Business law encompasses a significant portion of the legal practice of law firms and attorneys working "in-house" with multinational, national, and small businesses. Client needs in the business area can involve the formation of business entities; sale, leasing, and transportation of goods in both conventional and online settings; services; acquisition and protection of intellectual property; lending and financing; taxation; secured transactions; compliance with securities and other relevant regulations; insurance; employment and labor agreements and disputes; mergers and acquisitions and other antitrust issues; franchising and other licensing arrangements; and contract drafting and negotiation.
Business law has many branches, including commercial law. Commercial law relates to the movement of items in commerce through buying, selling, leasing, licensing, or granting security interests. It covers legal issues related to goods, services, real estate, and intellectual property. Commercial transactions may take the form of B2B (business to business), B2C (business to consumer), or C2C (consumer to consumer). Other lawyers also use commercial law to serve their clients. For instance, an intellectual property (IP) attorney often must solve commercial law issues in the course of licensing transactions or disputes. A legal aid attorney can encounter commercial law issues while assisting low-income clients in disputes against businesses. An attorney in the consumer-protection division of the attorney general's office must have a good grasp of commercial law and its interface with consumer protection statutes. Business law plays a role in nearly every sector of the legal world. If you are interested in further specializing in business law, please contact the appropriate faculty member for advice about course selection.