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Offices in the Los Angeles Downtown Financial DistrictA very detailed and well-established physique of guidelines that evolved over a really long period of time applies to business transactions. The need to regulate trade and commerce and resolve business disputes helped shape the creation of regulation and courts. The Code of Hammurabi dates back Business news to about 1772 BC for example and contains provisions that relate, amongst other matters, to delivery prices and dealings between retailers and brokers. The word “corporation” derives from the Latin corpus, which means body, and the Maurya Empire in Iron-Age India accorded legal rights to business entities.