Vienna, Austria

Business Law

Wirtschaftsrecht

Language: German Studies in German
Subject area: law
University website: www.wu.ac.at
Doktor/in der Rechtswissenschaften, Dr. iur
6 Semester
180 ECTS
Business
Business is the activity of making one's living or making money by producing or buying and selling goods or services. Simply put, it is "any activity or enterprise entered into for profit. It does not mean it is a company, a corporation, partnership, or have any such formal organization, but it can range from a street peddler to General Motors." The term is also often used colloquially (but not by lawyers or public officials) to refer to a company, but this article will not deal with that sense of the word.
Law
Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior. Law is a system that regulates and ensures that individuals or a community adhere to the will of the state. State-enforced laws can be made by a collective legislature or by a single legislator, resulting in statutes, by the executive through decrees and regulations, or established by judges through precedent, normally in common law jurisdictions. Private individuals can create legally binding contracts, including arbitration agreements that may elect to accept alternative arbitration to the normal court process. The formation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and serves as a mediator of relations between people.
Law
Laws grind the poor, and rich men rule the law.
Oliver Goldsmith, The Traveller (1764), line 386. Same in Vicar of Wakefield.
Law
There is no worse torture than the torture of laws.
Lord Bacon, folio edition, Vol. I. 440, 441.
Business
Business has to be fun. For too many people, it's "just a job."
Jack Welch (2001) Jack: Straight from the Gut Ch. 24.
An EU initiative developed a new process to recycle plastic waste for food packaging. This resource enables industry to conform to European Commission regulations on recycled plastic materials and parts intended to come into contact with foods.
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