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A contract is an agreement creating obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are mutual assent, expressed by a valid offer and acceptance, adequate consideration, capacity, and legality.

Intellectual Property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce. IP is protected by law, including patents, copyrights, trademarks, and trade secrets.

Tort law addresses circumstances where an individual's actions unfairly cause someone else to suffer loss or harm. A tort is not necessarily an illegal act but causes harm, and the law allows anyone harmed to recover their loss.

Limited liability is a legal principle where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership. If a company with limited liability is sued, then the claimants are suing the company, not its owners or investors.

Bankruptcy is a legal process through which individuals or businesses who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

A sole proprietorship is the simplest business form under which one can operate a business. It is not a legal entity and simply refers to a person who owns the business and is personally responsible for its debts.

A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. Corporations come with advantages such as limited liability, perpetual succession, and ease of ownership transfer.

A joint venture is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Joint ventures can be used to combine resources or expertise from different companies.

A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments, or combinations thereof.

A Limited Liability Company (LLC) is a business structure in the United States that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

A trademark is a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks. A trademark is legally protected by intellectual property rights.

A patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using, selling, and importing an invention for a limited period of years, in exchange for publishing an enabling public disclosure of the invention.

Copyright is a legal right granted by the state to the creator of an original work, including the right to copy, distribute and adapt the work. Copyright law protects the expression of ideas rather than the ideas themselves and is designed to promote creativity and the dissemination of knowledge.

Employee rights include a variety of provisions under the law to protect workers in the workplace. This includes the rights to a safe work environment, fair pay, freedom from discrimination, and other aspects related to employment.

Consumer protection is a group of laws and organizations designed to ensure the rights of consumers as well as fair trade, competition, and accurate information in the marketplace. This includes laws against fraudulent business practices and ensuring that consumers have access to accurate information about products.

Securities regulation involves the oversight and regulation of securities markets to protect investors, ensure fair and efficient markets, and reduce systemic risk. Important components include registration of new securities, regulation of securities transactions, and enforcement against market manipulation.

Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition. These laws prevent monopolies, anti-competitive practices, price fixing, and other practices that reduce consumer welfare.

Employment contracts are legally binding agreements between an employee and an employer. They outline the terms of employment, including salary, responsibilities, benefits, and the circumstances under which the employment relationship can be terminated.

Merger and Acquisition Law covers the various legal aspects of the consolidation of companies or assets through various types of financial transactions. This includes mergers, acquisitions, consolidations, tender offers, purchase of assets, and management acquisitions.

Environmental law consists of statutes and regulations aimed at protecting the environment from harm caused by human activity. It governs the use of natural resources and enforces standards regarding air and water quality, waste management, and species protection.

Insolvency is a state where an individual or corporation cannot meet their financial obligations to creditors as debts become due. Insolvency can lead to bankruptcy proceedings in which legal orders may be taken over the debtor's estate for the benefit of their creditors.

Product liability refers to the legal liability a manufacturer or trader incurs for producing or selling a faulty product. Laws concerning product liability protect consumers and provide redress for injury caused by defective or dangerous products.

Zoning laws are regulations governing the use and development of real estate in defined areas. These laws divide municipalities into districts and prescribe the types of structures that may be built within each zone and the activities permissible in those structures.

Trade secrets consist of formulas, practices, processes, designs, instruments, patterns, or compilations of information that have inherent economic value because they are not generally known or readily ascertainable. Businesses protect trade secrets to gain an advantage over competitors.

Franchising is a business model where a business owner (franchisor) licenses trademarks and methods to an independent entrepreneur (franchisee) in exchange for a recurring payment, and often a percentage of the franchisee's sales.

Liability insurance is a part of the general insurance system that provides the insured with protection against claims resulting from injuries and damage to other people or property. Liability insurance cover both legal costs and any payouts for which the insured would be responsible.

A shareholders' agreement is a contract among a company's shareholders that describes how the company should be operated and outlines shareholders' rights and obligations. The agreement typically includes provisions on the regulation of the shareholders' relationship, management of the company, ownership of shares, and privileges and protection of shareholders.

A Non-Disclosure Agreement (NDA) is a legally binding contract that establishes a confidential relationship. The agreement is between a minimum of two parties and outlines confidential material, knowledge, or information that the parties wish to share with each other for specific purposes but wish to restrict from wider use or dissemination.

Breach of contract is a legal cause of action in which a binding agreement is not honored by one or more of the parties to the contract by either failing to perform or by performing in a manner that does not meet the terms of the agreement.

Negligence is a failure to exercise the care that a reasonably prudent person would exercise in similar circumstances. This area of law is designed to protect individuals against the risk of harm from others' lack of due care, and it assumes the presence of a duty that the negligent person has breached.

Due diligence is the investigation or exercise of care that a reasonable business or person is expected to take before entering into an agreement or contract with another party or an act with a certain standard of care. It can be a legal obligation, but the term more commonly applies to voluntary investigations.

Arbitration is a form of alternative dispute resolution where a dispute is submitted, by agreement of the parties, to an arbitrator or a panel of arbitrators who make a binding decision on the dispute. It is an alternative to litigation and is used to resolve disputes outside the courts.

Fiduciary duty refers to a legal relationship of trust, with one party (fiduciary) having an obligation to act for the benefit of another (principal or beneficiary) within the scope of that relationship. Violations of fiduciary duties can lead to legal action for breach of duty.

White-collar crime encompasses a variety of non-violent crimes usually committed in commercial situations for financial gain. Examples of white-collar crimes include fraud, bribery, insider trading, embezzlement, cybercrime, and money laundering.

The Business Judgment Rule is a presumption that in making a business decision, the directors of a company acted on an informed basis, in good faith, and in the honest belief that the action taken was in the best interests of the company. It shields directors from personal liability if the decision turns out to be detrimental to the company, as long as it was made in good faith.