Business Law refers to the set of legal rules and regulations that govern the activities of businesses and commercial transactions. It covers a wide range of topics, including contracts, sales, and employment law, ensuring that businesses operate fairly and ethically. Understanding Business Law helps companies navigate legal challenges and protect their rights. Additionally, Business Law plays a crucial role in resolving disputes between parties, whether they are individuals or corporations. It provides a framework for enforcing agreements and addressing issues like fraud or breach of contract. By adhering to Business Law, businesses can foster trust and stability in the marketplace.