Business law is a branch of civil law that governs business and commerce in both the private and public sectors. It provides a legal framework within which businesses are created and organized as well as how business is conducted. Business law covers a wide variety of topics relating to the law of agency, corporations, partnerships, limited partnerships, franchises, and limited liability companies. It involves such issues as fiduciary relationships, closely held corporations, shares and stockholders, directors and officers, dissolution and receivership, franchise relationships, management duties and liabilities, mergers and acquisitions, securities, and antitrust.