In the year 1993, Dr.K.N.R.Ramaswamy started RR Academy. Before that, he was working with firms as an accountant. Then he worked as a teacher and after getting experience from teaching he started his profession as a professor. He worked with popular colleges like Loyola and Vivekananda College. He is M.com, M.phil, B.L, and PGD in personnel management and industrial relations from madras school of social work. His vast knowledge and professional approach reflect in his Business law book. His experience created the path to understand the subject with a broad perspective. As he was teaching marketing, law, and business he is interested in writing a book about business law.
The book from Dr. K.N.R helps the students to understand the difference between void, valid, illegal contracts, unenforceable contracts, and voidable contracts. Indian contract act, 1872 is applicable all over India. As all the business involves in the contract it requires a simple definition to understand the application of the law. This book explains with case studies which makes a layman understand the law. As law subject control and help for future predictions, this book is a milestone for business law students. The subjects which come under business law are Law of contract, Company law, Competition Laws, Banking Laws, Laws of arbitration and international arbitration, insurance laws, Taxation laws, Labor laws, Environmental laws, Human rights laws, Environmental laws, and Mergers and Acquisitions. The courses which are offered with business law as specialization are BBA LLB, LLM in Business Law, M.A., in Business Law, and PG diploma in business laws.
What is the difference between business law and company law?
As like the saying Mathematics is the mother of all sciences, Business law is the mother of corporate law. Business law is the legal aspect of the law that central and state government takes as core functions. During mergers and acquisition Business law focus on legal aspects whereas corporate law focus on operations and validity of the organization. Corporate law is widely used in the organization. Business law reviews the functions of corporate law. Employment law in Business law explains the contracts between employer and employee, rules regarding termination of service, the way how the business organization treats the employees. It is mandatory to follow all these guidelines. Otherwise, the organization ends up with court fighting.
What are the branches of business Law?
Corporate law, property law, intellectual property law, uniform commercial code, tax law, and negotiable instrument law are the different types of law that have the fundamentals of business law. In recent times, intellectual property is the value or legal rights of the creator. In the entertainment industry, manufacturing sector, pharmaceutical industry, FMCG industry, and food industry intellectual property protect the competition. So, the law is the force to protect and it is the fundamental knowledge of the professionals to know about the business law.
From a global perspective, Companies frame business laws to make the domestic company’s operations and establishment easy. The 20 countries where the business regulation is friendly are China, New Zealand, Hong Kong SAR, Singapore, the United States, Norway, Denmark, United Kingdom, Iceland, Republic of Korea, Saudi Arabia, Ireland, Finland, Sweden, Canada, Australia, Thailand, Georgia, Malaysia, Germany, and Japan. As part of the competitiveness agenda, these companies review the regulations. The policy makes all over the world demand a friendly business environment for entry, exit, and operations of the business.
Business law is a vast subject that gives knowledge about Indian law and international law. The business law in India is simpler than that of the USA. India is a member of the International Labor Organization. So, it gives job security to the employees working in India. The consumer protection Act pays way to reasonable competition. To enhance import and exports Indian government passed the foreign trade Act. As e-commerce and digital transactions are growing in India, the techno legal act of companies act and IT Act of 2000 protect the security in Indian companies.