Law is an increasingly significant factor in business. In any business decision fundamental legal questions may arise about the potential liabilities of the parties, the rights that the parties have and how the business or transaction should be organised. This subject introduces the Australian legal system; outlines alternative forms of business organisation; discusses the legal framework of business regulation; and examines areas of law particularly relevant to business including the law of contract and torts, the laws relating to specialised commercial transactions, the regulation of restrictive trade practices and sales promotion, and intellectual property.