Introduction to Commercial Law in the United States
Commercial law in the United States includes all legal matters related to starting, operating, and managing a business. It covers forming business entities, negotiation of commercial contracts, consumer rights, intellectual property protection, and dispute resolution. Commercial law helps ensure that business transactions are fair and enforceable, protecting business owners and consumers. Understanding your legal responsibilities is key to reducing risk, attracting investors, and maintaining regulatory compliance.
Key legislation to consider
- The Uniform Commercial Code governs sales, leases, negotiable instruments, and secured transactions.
- State corporation laws regulate the formation and operation of businesses, including the duties of directors and officers.
- The Federal Trade Commission Act prohibits unfair business practices and enforces consumer protection standards.
- The Lanham Act protects trademarks and trade dress.
- State contract law governs the creation and enforcement of commercial agreements.
