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Business law is not a separate subject in the academic sense, where commercial law is distinguished from private law.

In legal practice, business law covers everything that constitutes the legal framework for business activities.

As well as areas of commercial law in the true sense, such as corporate law, the special law of contract applicable to merchants or entrepreneurs, the law governing securities, intellectual property rights, etc., business law also includes employment law and considerable areas of administrative law: land use planning, public procurement, and subsidies, to mention just the most important.
Markets change rapidly on a daily basis
For more complex operations, such as business acquisitions and sales, mergers and demergers, reconciliations, etc., the lawyer giving advice must consider problems relating to all these areas, which are often of a transnational nature.

It is also vital in all these cases to be aware of the most important issues relating to tax law:
for detailed knowledge, a tax adviser is required.

This functional, if rather broad, definition of business law also covers the law relating to economic crimes, where the normal criminal law techniques are supplanted by the know-how of the business lawyer.
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