Mention the difference between business law and commercial law

 Business law focuses on forming a company, shareholder rights, mergers and acquisitions, and property issues related to leasing the office space or warehouse. While commercial law focuses on the financing of certain transactions as well as the sale and distribution of goods. So we can define both of them as two areas of legal practice required for running a business. 

Therefore a lawyer with knowledge of both business and commercial law can fulfill all the legal requirements related to business formation and operation.

Both state and federal governments regulate business laws. The stocks and investments, workplace safety and employment laws, and environmental protections are looked after by the federal government. The state can impose these federal laws as well as can impose some other like federal government for establishing rules and regulations for forming and running a business in the country. 

The Uniform Commercial Code (UCC) regulates all types of commercial law related to the sales of goods, leases of goods, secured transactions, and negotiable instruments. Some forms of the UCC are adopted by all the states as well as they can make their own modifications as seem to fit like the business law. So while hiring a lawyer for business counseling it is required to check if he or she is familiar with the state laws.

• The legal terms required to know:

The following terms are very important for operating a business in this country and for these reasons your appointed business lawyer in California should have detailed knowledge regarding these.

• Uniform Commercial Code (UCC):

This is a comprehensive set of uniform laws that is applied for governing all commercial transactions in the United States. These commercial transactions include sales of goods and related issues like secured transactions and negotiable instruments. 

• Negotiable Instrument: 

This is related to the documents such as a check or note containing an unconditional promise to pay a certain amount of money on demand or at the specified time. This document should be prepared as specified by the principles of commercial law.

• Business acquisition and merge:

Acquisition refers to the formation or obtaining of a new company and merger means absorption of one business by another. Both these are very important for business enhancement and the business lawyer should have detailed knowledge regarding this. 

• Secured Transaction:

This refers to any transaction intended to create a security interest during the process of handing over any personal property or fixtures of a property. This is introduced in commercial law for many days and the professional lawyer should know the procedures of a secured transaction. 

• Important considerations while hiring a lawyer:

The business and commercial law issues are unique for each industry. So a professional and efficient lawyer should be able to provide useful and practical advice to solve any legal issues. For this reason, the lawyer should have enough experience in the type of business your company conducts.

 If the business owners don’t have the proper knowledge on each type of commercial law then he or she might face some legal disputes, which may hamper the growth of the business. Therefore, the lawyer should organize the proper solution for each legal issue and in California, the business lawyers are enough experienced to aid in the growth of the business.