedures under each aspect of commercial law to avoid breaking the laws.

Importance of Commercial Law

Commercial law essentially governs how people and firms involved in commerce interact with one another. Here are some key points that elaborate on the significance of commercial law:

  • Protecting Business Interests: This body of legislation aims to ensure that companies’ interests are safeguarded legally. For example, it provides a framework leading to the creation of contracts, management of organizations, security for patents, etc. In addition, this helps lower operational costs by reducing bureaucracy while simultaneously minimizing any chances for litigation, thereby ensuring the smooth and effective running of enterprises.
  • Promoting Fair Competition: Commercial law, on the other hand, is aimed at ensuring equity in business by regulating the practices as well as preventing them from being anti-competitive. This covers mergers and acquisitions, pricing, and advertisements, among others. Through ensuring fair competition, commercial law makes sure that businesses flourish and consumers gain.
  • Maintaining Compliance: In America, commercial law guarantees the observance of legal requirements by businesses, given its complex regulatory environment. These laws include those relating to employment, taxes, and environmental regulations, among others. Commercial law has a role to play in helping companies avoid legal problems while maintaining their goodwill through compliance.
  • Resolving Dispute: For this reason, commercial law provides a dispute resolution framework when conducting business transactions between entities or individuals. This encompasses litigation, arbitration, and mediation. Additionally, commercial law prevents long and expensive legal battles by furnishing parties with a context within which disputes can be resolved.
  • Promoting Economic Growth: Commercial law is important for supporting economic growth in a country. It allows entrepreneurship investment and innovation by providing a set of rules within which businesses may operate and grow themselves. Consequently, this leads to employment creation, tax revenue generation, and overall betterment of the state.

Generally speaking, any company doing business in the US must be versed with what commercial laws are all about since they apply almost everything from transactional rules protecting business interests, ensuring healthy competition amongst producers, upholding compliance, resolving conflicts through litigation ADR mechanisms or recourse to courts settling disputes as quickly as possible.

Meet some lawyers on our platform

Sara S.

120 projects on CC
CC verified
View Profile

Daniel R.

128 projects on CC
CC verified
View Profile

Danny J.

7 projects on CC
CC verified
View Profile

Damien B.

12 projects on CC
CC verified
View Profile

Key Terms for Commercial Law

  • Contracts: A contract refers to legally enforceable agreements between two or more parties; it aims at governing their terms formation interpretation enforcement such as offer acceptance consideration fulfillment obligations;
  • Intellectual Property: Intellectual property means intellectual capital items such as inventions, designs, creative works, and so on; commercial law plays a role in trade secrets, copyrights, trademarks patents.
  • Business Organizations: Business organizations are legal structures like partnerships, corporations limited liability companies; their formation governance taxation and liability issues regulated by firms incorporated under commercial law;
  • Employment Law: In America, employment law governs employees' and employers' relationships in companies with minimum wage overtime discrimination or harassment while at the workplace. This helps prevent businesses from getting into legal trouble.
  • Real Estate Law: Real estate laws govern businesses in the ownership and disposal of real property. They include lease contracts and construction zoning rules; thus, when engaging in business activities involving buildings and lands, we have to adhere to provisions set in place.

Final Thoughts on Commercial Law

In a word, commercial law covers many aspects concerning business and commerce. Irrespective of whether it is about contracts or intellectual property matters, employment legislation does not leave any choice for an entrepreneur but to navigate through the complex and ever-changing legal environment.

Commercial legislation aims to promote fair competition as well as ensure the protection of the interests of both business entities and consumers. At the same time, regulation within this area serves as a mechanism for resolving conflicts between market actors enforcing contractual obligations among them regulating their operations.

If you are looking to get free pricing proposals from vetted lawyers that are 60% less than typical law firms, you can Click here to get started. By comparing multiple proposals for free, you can save the time and stress of finding a quality lawyer for your business needs.

Need help with a Power of Attorney?

Create a free project posting

Meet some of our Lawyers

Mark P. on ContractsCounsel
View Mark
5.0 (8)
Member Since:
July 21, 2023

Mark P.

Free Consultation
Kansas City, MO
9 Yrs Experience
Licensed in KS, MO, NE, TX
University of Missouri - Kansas City I represent a diverse mix in a vast array of specialties, including litigation, contracts, compliance, business and financial strategies, and emerging industries. Credit for this foundation of strength goes to those who taught me. Skilled professors and professionals fostered my powerful educational and professional background. Prior to law school, I earned dual Bachelor’s degrees in Business Administration & Accounting from Peru State College. I received a Master of Business Administration degree from Chadron State College. My ambitions did not stop there. While working full time as a Senior Accountant for the University of Missouri, Columbia, I achieved the lifelong goal of becoming a licensed Certified Public Accountant (CPA). Mizzo provided excellent opportunities and amazing experiences. Managing over $50M in government and private research funding was a gift. As a high ranking professional in the Department of Research, I was given priceless insight into the greatest scientific, journalistic, medical, and legal minds in the world. My passion for successful growth did not, and has not stopped. I graduated summa cum laude (top 3%) with a Doctorate in Law, emphasizing in urban, land use and environmental/toxic tort law from the University of Missouri, Kansas City. This success lead to invaluable experiences of serving as Hon. Brian C. Wimes' judicial clerk for the U.S. District Court for the W. D. of Missouri, as a staff editor/writer for UMKC Law Review, and as a litigation and transactional attorney with Lathrop GPM (fka Lathrop & Gage). My professional and personal network is expansive, with established relationships throughout the U.S. and overseas. Although I engage in legal practice all over the country, I maintain law licenses in Missouri, Kansas, and Nebraska. Federally, I hold licenses in the W.D. and E.D. of Missouri and the District of Nebraska. To offer extra value, efficiency, and options, I maintain a CPA license and am obtaining a real-estate brokerage license.

