Editing Commercial law

{{Short description|Rules and guidelines of trade}}
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{{Companies law}}
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'''Commercial law''' (or business law),<ref>{{Cite web |title=Britannica Money |url=https://www.britannica.com/money/business-law |access-date=2024-05-26 |website=www.britannica.com |language=en}}</ref> which is also known by other names such as mercantile law or trade law depending on [[jurisdiction]]; is the body of [[law]] that applies to the rights, relations, and conduct of [[Legal person|persons]] and organizations engaged in [[commerce|commercial]] and [[business]] activities.<ref>{{Cite web |title=Commercial Law - The University of Auckland |url=https://www.auckland.ac.nz/en/study/study-options/find-a-study-option/commercial-law.html |access-date=2024-05-08 |website=www.auckland.ac.nz}}</ref><ref name="cornellcommerciallaw">{{cite web|title=Commercial Law: An Overview|url=http://www.law.cornell.edu/wex/commercial_law|publisher=Legal Information Institute|access-date=7 July 2012}}</ref><ref>{{Cite web |title=Legal Definition of COMMERCIAL LAW |url=https://www.merriam-webster.com/legal/commercial+law |access-date=2024-05-30 |website=www.merriam-webster.com |language=en}}</ref>  It is often considered to be a branch of [[Civil law (common law)|civil law]] and deals with issues of both [[private law]] and [[public law]].

Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; [[Maritime transport|merchant shipping]]; [[guarantee]]; marine, fire, life, and accident [[insurance]]; bills of exchange, [[negotiable instrument]]s, [[contract]]s and partnership.<ref>{{EB1911|wstitle=Commercial Law|volume=6|page=771|inline=1}}</ref> Many of these categories fall within [[Financial law]], an aspect of Commercial law pertaining specifically to financing and the financial markets. It can also be understood to regulate [[corporation|corporate]] [[contract]]s, [[Recruitment|hiring practices]], and the [[manufacturing|manufacture]] and [[sales]] of [[Final good|consumer goods]]. Many countries have adopted [[civil code]]s that contain comprehensive statements of their commercial law.

In the United States, commercial law is the province of both the [[United States Congress]], under its power to regulate interstate commerce, and the states, under their police power. Efforts have been made to create a unified body of commercial law in the United States; the most successful of these attempts has resulted in the general [[Uniform Commercial Code adoption|adoption]] of the [[Uniform Commercial Code]], which has been adopted in all 50 states (with some modification by state legislatures), the [[Washington, D.C.|District of Columbia]], and the U.S. territories.

Various regulatory schemes control how commerce is conducted, particularly ''vis-a-vis'' employees and customers. Privacy laws, safety laws (e.g., the [[Occupational Safety and Health Act]] in the United States), and food and drug laws are some examples.

== Content ==
{{See|Outline of commercial law}}
Commercial law covers the following legal areas :

* legal status of [[Business|businesses]]
** [[Sole trader]]s
** [[Corporate law]]
* [[Competition law]]
* [[Consumer law]]
* [[Advertising]] and [[marketing]] regulations
* [[Contract law]]
* [[Goods and services]] law
* [[Intellectual property law]]
** [[Copyright law]]
** [[Patent law]]
** [[Trademark law]]
* [[Financial law]]
** [[Credit]] and [[securities]] laws
* [[Tax law]]
* [[Banking regulations]]
* [[insurance law]]
* [[Bankruptcy Law]]
* [[International trade law]]
* [[E-commerce]] law

This broad area of law covers many topics, from forming new companies, drafting business contracts, employment processes, corporate mergers, consumer rights to commercial litigation. It also provides a comprehensive legal framework that supports the operations of businesses regardless of their size. It ensures that businesses or other entities that engage in commerce adhere to set rules and guidelines, creating a fair and competitive commercial environment while providing legal remedies to resolve disputes.<ref>{{Cite web |title=Commercial Law |url=https://www.oxfordreference.com/display/10.1093/oi/authority.20110803095627873 |access-date=2024-05-11 |website=Oxford Reference |language=en }}</ref>

==History==
During the [[Middle Ages]], Italy was the cradle of many modern institutions at the basis of commercial law. Around the 16th century, the trade of Italian [[maritime republics]] was the promoter of the birth of commercial law: the jurist [[Benvenuto Stracca]], ([[Ancona]], 1509–1579) published in 1553 the treatise ''De mercatura seu mercatore tractats''; it was one of the first, if not the first, legal imprint dealing specifically with commercial law. This treatise focused on merchants and merchant contracts, practices and maritime rights, to which he soon added extensive discussions of [[bankruptcy]], factors and commissions, third party transfers, and [[insurance]]. For this reason, Stracca is often considered the father of commercial law and author of the first Italian treaty about the insurance contract, beyond about the commerce. The legal work of Italian jurists had an impact on [[Holland]], [[Germany]], [[England]] and [[France]].<ref>
*''Modernisation, National Identity and Legal Instrumentalism'' (Vol. I: Private Law): ''Studies in Comparative Legal History'', Brill, 2019 (p. 118);
*Vito Piergiovanni, ''The Courts and the Development of Commercial Law'', Duncker & Humblot, 1987 (p. 14);
*Encyclopedia Treccani, ''[http://www.treccani.it/enciclopedia/benvenuto-stracca_%28Dizionario-Biografico%29/ Benvenuto Stracca]''</ref>

==See also==
* [[Commercial management]]
* [[Outline of commercial law]]
* [[Consulate of the Sea]]

==Notes==
{{reflist}}

==External links==
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* [http://www.quizlaw.com/what-is-business-law Hundreds of Answers to Basic Business Law Questions]
* [http://www.law.cornell.edu/topics/commercial.html Topical listing of US commercial law from Cornell's Legal Information Institute]

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[[Category:Business law| ]]