A business can be defined as any entity or association engaged in commercial, vocational, or other productive activities for the operation or benefit of a person or group of persons. Most businesses are for-profit entities, though some are primarily nonprofit. Some businesses, such as international corporations, are hybrid organizations. There also can be cooperative businesses, which are governed by the policies and procedures of the members, the managers, and the workers of the cooperative. The most common types of businesses include: real estate brokers, insurance agents, manufacturers, retailers, banks, publishing houses, art galleries, charities, and oil companies.
As previously stated, many businesses fall under a variety of different categories, including those that are for-profit and those that are nonprofit. In addition, there are also a number of international businesses that can potentially fall under the classification of commercial law. One type of business that falls under the for-profit category includes those who rent or lease property, provide specific services, construct buildings, and/or furnish furniture for other businesses. A typical example would be a property leasing firm that leases commercial property to other businesses to allow them to rent and use the space for their own business. Another example would be a construction firm that builds residential homes and then sells the homes to individual buyers.
One other type of business that is often used in commercial law is that of intellectual property. Intellectual property refers to the proprietary rights owners have in order to protect their works, inventions, and discoveries from the competition. This main article on corporate law was written to help business owners understand the many facets of commercial law, including the many aspects that apply to their business. Business owners should consult with an experienced attorney to discuss the many legal aspects of owning, conducting business, and operating a successful business.