Navigating the world of legal terminology can be a challenge. It’s filled with various terms that, though distinct, often overlap in their application. Two such terms are ‘commercial law’ and ‘business law’. While they both fundamentally deal with businesses, their focus and scope differ. This blog will explore the difference between commercial and business law and how our esteemed team at McBrien Armistead Law Group can assist you with your legal needs.
Understanding Business Law: A Branch of Civil Law
Business law, a branch of civil law, encompasses the rules and regulations dictating how to form and operate a business. It covers various areas, including contracts, human resources law, mergers and acquisitions, closely held corporations, securities, antitrust matters, and more. It also extends to corporate and LLC formation, management duties and liabilities, dissolution and receivership, and business succession planning.
Business law can be local, state, or federal. For example, the federal government is the primary regulator of stocks and investments, ensuring safety and security in the workplace. It also governs fiduciary relationships, shares, stockholders, directors, and officers.
Delving into Commercial Law: The Heart of Business Transactions
Commercial law focuses explicitly on the laws governing commercial entities of a company, contracts, and transactions. This includes aspects like sales, trade, and commerce. It also encapsulates bankruptcy, land use planning and zoning, construction law, and franchise relationships.
The primary objective of commercial law is the trading and distributing of goods and financial activities. It is essentially concerned with contracts and transactions that businesses engage in as part of their routine operations.
Corporate and Commercial Law: A Closer Look
While corporate law focuses on governance and regulation, dictating how a business operates, commercial law covers matters related to the business’s transactions with other entities. Therefore, though interconnected, corporate and commercial law play different roles within the business landscape.
How Our Team Can Assist You
At McBrien Armistead Law Group, we have an experienced team of Tennessee business lawyers focusing on commercial and business law. Our small business attorneys are well-versed in entrepreneurial law and can guide you through every step of your business journey.
Whether you need assistance with contracts, regulations, litigation, business succession planning, or any other business law needs, our team is here to provide expert legal counsel. We believe in building solid fiduciary relationships with our clients, ensuring their best interests are at the forefront of our services.
To ensure the success of your business, it’s crucial to understand the difference between commercial law and business law. This knowledge can help you make informed decisions that positively affect your business operations.
We invite you to meet the team of our lawyers who handle business law at McBrien Armistead Law Group. Our extensive experience and commitment to excellence allow us to assist you with all your legal needs. Contact us today to schedule a consultation, and let us support you in navigating the complexities of commercial and business law.