贸易是任何国家的生命线，对国内生产总值增长起主要作用，也影响到经济增长。第二次世界大战后，贸易惯例在国际上迅速增长。因此，需要国际商法来激励所有的贸易伙伴制定共同的法律，帮助他们在国外开展业务（Knight，2004）。对于律师和律师而言，商业法的知识需要一个小时，因为贸易正在迅速扩大，与此相关的问题也是如此。 “Lexis Nexus和国际律师协会”在八个国家对这些国家的律师进行了调查。这导致了国内贸易法和商法领域的律师们认为，由于世界正在全球化贸易网络化，世界贸易和投资的规范化法律对全世界都有利。
Law is a systematic function enforced by the authorities on the citizens of a community or country in the form of rules and regulations which are to be followed by every member, and if they fail to do so they can be punished with penalty.
Commercial law covers the areas of business and commerce. It covers all business transactions between business entities. It governs the trading system of a country, manufacturing and sales of consumer goods produced in a country and corporate contracts. It regulates the rights and duties of individuals engaged in any king of trade or business with one another.
Internalization of regulations would benefit countries in trade and commerce if a set of rules that could be applied and enforced regardless of jurisdiction of the country. This statement is very true and is of concern in the present scenario of globalization.
Trade in present scenario:
Trade is the life line of business of any country and plays a major role in the increase of GDP of the country and also affects its economic growth. After world war –II, trade practices have grown up at a rapid rate at international levels. Therefore, the need for international commercial laws aroused so that there could be common laws for all trade partners which helps them to conduct business in foreign countries (Knight, 2004). Knowledge of commercial laws for lawyers and attorneys is a need of an hour as trade is expanding at a rapid rate so are the issues related to it. A survey was conducted by the ‘Lexis Nexus and International Bar Association’ in eight countries on attorneys of those countries. This lead to the result that the attorneys in the areas of trade and commerce law in still domestic and they believed that standardized laws in trade and investment would be beneficial for the whole world because the world is getting knitted in the web of globalised trade.