Business Law

Most antitrust acts originate from the Sherman Act. The Sherman Antitrust Act of 1890 is a federal statute which prohibits activities that restrict interstate commerce and competition in the marketplace. The Sherman Act is codified in 15 U.S.C. §§ 1-38. The Cornell Uni Legal Information Institute, provides links to relevant law review and website sources.

The Fair Labor Standards Act (FLSA) sets out various labor regulations regarding interstate commerce employment, including minimum wages, requirements for overtime pay, and limitations on child labor. The FLSA—which was passed in 1938 and has seen numerous changes over the years—is one of the most important laws for employers to understand, as it sets out a wide array of regulations for dealing with employees, whether salaried or paid by the hour.

The Securities Act of 1933 targeted securities fraud from corporations and Wall Street, and was enacted in part in reaction to the stock market crash of 1929. This requires the sale of securities to be disclosed in a mandatory registration process. The SEC oversees the registration process. This link provides an overview of the Act.

The term “unfair trade practices” is broadly used and refers to any deceptive or fraudulent business practice or act that causes injury to a consumer. Some examples include, but are not limited to, false representations of a good or service including deceptive pricing, non-compliance with manufacturing standards, and false advertising.

The Commerce Clause refers to Article 1, Section 8, Clause 3 of the U.S. Constitution, which gives Congress the power “to regulate commerce with foreign nations, and among the several states, and with the Indian tribes." Link from Cornell University School of Law discusses the development of the concept through subsequent legislation.

The Uniform Commercial Code (UCC), a comprehensive code addressing most aspects of commercial law, is generally viewed as one of the most important developments in American law. The UCC text and draft revisions are written by experts in commercial law and submitted as drafts for approval to the National Conference of Commissioners on Uniform State Laws.

Link from U.S. Small Business Administration. Information about requirements for company organization and filing requirements for different business structures.

Types of business legal structures. From the U.S Small Business Administration. Includes descriptions and requirements for filing.

The FTC investigates allegations of unfair trade practices raised by consumers and businesses, pre-merger notification filings, congressional inquiries, or reports in the media and may seek voluntary compliance by offending businesses through a consent order, administrative complaints, or federal litigation.