Corporate law is a broad legal area that encompasses all the state and federal statutes pertaining to corporations. As “artificial persons,” corporations face the same liabilities—and have some of the same rights—as actual people, which means they can sue and be sued. Corporations are also operational business entities, though, which means they are subject to commercial law, too. If this sounds complicated, the following description of all that corporate law includes should help clear some of the confusion. 

State Laws Affecting Corporations

To be recognized as a corporate entity, a company must meet certain conditions set forth by the state in which it is incorporated. In Kentucky, for example, there are statutes governing everything from the name of the entity to its annual reporting requirements.

Other Kentucky statues that can affect corporations include those pertaining to employment law, product liability law, and contract law. In other words, if the corporation is ever sued, state law will likely influence the proceedings.

Federal Laws Affecting Corporations 

Most federal statutes that fall under corporate law regulate the financial aspects of doing business. For example, federal regulations govern everything from selling securities to paying taxes. Depending on the industry, the corporation may also be subject to federal licensing regulations. 

Like state laws, federal statutes can apply when the corporation is named in a suit. If the company violated the Fair Labor Standards Act, for example, they could face a civil suit in federal court. 

When Kentucky corporations need legal counsel, they turn to Mark D. Knight Attorney at Law. Practicing out of Somerset, this seasoned lawyer has been in the field for more than three decades. Whether your company is in the midst of a contract dispute or a judicial foreclosure, you can rely on attorney Mark Knight for strategic guidance. To learn more about his corporate law services, visit his website and call (606) 679-7411 to schedule a consultation.