Business Law

Under certain circumstances, the parties to a commercial transaction may enter into a legally binding agreement, referred to as a contract. In such situations, the laws governing contracts can be used to establish and enforce rights and duties of the parties.

If you are considering setting up a business enterprise, one of the most effective ways to protect your investment and your personal net worth is by organizing the business as a corporation. There are, however, a number of forms that a corporation can take.

A limited liability company offers many of the benefits of a corporation without many of the recordkeeping requirements, making it an ideal business form for many small businesses.

State and federal laws give special benefits to non-profit organizations, including certain tax advantages. To keep your non-profit status, however, there are specific rules you have to follow.

If you want to form a business organization, but don’t want the formality and recordkeeping requirements of a corporation, a partnership may be the best form. You need to be careful, though, as some types of partnerships establish broad liability for partnership debts.

Transactions involving the sale of goods are governed by the terms of the Uniform Commercial Code, which has been adopted in whole or in part by all 50 states, except for Louisiana. The laws set forth in the Uniform Commercial Code were influenced by hundreds of years of court opinions governing contracts.

When it’s time to sell the business you’ve built, it’s important to take the right steps to fully protect your interests.

Under state and federal law, certain deceptive or harmful business practices are considered unfair competition, subjecting violators to potential fines and legal action.