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Jul 16, 2019 |
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Law

Business law is the civil law which governs every business enterprise. This covers both public and private law. Business is always associated with complexity in activities and transactions. Disputes are not so rare in a business. These factors necessitate the intervention of some rules and regulations ruling all the business activities, which is the business law. It is mandatory to obtain the license before starting any business. Businesses of some specific nature require special license. The license may have to be issued by the local authority in most of the cases. A taxation rule applies to all businesses, but differs depending on the type of establishment and revenue. Even the obligation of the company towards the customers comes under the jurisdiction of business law.