A corporation is a legal entity that exists to conduct business. It has characteristics like a separate legal personality, limited liability, transferable shares, delegated management under a broad structure. Thus, corporate law is considered to be a body of law, rule, and regulations that governs the functions and formation of corporations. The law regulates legal entities that exist to conduct business. It enables the entrepreneurs and businessmen to transact easily with the medium of the corporate entity. It includes a study of legal and external matter, Merger and Acquisitions and tells as to how shareholders, consumers and other parties involved in transactions communicate with one another with the help of corporate governance and through the commercial transaction. Several statutes define corporate law and these statutes are different in different countries. The main function of corporate law is to reduce the ongoing costs of organizing business through the corporate form. It does the functions by coordinating participants and discussing the different aspects to function. It also helps in solving the conflicts within the corporation between managers and shareholders, and also between the shareholders and the corporation's other constituencies, including creditors and employees.

Corporate law has been historically developed by the formation of corporations, which has taken the form of modern company law. With the development of companies, business and corporations, the scope of company law has emerged, which now includes vast areas of specialization like:

Corporate restructuring which includes changes in the composition of a corporation to have more profitable enterprise like matters related to Insolvency & Bankruptcy which includes a complex role to host critical decisions for an entity and Refinancing, which allows to restore the confidence for the entity while dealing with banks other corporate financial sources by negotiation favourable terms, which the parties had missed.

Another area in corporate law is compliance, which ensures that there is a compliance of rules by the company and its employees. It includes steps like counseling and advising the parties held liable.

Corporate litigation includes any type of legal proceeding to relate anything with business to take steps to avoid as well as to litigate and manage business disputes. It includes a major area of tax advocacy, which deals with all the procedures and issues related to tax by the corporation.

The area of intellectual property rights is an emerging field of corporate law, which deals with the legality of intellectual property rights of companies. It includes the application of patent or trademark, defend a company's patent or trademark, represent case before a patent examiner or board, or write a licensing agreement.

Banking and Finance is an area related to banking and finance including Project finance, Debt Restructuring, Acquisition Finance related to institutions of public & private sector banks, financial institutions, multinationals, and non-banking financial companies.

Real estate issues, International capital markets, and private equity and venture capital transactions are some other major areas of corporate law.

Corporate law thus includes all the matters related to a Corporation. In other words deals with forming, owning, operating and managing a corporation. It includes all the other laws related to the working of a corporation like business law, company law, and tax law. This field of law in emerging and has a great scope in helping the entrepreneurs to work efficiently.