Commercial and Business Law
Commercial Law
Commercial law is part of civil law and covers many legal issues relating to the management of partnerships, companies, services and goods. Commercial law covers the creation, management and liquidation of companies, start-ups or any other businesses, their safeguard, the legal services available to them, consumer law, financial claims, and more.
Areas covered
Areas covered by commercial law include, amongst others:
- The establishment and registration of partnerships, companies or any other business, including raising capital and business relationships;
- Information and computer technology, including the development and implementation of systems, software, contract outsourcing, license agreements, confidentiality agreements, development contracts;
- Intellectual property, e.g. registration of trademarks, corporations and companies, protection of assets;
- Agreements and contracts and legal care in their preparation, including employment contracts, rentals, leasing, real estate, etc;
- Working with government agencies, governmental corporations and the Knesset’s professional committees;
- Acquisitions and mergers;
- Preparation of investment agreements;
- Business development.
Glossary
- Cooperatives
Cooperatives are, essentially, private companies. They are associations of individuals with common goals, helping each other in order to improve living conditions, economic needs and more.
- Drafting of contracts and agreements
Contracts and agreements are very important since they protect and preserve the rights of both parties and determine their future relationship. They define the principles, rules, standards and duration of a business relationship.
- Breach of contract or agreements
In most cases the contracts or agreements themselves will define what happens in the case of infringement or breach of the contract or agreement in question.
- Initial Capital
Initial, or Core capital is money needed to create or start a company, a start-up or any other business. Fundraising usually occurs as soon as the business plan is ready. It is important for the business plan to display a profitability model so that people will want to participate and invest in it.
- Computer and Technology Law
Computer and technology law includes all laws regarding computers and other new technology. These laws cover intellectual property rights, defamation (libel), reporting procedures, the right to information, processing of personal and other data, privacy, data protection, the right of access, the right of opposition, the right to rectification, electronic signatures, and more.
- Tax laws
Tax laws include all laws concerning taxes, whether governmental or relating to economic activity of any person, corporation, partnership, etc.
- Tenders
The tender process is a type of auction for services or products, getting a job or buying property. An advantage of tendering is that the competition amongst bidders should improve the quality of offers.
- Partnership law
A partnership is like a company. It is a group of people united in a common purpose, public or otherwise. All associations must register with the Register of Associations at the Ministry of Justice.
- Consumer Law
Consumer law includes all laws relating to relationships between businesses and consumers in trade and consumption. It covers consumer protection, sales law, laws on debit cards, smoking in public places, aviation services, communication law and more.
- Corporate rehabilitation
Corporate rehabilitation is a means of helping a business in difficulty and unable to recover. It is usually a complex and lengthy process. It includes an assessment of the business and its ability to recover, preparing a business plan, including a work plan, recruitment of sources and destinations for the recovery of the company, using employees, management of contact with banks and creditors, increasing sales, reducing costs to a minimum, and more.
- Distribution Agreement
When a manufacturer, a start-up or a supplier wants to sell goods in his own country or abroad, the first thing he needs is an agent or distributor unless he is going to use a system of direct distribution. If he decides to use a distributor, there will be a Distribution Agreement, to protect the rights of both parties. In the case of an Exclusive Distribution Agreement, the distributor is an independent agent who buys goods from the manufacturer or supplier and sells them under his own name.
- Foundation Agreement
A foundation agreement is an agreement made when you want to establish a business partnership, a company, a start-up or any other business, in order to prevent future problems between the partners or owners of the business in question.
- Confidentiality agreement
A confidentiality agreement is a written agreement between the supplier and the recipient of information, to prevent further exposure of that information. Confidentiality agreements safeguard the confidentiality of ideas, techniques, inventions, expressions and any other trade secrets.
- International Contracts
International contracts are more complicated than contracts valid just within one country, since the law of all countries concerned must be recognised and understood by the parties drawing up the contract. The manner of preparation of an International Contracts may be subject to regulation by an international treaty.
- Start-up
A startup is a company founded from nothing in order to create and develop an idea or a unique product. Usually the term refers to high tech (high technology) ventures. Once a startup is sold to an established company, it becomes what is called a profitable business.
- Judicial Liquidation
As long as a company is not liquidated, even if it is inactive, it must pay taxes and submit annual reports to the companies’ register. This is why when a company is no longer profitable the owner should take the appropriate steps to liquidate it. The liquidation is made by a court which also deals with the distribution of assets and payment of liabilities during the liquidation.
