Also known as commercial law, commercial law is that group or set of laws and regulations that are established in the economic sphere to precisely control the type of relationships or links that may occur between two or more parties for commercial and economic exchange purposes. . Commercial law is a type of private law that groups administrative and legal issues with fiscal and economic procedures, which is why it is quite broad compared to other types of law that are more summarized or delimited.
Commercial law is established on the basis that different members of society normally carry out various types of exchange that may represent profit or profit. Thus, commercial law will be interested in this type of exchange and not in those that do not mean some type of profit, to regulate and keep them within the limits of the common regulation for all. In this way, commercial law seeks to establish parameters that must be respected by all those who take part in commercial activities in order to order and organize this type of action.
Each country or region has its own commercial law that tends to normalize and regularize relations or ties of this type within the confines of its territory. However, there are also different international commercial law treaties and regulations, which is the one that applies when commercial ties or exchanges are established between two or more nations.
Commercial law can be applied to all types of commercial exchanges that generate profits, whether they are between private companies, individuals, corporations, multinationals or even, as just mentioned, between different countries or states. As with other types of law, the foundations of commercial law have been built on previous customary elements that tended to regulate commercial practices more informally.
