Corporate law (also known as business law or enterprise law or sometimes company law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The most important feature of a company is that it is a separate legal entity different from the persons who constitute it. Meeting of BoD The meeting held by the Board of Directors is an important aspect for the smooth functioning and working of a company. A company comes into existence when it receives the certificate of incorporation from the Registrar of Companies. Any regulation or legal rights that affect employers, employees, and consumers, as well as how businesses interact internationally, are considered topics of business law. Management accountant What do they do? This allows the company’s executive team to make informed decisions regarding the company’s budget, cost and Chapter 1 of the third edition of Letters to a Law Student deals with the question of why anyone would want to study Law, and in the course of so doing defends the importance of law, and by extension the work that lawyers do. Technology's influence on business and financial transactions are covered by business law as well as … The Importance of Law. And no business operates in isolation from external challenges. Business leaders are constantly required to make agreements and transactions that have legal ramifications, often without full comprehension or up-to-date knowledge of their parameters. We can expect to work in a safe work environment because of laws. This is, perhaps, the most beneficial importance of compliance in a business. For incorporating a company, some documents are to be filed with the Registrar of Companies. Business law is an important topic to understand due to how intertwined business transactions are with society. No business wants to face criminal charges for not adhering to the law. A petition needs to be filed under section 186 of the Companies Act for the Company Law Board to call for a meeting. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. The importance of understanding business law 20 April 2017 No man is an island. Let me give you some examples of the importance of law in everyday life. A management accountant specialises in analysing financial information and providing reports to their organisations executive team.

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