How is Business Law Different From Corporate Law

The study of law comes with many specialisations and areas of study. Students who wish to pursue their higher education in the field of law and make a career in law can choose the specialisation as per their interests and future plans. Each law specialisation is unique and offers several career prospects. Law aspirants are usually confused between Business Law and Corporate Law and want to understand the difference between the two.

All companies and organisations require both business law and corporate law for streamlining their functions. While both of them might sound similar to each other, these two laws are actually quite different from each other and their study does not traverse the exact same path. This article provides detailed information about the differences between Business Law and Corporate Law.

Difference between Business Law and Corporate Law: An Overview

The table given below provides a list of the basic details of Business Law and Corporate Law. go through this to get an idea of what all do these two laws entail.

Also Read:Corporate Lawyer - How to Become, Career Options, Scope, Salary, Job Description

Business Law vs Corporate Law: Key Differences

The points mentioned below explain the key differences between Corporate Law and Business Law. All candidates interested in pursuing either of the two courses must go through these points to understand how is business law different from corporate law. This will also help them in their future plans and career prospects.

• The fundamental difference between Business Law and Corporate Law is that the latter will give rules and guidelines in general which are utilized majorly in the purchasing and selling of various goods in the market. Whereas the former will look at the company’s overall business.

• Corporate Law has a significant influence on organisations. Various companies find themselves in legal battles on the grounds of breaking one or more components of Corporate Law. The main concern of Corporate Law is with the activities of an organisation, the rights and privileges of investors, the obligations of its administration, and the different issues that apply for the most part to the management of the company. Business law utilizes a much more extensive viewpoint of legal impact in business. It is essentially more common as compared to corporate law.

• The aspects that are taken care of under business law typically include contracts, taxes, employment law,  and other related areas that are essential for a company’s establishment.

• Business Law is administered by the state and central government. Both of these governments assume completely different roles in administering Business Law.

• Corporate Law is controlled and directed by the MCA (Ministry of Corporate Affairs) through the Companies Act (2013). Aspects like the disintegration of the organisation, consolidation and obligations of the organisation, and roles of various personnel are entertained in this act.

• Both Business Law and Corporate Law play different roles when it comes to mergers, acquisitions, rules for organisational inauguration or development, and investor rights.

• Business Law deals with the fundamental legalities that are required for an organisation's foundation whereas Corporate Law lays emphasis on the operations, activities, and validity of an organisation. In simple terms, Corporate Lawyers write the contracts and business lawyers review those contracts.

• Similarly, Corporate Law helps in taking care of the behind the scene legal formalities of a company along with avoiding litigation while business law enforces policies and oversees staff manuals.

• It is the responsibility of Business Lawyers to make sure that a company abides by the local laws whether it concerns the foundation of a company or its dissolution.

• Business organisations are required to pay taxes like any customary individual. Out of the two laws, it is only Business Law that incorporates the laws concerning financial transactions, tax, and marketing processes.

• Business law regulates the tax obligations, expense commitments, and tax benefits of the different sorts of business structures.

• A major role is played by business Law in identifying how a wide range of business substances are influenced by Employment Law.

Also Read:Corporate Law as a Career

Top Colleges for Business Law and Corporate Law in India

Check the list of colleges given below to know about the top Law colleges in India that offer courses in Business Law and Corporate Law. Other details like courses offered and location have also been given.

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