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Commercial Law

Commercial law, also known as mercantile law or trade law, is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising trade, and sales. It is often considered to be a branch of civil law and deals with issues of both private law and public law. Commercial law includes within its compass such titles as principal and agent; carriage by land and sea; merchant shipping; guarantee; marine, fire, life, and accident insurance; bills of exchange, negotiable instruments, contracts, and partnership. Many of these categories fall within Financial law, an aspect of Commercial law pertaining specifically to financing and the financial markets. It can also be understood to regulate corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Many countries have adopted civil codes that contain comprehensive statements of their commercial law.

What Do Commercial Lawyers Do?

Commercial lawyers will tend to have a specialist practice area (e.g. Intellectual Property) or industry focus (e.g. Technology, Media & Telecoms). The exception to this is in smaller firms, where the term simply refers to those whose clients are businesses rather than individuals. Commercial solicitor duties in the commercial legal sector is dependent on which area the lawyer works in, but much of the transactional work focuses on protecting each clients business interests by managing a wide range of risks. For example, this could mean interpreting the law to decide how to protect a client against liability for claims made on their website. Day-to-day work for a lawyer at a commercial law firm involves drawing up a wide range of commercial agreements and standard forms of words, such as disclaimers.