Introduction The law of business (or commercial law):   * set of regulations to govern commercial transactions and business interactions;   * is characterized as civil law and covers the regulations of both private and public sectors of business ( Commercial Law in UAE , 2015). Basic business law in UAE:   * Foreign investment law;   * Competition law;   * Laws for businesses working in the territory of Dubai (licensing);   * Law on certificate origin;   * Law on commercial arbitration ( Commercial Law in UAE , 2015). These regulations are critical when it comes to the protection of the rights of versatile stakeholders such as the employees, the employers, the shareholders, and customers. The rules also help to achieve better efficiency and transparency of practices. Background The New Law was introduced on the 1st of April 2015. It presented a set of important reforms concerning some fundamental regulations in the spheres of business and commerce. Apart from establishing several additions and amendments, the New Law majorly preserved the old features and provisions that are essential to the old set of regulations (Ibrahim , 2015). The New Law applies to:   * Private joints stock companies (JSCs);   * Public joint stock companies;   * Limited liability companies (LLCs). Companies the Law Does Not Apply to Companies that work in the sectors of oil, gas, power, water, and energy sectors and that are directly or indirectly owned by the government (at least by 25%). Companies owned by the UAE government fully or those whose ownership belongs to the government of one of the Emirates. The entities that operate in the free zone because free zone has a regulation that excludes the relation of the New Law to such companies. At the same time, the applicability of the New Law is functional in the spheres were the free zone entities are allowed to conduct business operations onshore. Finally, the companies that are exempted from the applicability of the New Law by the cabinet resolution or federal law (Ibrahim, 2015). Public Joint Stock Companies Article 107 – public JSC can be founded by ten establishers minimum (it used to be five in the old law). Article 117 – founders of a company are permitted to own 30 to 70% of its capital, in the previous regulation the percentage limits used to be lower – 20 and 45%. The New Law encourages the business owners to proceed with the initial public offering (IPO). Article 129 (book-building practices of IPO) – pricing is decided by the issuers and banks in agreement with investors and selling shareholders. Article 151 – the regulations concerning the nationality of the board members remain without changes; namely, the majority of the board members, as well as the chairperson, are to be the UAE natives. Article 225 – the conversion of a company debt to equity is an option (this option was not mentioned in the previous regulation) (Ibrahim, 2015). Limited Liability Companies Article 71 – the LLCs can now be owned by sole owners (natural or corporate persons), previously, the minimal number of founders was set on two. The minimum of managers assigned in a company may now be one (it used to be two in the old law); the maximum number of managers