Difference Between Business Law and Corporate Law

Are you trying to figure out the difference between Business Law and Corporate Law? This article will enlighten you with the key elements that make these undergraduate degrees stand apart.

Law is a vast field of study and has many disciplines that look similar but are actually different from each other. Two such legal disciplines are Business Law and Corporate Law. While Corporate Law focuses on the legal aspects governing the sale and distribution of goods, Business Law includes the legal aspects used in acquisitions, mergers, formation of companies and rights of shareholders. A business organization needs people who have knowledge of both Business Law and Corporate Law so that they can function in an orderly manner. Students considering a career in a corporate environment should have a clear understanding of the various aspects of both the laws. Let us know about Business Law and Corporate Law in detail: 

Business Law 

Business law is also called mercantile law and it governs trade or commerce. It has two major areas of work: first- regulation of commercial entities through the laws of company, partnership, bankruptcy and agency and second- regulation of commercial transactions through the laws of contract. Business law takes care of aspects like contracts, employment law, taxes and other related areas for setting up a company. It is under this law that every transaction between people and commercial firms is regulated. 

Corporate Law 

Corporate law consists of the rules, practices and regulations governing the formation and operation of corporate firms. The Law governs the interactions of corporations, investors, employees, shareholders, directors, creditors and stakeholders such as the community, consumers and the environment with each other. This law mainly deals with the activities of the organization, the obligations of its administration, rights and privileges of investors and various issues. Apart from this, the rights of investors are also subject to corporate Law. 

Differences Between Business Law and Corporate Law 

The differences between business law and corporate law have been outlined below: 

Key Areas of Focus

The key focus areas related to Business Law are the following:

• Contracts (negotiation, drafting, and enforcement)
•  Intellectual property (trademarks, patents, copyrights)
• Employment laws (hiring, firing, and workplace regulations)
• Commercial transactions (buying and selling goods/services)
• Consumer protection
• Taxation and compliance

The key focus areas related to Corporate Law are mentioned beloe:

• Corporate governance (rights and responsibilities of boards of directors and shareholders)
• Corporate finance (issuing stocks, bonds, and raising capital)
• Mergers and acquisitions (buying, merging, or selling companies)
• Securities regulation (complying with regulations on the stock market)
• Corporate restructuring
• Dissolution or liquidation of corporations

2. Business Types

Business Law: Applies to all forms of businesses including sole proprietorships, partnerships, LLCs (Limited Liability Companies), and corporations.

Corporate Law: Specifically pertains to corporations and focuses on ensuring that corporate entities operate within the legal framework set by the government and financial regulations.

3. Legal Procedures

Business Law deals with day-to-day legal matters of businesses, like drafting contracts, handling disputes, ensuring compliance with local and federal laws, and protecting intellectual property.

Corporate Law involves more complex legal matters related to corporate structure, including compliance with regulations that govern how corporations operate, protecting shareholders' rights, and managing corporate assets.

Eligibility Criteria for Business Law & Corporate Law 

Candidates can do graduation (UG) and post-graduation (PG) in Business Law and Corporate Law. For UG level course, candidates can take admission in five-year integrated law courses like BA LLB, BCom LLB, BBA LLB, BSC LLB after 10+2 in any discipline or can pursue three-year LLB course after graduation in any discipline. After that candidate can directly specialize in Business Law or Corporate Law by doing PG level law course i.e., LLM. Candidates can also do Diploma in Business Law or Corporate Law.  

Popular Courses  

Some popular PG level courses in Corporate Law or Business Law are–  

• LLM in Corporate Law 
• LLM in Business and Corporate Law 
• LLM in Corporate and Commercial Law 
• LLM in Corporate and Securities Laws 
• LLM in Corporate and Banking Law 

• LLM in Corporate and Business Law 
• Post Graduate Diploma in Business Laws 
• Diploma in Business Laws 
• PG Diploma in Business and Corporate Law 

Special Features of Business Law & Corporate Law 

Even though Business Law and Corporate Law are related to business and its management, both have certain characteristics that differentiate them from each other: 

Business Law	Corporate Law
It covers areas like contracts, employment law, commercial transactions and taxes.	It focuses on management and formation of companies and deals with legal rights, obligations and privileges.
Deals with litigation related to employment law and businesses	Deals with international transactions of goods.
Take care of financial and tax obligations	Take care of business deals such as making contracts with international clients
Researches copyright/trademark free businesses	Look after acquisition and investor rights
Preparation of business plans for investors and reviewing partnership agreements and contracts	Deals with issues related to corporate structure

 Important Entrance Exams 

To get admission in the courses of Business Law or Corporate Law, candidates need to qualify the following law entrance exams: 

• LSAT India  
• DU LLB Entrance Exam  

• CLAT  
• Maharashtra Common Entrance Test for Law  
• Allahabad University LAT Exam
• Panjab University LLB Entrance Exam
• Telangana State Law Common Entrance Test  
• Andhra Pradesh Law Common Entrance Test
• BHU Undergraduate Entrance Test

Popular Law Colleges 

Some of the popular Law colleges offering various courses in Business Law and Corporate Law are listed below: 

• NLSIU Bangalore 

• NLU Hyderabad (Nalsar)
• School of Law, UPES  
• Amity Law School Noida 
• Adamas University 
• GNLU Gandhinagar (NLU) 

• TNDALU - Tamil Nadu Dr Ambedkar Law University 
• Symbiosis Law School, Pune 
• NLIU Bhopal 
• NLU Kolkata (NUJS) 
• Symbiosis Law School, Noida  

• NLU Patiala (RGNUL) 
• NLU Ranchi (NUSRL) 

Key Skills required for Corporate Law and Business Law 

Aspirants aspiring to pursue Business Law or Corporate Law must have a sound knowledge of the Indian Penal Code along with some key skills such as: 

Key Skills
Interest in Research	Ability to work long hours
Hard-working	Integrity
Convincing power	Ability to assimilate and analyze facts
Knowledge of substantive law and legal procedure	Ability to work in a team
Possess good analytical and logical reasoning	Good at written and verbal communication

Career Prospects of Business Law and Corporate Law 

The most popular job profile for candidates looking to make a career in Corporate Law or Business Law is Corporate Lawyer. They can work as a law specialist for any corporate company, business establishment or public sector company. Corporate lawyers have to study law, constitution as well as ordinances. They help corporations in their normal functioning and making important legal decisions. Apart from becoming a corporate lawyer, candidates can opt for academia, join judicial service or take up any other law job profile.