Main Article: Corporate and Commercial Law
A business is defined in the Merriam Webster’s Collegiate Dictionary Tenth Addition as a commercial organization or entity organized for the purpose of conducting business. Businesses may be either for-profit or non-profit entities that conduct business to meet a social objective or further an educational mission. Many types of businesses exist such as restaurants, bookstores, stores, shops, production and distribution, financial activities, manufacturing and services, transportation, and intellectual property. The basic functions of business are to earn a profit, obtain profit, distribute surplus / surplus cash to shareholders, accumulate capital, provide facilities for other businesses, and give goods and services to consumers.
The strategic management of enterprises often refers to the application of business principles that include management of resources effectively and efficiently. Strategic management also includes planning, organizing, staffing, leading, and controlling in various aspects of the business. For example, one of the main article focuses on the strategic management of enterprises focusing on building a team of people with varied experience who can think creatively, implement their ideas, and communicate effectively. These people are called team members or partners. The article discusses different aspects of team building such as creating a culture, structure, and rewards.
Although corporate law and commercial law are often thought to be the same thing, they are actually very different and have a lot of differences. The main article discusses the differences between commercial law and corporate law. Commercial law deals with issues such as trademarks, patents, copyrights, and warnings while corporate law is mostly concerned with the financing of corporations. A corporation’s main document is known as its articles of incorporation, while all the documents required to start up a business are called the articles of association for the corporation. Thus, both corporate and commercial law have a lot of similarities but some major differences as well.