Difference Between Business Law and Corporate Law, Courses
If you are looking for the difference between Business Law and Corporate Law, read the article below to understand the key points of difference between the both.
Law is a vast field of study having many disciplines that may appear similar but are actually distinct from one another. Two such legal disciplines are Business Law and Corporate Law. While Corporate Law focuses on the legal aspects governing the formation, operation, and dissolution of corporations and other business entities, Business Law includes the legal aspects that governs commercial activities and transactions. A business organization needs people who have knowledge of both Business Law and Corporate Law so that they can function in an orderly manner. Students considering a career in a corporate environment should have a clear understanding of the various aspects of both the laws. Let us know about Business Law and Corporate Law in detail:
Business Law
Business Law is also called Mercantile Law, and it governs trade or commerce. It has two major areas of work: first, regulation of commercial entities through the laws of company, partnership, bankruptcy, and agency, and second, regulation of commercial transactions through the laws of contract. Business Law takes care of aspects like contracts, employment Law, taxes, and other related areas for setting up a company. It is under this Law that every transaction between people and commercial firms is regulated.
Corporate Law
Corporate law lays down the rules, practices, and regulations that govern the formation and operation of corporate firms. This law deals with the activities of the organization, the obligations of its administration, the rights and privileges of investors, and various issues. Apart from this, the rights of investors are also subject to corporate Law.
Popular Courses
Some popular PG level courses in Corporate Law or Business Law are–
- LLM in Corporate Law
- LLM in Business and Corporate Law
- LLM in Corporate and Banking Law
- LLM in Corporate and Business Law
- Post Graduate Diploma in Business Laws
- Diploma in Business Laws
- PG Diploma in Business and Corporate Law
Special Features of Business Law & Corporate Law
Even though Business Law and Corporate Law are related to business and its management, both have certain characteristics that differentiate them from each other:
| Business Law |
Corporate Law |
|---|---|
| It covers areas like contracts, employment law, commercial transactions and taxes. |
It focuses on management and formation of companies and deals with legal rights, obligations and privileges. |
| Deals with litigation related to employment law and businesses |
Deals with international transactions of goods. |
| Take care of financial and tax obligations |
Take care of business deals such as making contracts with international clients |
| Researches copyright/trademark free businesses |
Look after acquisition and investor rights |
| Preparation of business plans for investors and reviewing partnership agreements and contracts |
Deals with issues related to corporate structure
|
Key Skills Required for Corporate Law and Business Law
Aspirants aspiring to pursue Business Law or Corporate Law must have a sound knowledge of the Indian Penal Code along with some key skills such as:
| Key Skills |
|
|---|---|
| Interest in Research |
Ability to work long hours |
| Hard-working |
Integrity |
| Convincing power |
Ability to assimilate and analyze facts |
| Knowledge of substantive law and legal procedure |
Ability to work in a team |
| Possess good analytical and logical reasoning |
Good at written and verbal communication |
Career Prospects of Business Law and Corporate Law
The most popular job profile for candidates looking to make a career in Corporate Law or Business Law is Corporate Lawyer. They can work as a law specialist for any corporate company, business establishment or public sector company. Corporate lawyers have to study law, constitution as well as ordinances. They help corporations in their normal functioning and make important legal decisions. Apart from becoming a corporate lawyer, candidates can opt for academia, join the judicial service, or take up any other law job profile.
Popular Law Colleges
Some of the popular Law colleges offering various courses in Business Law and Corporate Law are listed below:
- NLU Hyderabad (Nalsar)
- School of Law, UPES
- Amity Law School Noida
- Adamas University
- GNLU Gandhinagar (NLU)
