What is the difference between business law and commercial law?
Business Law vs. Commercial Law
What makes the difference between business law and commercial law? Many lawyers are involved in both types of practice, but there are some key differences.
Commercial litigation is a type of legal case that deals with "commercial" issues, meaning it has to do with the buying and selling of goods or services for money, between businesses. Commercial litigation lawyers deal with disputes involving contracts, business torts, antitrust violations, class actions, trade secrets, intellectual property (like patents and trademarks), bankruptcy, labor law (worker's rights), and securities (investment fraud).
Los Angeles Commercial litigation lawyers are hired by companies that need legal advice to help resolve their commercial disputes. Some of the most common issues are trade secret theft, breach of contract, antitrust violations, unfair competition, securities fraud or misrepresentation, and intellectual property infringement.
Business law is a broad term that encompasses many different areas of the law including contracts, bankruptcy & insolvency, finance & investment, real estate, employment law, commercial litigation, and business formation.
The most common legal services provided by a business attorney are:
– Formation of business entities such as corporations and cooperatives.
– Documents for financing through debt or equity requirements.
– Providing tax advice and compliance.
– Employment law issues such as hiring, firing, promotion or demotion, drafting employment contracts, setting wages or salaries.
The difference between business law and commercial law is that commercial cases are brought by businesses against other businesses, whereas business law involves the legal aspects of running businesses. The lines between business law and commercial litigation can sometimes become blurred in cases where a small business is involved in disputes with outside entities such as contractors, landlords, suppliers, or distributors.
Our Los Angeles business law attorneys at the Law Offices of Steven J. Horn will work to enforce existing contracts by filing lawsuits against people or companies that violate their contractual obligations. Commercial litigation lawyers, on the other hand, represent parties in disputes surrounding commercial transactions. Sometimes business law cases develop into commercial litigation; many times they do not.