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  What is Business and Corporate Law?  
  Business law involves the forming of certain business entities as well as providing advice on how businesses and corporations are operated, regulated, taxed and dissolved.

Forming the proper business structure is an integral part of business law. The following business entities are the most common:

Sole Proprietorship: The owner and the business are the same and permits the owner to conduct business in his or her own name. All debts and liabilities are borne personally by the owner.

Partnerships:These structures may be general or limited partnerships with the latter having partners with only limited exposure to liability based on their degree of investment. The owners still retain personal liability.

Corporations: The main types of corporations are S-corps and C-corps, with tax and shareholder obligations being the difference between the two. Certain formalities need to be followed to maintain the corporation's integrity and insulate the owners from liability. Corporate owners are not personally liable for the business unless there is co-mingling of funds or other violations of certain laws.

Limited Liability Companies: An LLC is similar to a corporation but without most of the formalities. It is a separate entity from the owners and offers the owners protection from personal liabilities. Profits and losses can be reported on the owners' personal tax returns.

Other important areas of business and corporate law include ensuring that businesses adhere to state and federal labor, wage and overtime, and safety laws. Owners need to be aware of and legally advised on employee relations, hiring and firing practices, drafting contracts, negotiating mergers and acquisitions, maintaining a safe and hazard-free work environment, harassment issues, retention of business email and business documents, and the handling of employee complaints and lawsuits.