BUSINESS LAW ?
What is Business Law?
Business Law is a law specialisation which is also referred to as Mercantile Law. Business Law deals with the laws on the basis of which every deal between people and commercial firms are governed.
Business Law has two distinct areas of functioning which are:
- Regulation of commercial entities that is done through laws of company, partnership, bankruptcy and agency.
- Regulation of commercial transactions that are done through the laws of contract.
Aspirants can pursue undergraduate (UG) as well as the postgraduate (PG) level programmes in the field of business law. In UG level courses candidates need to pursue integrated law courses wherein the last few years of the course they can specialise in Business Law whereas in a PG level law course aspirants can straight away specialise in Business Law.
Apart from degree programmes, candidates can also pursue diploma programmes in the field of Business Law. Some of these popular courses are Post Graduate Diploma in Business Laws, Diploma in Business Laws, PG Diploma in Business and Corporate Law etc.
Difference Between Business Law & Corporate Law
Although many people feel that Business Law and Corporate Law are the same, however, it is worth knowing that there are significant differences between the two law specialisations.
The focus of Corporate Law is majorly on how corporates/ companies are formed as well as managed. Thus, Corporate Law revolves around the operation of a corporation. Corporate law deals with legal rights, obligations and privileges. On the other hand, lawyers working in the field of Business Law cover areas such as contracts, employment laws, commercial transactions and taxes.
Eligibility Criteria for Business Law
The eligibility criteria for a Business Law course may vary from college to college. Candidates who want to apply for a five year integrated course in Business Law meet the eligibility criteria for the course if they have completed their Class 12 or equivalent exam from a recognised board with passing marks.
The eligibility criteria for Business Law course offered at PG level is such that candidates should have completed a five year integrated law course or possess an LLB or equivalent degree.
Top Entrance Exams for Business Law Courses
Candidates need to appear and qualify the following law entrance exams to secure a seat in Business Law courses:
- LSAT India
- ULSAT LLM
- CLAT LLM
- MHCET Law
- TS LAWCET
- APLAWCET
- TS PGLCET
- AP PGLCET
- ULET
Skills Required for Business Law
Aspirants who want to pursue Business Law as a course and career option should be well-versed with the Indian Penal Code, know all the technical aspects of businesses and extremely hardworking. Some key skills that an aspirant should possess in order to be successful in the field of Business Law are listed below:
Fluency | Clarity of speech |
Interest in Research | Integrity |
Ability to work long hours | Objectivity |
Convincing power | Good presentation skills |
Good judgement of situation/people | Persuasiveness |
Hard-working | Confidence |
Intellect | Ability to assimilate and analyse facts |
Business Law Courses, Subjects and Syllabus
The subjects/ topics taught as part of the Business Law course may vary from college to college. Candidates can go through the syllabus of UG level law courses offered in India below:
BBA LLB with specialization in Business Law | ||
|---|---|---|
Legal Method | Financial Management | Human Resource Management |
Law of Contract-I | Organizational behaviour | Family Law-II |
Legal English and Communication Skills | Marketing Management | Constitutional Law-II |
Principles of Management | Family Law-I | Law of Crimes-II |
Managerial Economics | Constitutional Law-I | Administrative Law |
Law of Contract -II | Law of Crimes-I | Strategic Management |
Law of Torts and Consumer Protection | Business Environment & Ethical Practices | Environmental Studies and Environmental Laws |
Law of Evidence | International Law | Tax Law |
Corporate Law | Property Law | Law and Emerging Technologies |
Code of Civil Procedure | Investment and Competition Law | Human Rights |
Alternative Dispute Resolution (ADR) | Code of Criminal Procedure | Intellectual Property Rights |
Jurisprudence | Labour Law-I | Labour Law-II |
Interpretation of Statutes | Legal Ethics and Court Crafts | Land and Real Estate Laws |
International Trade Law | Drafting, Pleading and Conveyancing |
|
LLM in Business Law
Aspirants can go through the course curriculum of PG level Business Law programmes offered at colleges in India below:
LLM in Business Law | |
|---|---|
Indian Constitutional Law: The New Challenges | Legal Regulation of Economic Practices |
Legal Education and Research Methodology, Insurance Law | Jurisprudence and Legal theory |
Corporate Finance | Law of Industrial and Intellectual Property |
Law and Social Transformation | Law of Export-Import Regulation |
Master of Laws in Business and Corporate Law
Some of the core subjects to study for LLM in Business and Corporate Law course are:
LLM in Business and Corporate Law | |
|---|---|
