Business fraud takes many forms however the three most common types are fraud through the abuse of one’s power, fraud through a failure to disclose important information, and fraud through falsely representing oneself. All of these forms of business fraud are now legislated through the 2006 Fraud Act. This type of commercial fraud sometimes occurs within a legitimate company; however it is also commonly seen in businesses which are set up purely for the purposes of conducting fraudulent activity. The Fraud Act was put in place to attempt to protect consumers and to ensure that there are legal consequences for those who attempt to defraud others.
As we all know, business law firms are organs to help you deal with the disputes when you are developing your business. Commercial laws are essential for the correct running of a business; without these in place, there would be no regulations governing health and safety in the workplaces, contracts and employees; employers and those in managerial positions would be free to do what they liked when running the company. Generally, disputes in this area which require the use of commercial lawyers include business fraud, e-commerce and commercial contracts.
Another area of commercial law is e-commerce, which is a relatively new development in this legal arena. Commercial law has now been updated so as to provide consumers with protection when they are buying and selling over the internet. E-commerce offers individuals around the world with more opportunity to conduct business online, however these new opportunities on the internet are somewhat difficult to regulate, as laws relating to e-commerce must then comply with the constitutions of various countries. This has resulted in frequent disputes over services and products and which country’s laws the transactions should be carried out under. These disputes are dealt with by business law firms which specialize in commercial law.
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