Everything that relates to our society is governed by laws and business is no exception. Business law or commercial law is simply a body of law that governs every aspect with regards to conducting a business. This covers but not limited to the commerce of the sea, transportation of goods, guarantees, marine life and natural disasters pertaining to the economic status and business relations, life of the people concerned, employment, intellectual property, insurances and conformities of partnerships. Business may differ for each state or country but there are international codes followed to ensure equal distribution of economic power among nations.

In some countries, civil codes that cover comprehensive statements of their commercial law are being followed. They are usually regulated by the congress with its power to regulate interstate commerce. In the United States, unions are formed to promote a uniform body of commercial law which has resulted in the adoption of the uniform commercial code which is currently being followed by the 50 states and other US territories.
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