What is Commercial Law?
Commercial Law is the legal field responsible for the jurisdiction, regulation, oversight, and authorization of any and all expressed legality implicit within business practices, commercial operations, and consumer dealings taking place within a commercial setting. In many cases, Commercial Law will adhere to the variety of businesses, methods of commerce, and commercial undertakings that occur in a particular area or region; these types of commercial institutions will typically range in size, staff, service, and industry.
Types of Joint Commercial Law Jurisdictions
Within the realm of business and commerce, there exist vast arrays of businesses that are all required to adhere to the expressed legality within the tenets of Commercial Law. While the bulk of business and commercial activity may fall under the jurisdiction of Commercial Law, supplementary specifications latent within individual businesses may allow for their respective legal jurisdiction to transcend the boundaries of Commercial Law:
Cyber Law and Commercial Law
Electronic – or virtual – Commercial Law focuses on the regulation of legislation, ethics, legality, and stipulationsthat exist with regard to the operation and facilitation of commercial activity engaging the usage of computer networks, virtual marketplaces, online businesses, and Internet-based business activity; in accordance to Commercial Law existing within the physical marketplace, both the investigation, as well as the prosecution of electronic, virtual fraud is implicit with the statutes of electronic Commercial Law – this may include:
The investigation and prosecution of illegal, unlawful, and invasive virtual solicitation
The fraudulent attempt to conduct unethical business practices over the Internet under the guise of a legitimate business
The misappropriation of funds, transactions, and earnings
Consumer Law and Commercial Law
Consumer Law is rooted within the oversight of the rights and liberties afforded to consumers, which exist on both a physical and virtual basis.Within the realm of Commercial Law and Consumer Law, the provision of legal protection and coverage with regard to consumers engaging in commercial dealings include the investigation of legality and ethics latent within the commercial marketplace.Commercial Law, like Consumer Law exists in order to prevent the exploitation of right belonging to not only businesses and commercial endeavors, but also to the public consumer base; this can include the investigation and subsequent prosecution of the following:
False Advertising, which is a classification of criminal activity within Commercial Law defined as the misrepresentation of products or services offered
Product Liability, which is a legal statuteCommercial Law defined as the inherent safety and structural integrity belonging to a product; typically, product liability cases involve injuries sustained through usage
Warranty and Insurance, which is a legal instrument within Commercial Law defined as a bond formed between the vendor and the consumer ensuring that the product purchased is functional and satisfactory
Commercial Law and the Better Business Bureau (BBB)
The Better Business Bureau mediates the lines of communication between consumers and businesses.If a presumed injustice within the commercial market experienced on the part of a consumer, that individual entity may report the alleged infraction to the Better Business Bureau for further investigation; although the Better Business bureau is not a legal institution, it has been recorded as working in tandem with legal firms or attorney specializing in commercial law.