Most important principles of business law

The idea of ​​studying the principles of business law always recalls the beginning of college and the theoretical and dense classes, usually outside the day-to-day forensics. The goal is to treat principles in a different way and show their importance to lawyers. Perhaps the first of the principles of business law – or of the fundamental concepts to understand Business Law – is that of a business society.

The concept of a company is provided for in articles of the Civil Code. It considers “company” the society of which it exercises own activity of entrepreneur. That is, of the one that carries out professionally organized economic activity for the production or circulation of goods or services. On the other hand, the concept of company is the organization focused on the production of goods, circulation of wealth or service provision.


Another of the principle of business law widely used to understand the other concepts above is that of professionalism. Professionalism is the professional exercise associated habitually. It is not considered professional who carries out tasks sporadically. Already personhood is when the entrepreneur, in the exercise of business activity, creates jobs that produce and circulate goods. This is done through the exploration of activity aimed at profit, organized in a way in which the four factors of production are articulated by the entrepreneur – capital, labor, inputs and technology.

Nevertheless, the study of the social function of the company should not be used only as a rhetorical argument.

Other Fundamental Principles

The principles mentioned above are fundamental to the knowledge of business law as a whole. It is also important to mention the principles of free competition and private property, which go along with those already mentioned. In addition, there are the specific principles of each branch of commercial law, such as principles of corporate law and bankruptcy law.

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The practice of studying the principles of corporate law gives the lawyer the knowledge of the essence of law. This allows for an understanding of the whole system, not just simple legal rules. Nowadays, the modern lawyer needs to see the whole system, not just a specific situation. And it is only with the understanding of principles that this fact becomes possible.

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