Every entity, grouping and organization needs a set of laws to control and govern it. The sort of law that governs companies and corporations is known as corporate business law. When a company or corporation is set up, there are very many stake holders who are involved; there are the business owners or share holders, there are the directors who actually run the corporation and then there are the employees who work for the corporation. Aside from those, there are other stake holders like the consumers who actually get the product of service offered by the corporation, the debtors, the creditors and everybody else who in one way or another is affected by the corporation either directly or indirectly. Corporate business law brings all these together and somehow manages to create some sort of common understanding where as much as each section of the stakeholders is looking out for their aims, the others are not in anyway affected adversely.