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Business law (also known as commercial law) covers rules that apply to business situations and transactions. Business law is largely concerned with civil law, especially with contracts. Some business law applies to torts (private wrongs against individuals, distinct from breaches of contracts). For example, a tort may occur when a manufacturer makes a defective product that injures a user. Criminal law sometimes governs business-related activities, too. For example, criminal law would punish a firm that conspires with competitors to fix prices or an employee who steals company tools.
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What is business law?