business law
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business law
The area of law that regulates the legal framework for economic activities by companies and private individuals.
Sie hat sich auf Wirtschaftsrecht spezialisiert und berät große Konzerne.
She specialized in business law and advises large corporations.
The word is made up of 'Wirtschaft' (economy/business) and 'Recht' (law). It therefore refers to the part of the legal system that deals with the economy.
Das Wirtschaftsrecht regelt die Beziehungen zwischen Unternehmen.
Business law regulates the relationships between companies.
The component 'Wirtschafts-' (economic/business) is very productive and forms many words that have to do with the economy, for example 'Wirtschaftskrise' (economic crisis), 'Wirtschaftswachstum' (economic growth), or 'Wirtschaftswissenschaft' (economics).
Sie studiert Wirtschaftswissenschaften an der Universität.
She studies economics at the university.
Since it is a specialist field, 'Wirtschaftsrecht' (business law) is often used with verbs such as 'studieren' (to study) or 'sich spezialisieren auf' (to specialize in). You can also be 'ein Experte für Wirtschaftsrecht' (an expert in business law).
Nach dem Studium möchte er sich auf internationales Wirtschaftsrecht spezialisieren.
After his studies, he would like to specialize in international business law.
tax law
'das Steuerrecht' and 'das Wirtschaftsrecht' are both areas of law and can be important in companies. But they do not mean the same thing. 'Steuerrecht' fits when the topic is rules about taxes: Who has to pay which tax, how is it calculated, and what deadlines are there? 'Wirtschaftsrecht' is broader. It concerns legal rules for economic activity, for example contracts, companies, or trade. Learners may confuse the words because taxes are part of economic life. If the topic is directly taxes, 'Steuerrecht' is more precise; if it is generally about legal questions in business, 'Wirtschaftsrecht' fits.
Im Studium behandelt Mehmet auch Wirtschaftsrecht, weil er später in einer Firma arbeiten möchte.
Mehmet also studies business law in his degree program because he wants to work for a company later.
Für ihre neue Arbeit lernt meine Schwester viel über das Steuerrecht.
For her new job, my sister is learning a lot about tax law.