Definition: [ˈbɪznɪs lɔː] studies the legal regulation of commercial activities. These are situations when social relations develop into commercial relations, the participants of which are engaged in entrepreneurial activity. The business law as a part of the civil law is a set of legal rules governing commercial relations that are formed about commercial activities. The business law as a science is a kind of activity for the development of theoretical knowledge about commercial law objects, processes, and phenomena characteristic of commercial activities. The business law as a discipline serves the purposes of training specialists for their practical activities in the business sphere.
Business Law in a sentence:
The subjects of business law are individuals and companies that carry out commercial activities.
Lately, the business law has become a popular discipline for studying at the university.