You do not realize how important business law is until you have a contract dispute. Business is the backbone of America.
If you stop to think about it, one of the main things that keeps society functioning and on track is business law, especially business transactions, contracts, agreements, the building of new companies, corporations, etc. Governing all this commerce is business law; call it overseeing the world of business if you will.
Without business law in place, the world would be a much tougher place to regulate and run because there would be no contracts and no one to uphold contracts and hold people to their word. It would mean business would run without any repercussions or consequences for those who did not live up to their promises. Unfortunately, even though a lot of people would follow through on their promises, they are just as many more who would rip the system and others off. This is why you need business law.
You may know business law as commercial law. Its usual definition is that it governs business and commercial transaction and is a branch of civil law, handling issues in the public and private sectors. Under this umbrella you will find an enormous range of legal issues and lawyers that deal with things like white-collar crimes (a criminal issue, not civil) and insider trading.
On the other side of the business/commercial law fence you would have corporate contracts, hiring practices and the manufacture/sales of consumer goods, etc. When dealing with contract law, unarguably the largest arena in business law, you would typically be writing contracts, supervising their signing, ensuring they are worded correctly and filing a lawsuit if there is a breach of the contract. Just about everything we do today involves a contract of some sort, whether it’s buying a house to renting a carpet cleaner.
When it comes to hiring, this is one of the trickier areas of law, particularly if a business has to let an employee go. In situations like this, if you do not have a carefully worded hiring/firing policy, you could be open to a lawsuit for wrongful dismissal. Even with a handbook in place, you may still have legal issues. This is why you need the advice and counsel of a skilled Atlanta business lawyer.
Then, consider the world of manufacturing. It is not just the company that makes the product that has a part in the chain of commerce; there is also the designer, the shipper and the seller. Each link in the chain has contracts with the other links in the chain, and so it goes. Although they are largely invisible, those contracts are what glues everything together; keeping industry and commerce running smoothly and accountably.
Robert Webb is an Atlanta personal injury lawyer with Webb & D’Orazio, a law firm specializing in Atlanta personal injury, malpractice, criminal defense, and business law. Learn more at Webbdorazio.com.