Amber M. on ContractsCounsel
View Amber
5.0 (13)
Member Since:
March 8, 2023

Amber M.

Free Consultation
9 Yrs Experience
Licensed in AZ, OK
J. Reuben Clark Law School

Amber Masters has over 9 years of experience as a contracts attorney, helping small businesses with an array of agreements, such as purchase agreements, master service agreements, and employment contracts. She has an extensive background in employment agreements for dentists, doctors, and other health care professionals. She is a highly rated and acclaimed estate planning attorney and personal finance expert, who has been featured on CNBC, NBC, and Yahoo Finance. She successfully launched and sold a fintech startup and can empathize with the issues small and mid-size businesses face. Licensed in Oklahoma and Arizona.

Elbert T. on ContractsCounsel
View Elbert
4.8 (7)
Member Since:
March 31, 2022

Elbert T.

Free Consultation
Oklahoma City
3 Yrs Experience
Licensed in OK
Oklahoma City University School of Law

Elbert Thomas is the founder of the Thomas Law Group, LLC. Elbert is proficient in contract creation, drafting, reviewing, and negotiating various business contracts and demand letters in industries such as construction, personal, professional services, non-profits, and real estate. Elbert typically represents small and large companies in drafting and negotiating countless agreements such as purchase sale agreements, interconnection agreements, lease agreements, demand letters, cease & desist letters, transfer of deeds in real property, and merger/acquisition agreements. In addition, Elbert is also experienced in start-ups, small business formation, drafting operating agreements, and estate planning.

Ralph S. on ContractsCounsel
View Ralph
5.0 (4)
Member Since:
October 31, 2021

Ralph S.

Free Consultation
Gainesville FL
13 Yrs Experience
Licensed in DC, FL, MA
University of Florida Levin College of Law

Ralph graduated from University of Florida with his JD as well as an LLM in Comparative Law. He has a Master's in Law from Warsaw University , Poland (summa cum laude) and holds a diploma in English and European Law from Cambridge Board of Continuous Education. Ralph concentrates on business entity formation, both for profit and non profit and was trained in legal drafting. In his practice he primarily assists small to medium sized startups and writes tailor made contracts as he runs one of Florida disability non profits at the same time. T l Licensed. in Florida Massachusetts and Washington DC this attorney speaks Polish.

Yoann E. A. L. on ContractsCounsel
View Yoann E. A.
Member Since:
October 29, 2021

Yoann E. A. L.

Free Consultation
5 Yrs Experience
Licensed in CA
Concord Law School at Purdue University Global

For over 15 years, I accumulated both hands-on technical and business experience as an IT engineer and entrepreneur, enabling me to understand your challenges probably better than anyone else on the legal market! My California-based full-online practice focuses on: - Intellectual Property (Copyright / Trademarks) - Privacy / Data Protection - Commercial matters (e.g. service contracts) - Corporate (e.g. incorporation, restructuring)

Melanie C. on ContractsCounsel
View Melanie
Member Since:
October 31, 2021

Melanie C.

Business & Intellectual Property Attorney
Free Consultation
20 Yrs Experience
Licensed in NJ, NY
Emory University School of Law

Melanie Cunningham specializes in helping entrepreneurs remain creative and expansive by establishing the foundation of their business and protecting and maximizing their intellectual property. It’s her belief that entrepreneurs and micro and small business owners play a critical role in our communities, which propelled Melanie to return to private practice after more than a decade working for global financial institutions. Melanie’s practice is dedicated to delivering excellent legal support and protection to this vital, but an often underserved, community. Melanie credits her business training and the skills developed as a senior compliance officer with enabling her to help small business owners have a legally compliant business, while proactively advising clients during the growth process. She’s helped diverse entrepreneurs do business in a way that focuses more on collaboration than competition. Melanie has counseled small business owners in determining what is protection worthy (helping them obtain trademarks and copyrights) and making contact on their behalf in the case of infringement.

Find the best lawyer for your project

Browse Lawyers Now

Need help with a Power of Attorney?

Create a free project posting
See All Business Lawyers
See All Commercial Law Lawyers
Learn About Contracts
See More Contracts
other helpful articles

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Need help with a Power of Attorney?

Create a free project posting

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city