√ Definition of Business Law, Background, Objectives, Functions, Scope and Legal Sources
Definition of Business Law, Background, Objectives, Functions, Scope and Legal Sources – On this occasion we will explain material about business law. This discussion includes the meaning, purpose, function, scope, legal sources and background which will be reviewed in full and easy to understand.
Definition of Business Law, Background, Objectives, Functions, Scope and Legal Sources
For this reason, consider the following description carefully.
Understanding of Business Law According to Experts
Business law or in English is business law is a legal instrument that regulates procedures and implementation of trade, industrial and financial affairs or activities related to the exchange of goods and services, production activities or activities of placing money carried out by entrepreneurs with certain efforts and motives by first considering all possible risks happen.
1. Munir Fuady
The definition of business law according to Munir Fuady is a device or rule of law including enforcement efforts that regulates procedures for carrying out trade, industrial or financial affairs or activities connected with the production or exchange of goods or services by placing the money of entrepreneurs at certain risks with certain businesses with a motive to earn profit.
2. Abdul R. Saliman et al
The definition of business law according to Abdul R. Saliman et al is the whole of legal regulations, both written and unwritten written, which regulates the rights and obligations arising from agreements or engagements that occur in practice business.
3. Dr. Johannes Ibrahim, SH.M.Hum
The definition of business law according to Dr. Johannes Ibrahim, SH.H.Hum is a set of legal rules held for organize and resolve various problems that arise in activities between people, especially in the field of trading.
Background Business Law Resources
The background from sources of business law is that a healthy economy will be born through healthy business, trade or business activities. Therefore a healthy economic activity of course has rules that guarantee the occurrence of a healthy business, trade or business
Purpose of Business Law
In business law there is a purpose which can be seen in the explanation below:
- The aim is to guarantee the security of the market mechanism efficiently and smoothly so that it runs according to its function.
- For the types of Small and Medium Enterprises, business law aims to protect various types of businesses.
- On the financial and banking system of business law aims to improve the system.
- To protect against economic actors or business people
- To realize a safe and fair business for all business people.
Business Law Functions
The functions of business law are as follows:
- Can be a useful source of information for all business people.
- Can provide an explanation of rights and obligations in business practices. Business people can know their rights and obligations when helping a business so that their business or business do not deviate from the rules that exist in the business world that have been written in the law and nothing is harmed.
- Realizing a character and behavior of business people so that activities in the business sector are realized.
Scope of Business Law
The scope of business law includes many things including:
- 1 Business contract
- Form of business entity (PT, Firma, CV)
- Companies going public and capital markets
- Buying and selling activities by the company
- Investment or investment
- Liquidation and bankruptcy
- Mergers, acquisitions and consolidations
- Financing and credit
- Debt guarantee
- Securities
- employment
- Industrial Intellectual Property Rights
- Unfair business competition and prohibition of monopoly
- Consumer protection
- Distribution and agents
- Taxation
- Insurance
- Resolve business disputes
- International Business
- The law of transportation either by land, sea or air
- Protection and guarantee of legal certainty for technology users and technology owners
- Industrial law or processing industry
- The law on the activities of multinational companies covering export and import activities
- Mining activity law
- Banking and securities laws
- Real estate, building and housing law
- International trade law or international agreements
- Money laundering law
Business Law Resources
The basis for the formation of business law is the source of business law which includes:
- The principle of the contract agreement between related parties where each party complies with the mutually agreed rules.
- The principle of freedom of contract where business people can make and determine the contents of the agreement they agree on.
According to the legislation, sources of business law include:
- Civil Law (Civil Code)
- Public Law (Economic crime/Criminal Code)
- Commercial Law (KUH Commerce)
- Laws and regulations outside the Civil Code, Criminal Code, or Commercial Code.
According to Munir Fuady, sources of business law include: Legislation, agreements, treaties, jurisprudence, customs and doctrines of legal experts.
Thus the above has been explained about Definition of Business Law, Background, Objectives, Functions, Scope and Legal Sources, I hope that this discussion will add to your insight and knowledge about business law. We really thank you for visiting.
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