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Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors. Businesses often have important «intellectual property» that needs protection from competitors for the company to stay profitable. Laws can govern the treatment of labour and employee relations, worker protection and safety, discrimination on the basis of age, gender, disability, race, and in some jurisdictions, sexual orientation, and the minimum wage, as well as unions, worker compensation, and working hours and leave. Commercial law spans general corporate law, employment and labor law, health-care law, securities law, mergers and acquisitions, tax law, employee benefit plans, food and drug regulation, intellectual property law on copyrights, patents, trademarks, telecommunications law, and financing. This could require patents, copyrights, trademarks, or preservation of trade secrets. The trade union, through its leadership, bargains with the employer on behalf of union members (rank and file members) and negotiates labor contracts (collective bargaining) with employers. 4. «Going public» through a process known as an initial public offering (IPO) means that part of the business will be owned by members of the public.
