Learning outcomes

Laerning about the different types of companies and their characteristics

To get an overview about obligations and rights of business law

According to most countries’ law, each business is its own legal entity; this means, there are thousands and thousands of legal entities in each country which need to be handled legally. It also means that each business has to be legally constituted in order to carry out its activities. All this leads to a need for the legal system to monitor these laws; and its inclusion inside Business Law.

Business Law is, as its name suggests, the combination of laws in charge of controlling the commercial dealings done among people, as well as the regulation of the formation and handling of an organisation. Each country has its own rules when it comes to legal types of businesses, how they have to be constituted and which things are necessary in the process. Even though there are certain types of businesses more or less general to all the EU (cooperatives, limited liability…) the fact that the same name is used does not mean the same rules apply.

In the following chapter, we will be able to see the peculiarities of Business law and how it is handled in the country.