Research Methods and Legal Writing | Banking and Insurance Law |
Comparative Public Law | Law and Justice in a Globalizing World |
Corporate Governance | International Trade Law |
Investment Law and Competition Law | Maritime Law |
Intellectual Property Law | |
Master of Arts in Business Law
The law specialisation is also offered as an MA course in Business Law, and the syllabus for the course is as under:
MA in Business Law | ||
|---|---|---|
Law of Contract | Principles of Intellectual Property Law | Banking Law & Financial Regulation |
Introduction to Corporate & Financial Law | Investment Laws | Dispute Settlement in Trade & Investment |
Legal Research & Writing | Comparative Competition Law | Taxation of Corporations & Commodities |
Labour & Industrial Relations Laws | Advanced Corporate Law & Governance | Insurance Laws |
Environmental Laws | Information Technology, E-commerce & Cyber laws | Law of International Trade |
Law, Ethics & Governance | Infrastructure Finance | Mergers & Acquisitions |
Entrepreneurship & Family Business | Land Acquisition Laws |
|
Master of Business Administration in Business Law:
For the candidates who want to study Management subjects as well as, Business Law course specialisation, some law/ management colleges also offer MBA in Business Law. The syllabus for the same is as under:
MBA in Business Law | ||
|---|---|---|
Organisational Behaviour | Quantitative Methods | International Accounting and Finance |
Business Communication | Human resource management | International Marketing |
Accounting for Managers | Financial Management | International Strategy |
Economics & Management Decisions | Operations Management | International Human resource Management |
Marketing Management | Business Research Methods | Information systems/ Operations Management |
Principles & Practices of management | Operations Research | Sustainability |
Elective: International Business Law/ International and Comparative Commercial Arbitration | Elective: International Trade Law | Elective: International Banking Law |
Post Graduate Diploma Courses in Business Law
Apart from the above-mentioned courses, candidates can also go through the syllabus of Diploma courses in Business Law below:
Course name | Syllabus/ Core Subjects |
|---|---|
Post Graduate Diploma in Business Laws | Law of Contract/ Commercial Laws, Company Law, Competition Laws, Laws of Arbitration and International Arbitration, Banking Laws Insurance Laws, Labour Laws, Law of Taxation, Securities and Investment Laws, Environment Laws, Intellectual Property Laws |
PG Diploma in Business and Corporate Law | Law of Contracts, Corporate Law, International Economic Law, Consumer Protection Act, 1986 and Competition Act, 2002, Corporate Restructure Law, Corporate Finance Law, Dispute Resolution Law, Laws Related to Banking, Corporate Governance, Intellectual Property Law, Research Methodology |
Top Colleges offering Business Law Courses
Here are the best colleges in India offering various courses in Business Law:
| Colleges | Courses offered |
|---|---|
NLSIU Bangalore | LLM in Business Law |
NLU Hyderabad (Nalsar) | Master in Taxation and Business Laws LLM in International Trade and Business Law |
| School of Law, UPES | LLM in Business Law |
| Amity Law School Noida | LLM in Business Law |
Adamas University | LLM in Business Law |
GNLU Gandhinagar (NLU) | LLM in Corporate and Business Law |
TNDALU – Tamil Nadu Dr Ambedkar Law University | LLM in Business Law |
Symbiosis Law School, Pune | Diploma in International Business Laws and Corporate Laws |
NLIU Bhopal | LLM in Intellectual Property and Business Law LLM in Business Law |
NLU Kolkata (NUJS) | Post Graduate Diploma in Business Laws Diploma in Entrepreneurship Administration and Business Law |
Symbiosis Law School, Noida | LLM in Business and Corporate Law |
NLU Patiala (RGNUL) | LLM in Business Law |
NLU Ranchi (NUSRL) | LLM in Business Law |
Candidates who pursue a UG level course in Business Law can either opt to pursue a PG level law course or even opt to pursue a law job profile on completing the course. One of the most popular job profiles after completing a Business Law course is to become a Business Lawyer.
Apart from this, candidates can also pursue other law job profiles after completing their Business Law course from a reputed college/ university. Law graduates must qualify AIBE exam to practice in a court of law in India.
Business Law FAQs
Q: What is Business Law?
Q: What are the subjects of Business Law?
- Law of Contract/ Commercial Laws
- Company Law
- Competition Laws
- Laws of Arbitration and International Arbitration
- Banking Laws
- Insurance Laws
- Labour Laws
- Taxation Laws
- Environmental Laws
- Human Rights Laws
- Mergers and Acquisitions
Q: What courses offer Business Law as a specialisation?
Q: What is the difference between Business Law and Commercial Law?
Q: What is the scope of Business Law?
Q. How to get admission in Business Law courses?
Q. What are some good colleges for Business Law courses?
Q. Do I need to appear in any entrance exam for securing admission in Business Law courses?
Q. How much is the fee for Business Law courses?
