Main Article Of Business Law – Business Vs Corporate Body

A business is defined according to the law as an entity or organized body commercial activity engaged in by individuals or corporations. Businesses may be either for-profit entities or nonprofit organizations that conduct various activities to meet a social cause or further a particular social agenda. An entrepreneur is one who engages in the business of conducting a business. A corporation is a separate legal entity from its shareholders, which is generally an individual or group of individuals. Business enterprises are also categorized according to the nature of their businesses. There are different types of business enterprises such as retailing, real estate, transportation and communications, manufacturing, services, farming, and banking.

Business

Many businesses today have gone online. These businesses have moved from being strictly local enterprises to being global entities with offices and branches throughout the world. These businesses have become very visible to the public due to the internet’s ability to reach millions of consumers across the globe in a short period of time. The internet has also created many businesses that serve as online agents that purchase and sell products and services for other businesses.

In United States, the main article of corporate law which deals with businesses is the corporation. It is not surprising to find a corporation throughout the country because it serves many purposes for the state. First, the corporation protects the rights of the shareholders of the business. Second, it creates a working environment that encourages economic growth and development through the utilization of technological advances such as the internet.

Corporations are created through a combination of contracts, by-laws, and trusts that outline the responsibilities and privileges of a corporation. The most popular kind of corporation is the public limited liability company. This form of corporation permits the owners of the corporation to maintain limited liability. It does not allow the owners to be held personally responsible for the actions of the corporation unless there is a unanimous decision by three-quarters of the shareholders or members of the corporation.

Another main article of corporate law is the income tax. Many small businesses in the United States are limited in the amount of profits they may earn because of high taxation. The IRS administers the income tax system in a methodical and highly organized manner. In order for a business to be able to increase its profits it must pay taxes to the IRS, which is often used to balance out the books of a business.

Intellectual property is also a main article of business law. Many large businesses to work with large companies to help them develop new products and services. In order to protect their intellectual property rights they engage in court battles. These battles can be extremely expensive to both sides, so it is often better to settle a dispute between two businesses before it is decided in a court of law.

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