Generally, business law focuses upon individual rights, standards, and mitigating disputes between businesses or between businesses and individuals.
Doing business in New York requires a familiarity with the laws of commerce and business enterprises. Whether you are involved in setting up a corporation, protecting a trademark, or have questions about deceptive trade practices, New York has its own set of laws for business and commerce which apply to both consumers and companies. Anyone involved in business law in New York needs to be aware of the differences between New York and other nearby states in order to comply with local statutes and avoid unnecessary litigation.
Deceptive Trade Practices
Much of business law deals with deceptive trade practices like false advertising or tampering with a car odometer. Unlike some other states, New York has not adopted the Uniform Deceptive Trade Practices Act, which codifies the laws of unfair competition. Nevertheless, New York has enacted its own laws to protect consumers from false advertising or misleading claims about products or services. One thing to note about New York is that it allow for both civil and criminal prosecution in such cases. In other words, the state can bring a criminal case in addition to an injured party bringing a civil suit for damages arising from the same incident.
Corporate laws in New York are designed to protect the individual and his or her business. Corporations benefit from a number of protections such as tax exemptions, brand protections, and limited liability. These types of benefits are often instrumental in helping individuals to decide whether or not to incorporate. In order to properly set up a corporation, it is always helpful to consult a qualified corporate attorney.
Antitrust laws also fall under the heading of business law and were put in place to promote fair competition and job growth by limiting a company’s ability to exact control over a particular market. These laws arose in response to the corporate monopolies that stifled competition in the last decades of the nineteenth century.
Although most antitrust cases are handled within federal courts, New York also allows individuals to bring antitrust case. The state operates under the Donnelly Act which emulates the Sherman Act of 1890 which prohibits monopolistic practices. One of the advantages of the Donnelly Act is that it permits individuals to sue large corporations or individuals within the state.
Business Law in New York comprises a number of different areas such as corporate law, antitrust violations, securities law, and deceptive trade practices. While there are always similarities between states and federal statutes, it is always helpful to consult a knowledgeable New York business attorney in order to be compliant with local statutes. In this way you can both enjoy the law’s protections and avoid unnecessary violations.