Business law refers to an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical. formalized rules and standards that describe what a company expects of its employees. the extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders. the laws and regulations that govern the conduct of business. a business's obligation to maximize its positive impact and minimize its negative impact on society.

Business law refers to an identifiable problem, situation, or opportunity that requires a person to choose from among several actions that may be evaluated as right or wrong, ethical or unethical. formalized rules and standards that describe what a company expects of its employees. the extent to which businesses meet the legal, ethical, economic, and voluntary responsibilities placed on them by their stakeholders. the laws and regulations that govern the cenduct of business. a business's obligation to maximize its positive impact and minimize its negative impact on society