Role and Functions of Law Law 421 July 16, 2012 Dr. Stephen Loro The role and function of law in business and society is essential due in part because legal matters influence how both business and society operate. Understanding law and its purpose allows us as individuals in society and perhaps in our role in business to organize, prepare and plan our course of action. One of the fundamentals associated with law as we know it is the United States Constitution. In addition to the Constitution each individual state has an established Constitution; each has a part or purpose in the legal practices that govern us in society and in business. According to the textbook the Constitution has three functions the first being to set up a structure for the federal government and rules for modifying the constitution, second provide powers for branches of the government and third to grant protections and liberties for United States Citizens from illegal or unlawful government practices.
Utilitarianism focuses on: | | | | | Correct Answer: | the consequences of an action. | | | | | Question 3 | | | Equity Capital Corporation provides other firms with funds to expand operations. Questions of what is ethical involve the extent to which Equity has | | | | | | Correct Answer: | an ethical duty beyond those duties mandated by law. | | | | | Question 4 | | Establishing which duties take priority over others determines a firm's views on corporate social responsibility. | | | | Correct Answer: | True.
Other issue is what country laws should be applied and whether any foreign judgment obtained might be enforced in the court of choice. The international countries laws are the laws that need to be taken into consideration because the United States law is only upheld within the United States and not international countries. When going into a contract with international companies the Unites States must make sure the international company can enforce the contract legally. The United States must also consider the cultural and ethical differences in business transactions. What factors could work against CadMex's decision to grant sublicensing agreements?
Legal issues and ethics also effect management. Many influences, external as well as internal, also affect the way Tyco does business. Applying Tyco's strategic, tactical, operational and contingency plans will help manage these outside and inside influences without disrupting the ongoing success of the business.” Tyco applies the four functions of management: planning. Organizing, leading, and controlling to their
One of the main objectives of the simulation was addressing some of the potential legal and ethic issues resulting from such a partnership. While developing a contract that meet each company needs and offered protection to property rights and potential disputes. In working through the simulation some of the issues involved with working with foreign business are the legal system. An organization dealing with legal issue in a foreign court run the tendency of the case reviewed quickly resulting in facts being overlooked. Another issue is the difference is two countries law what is able to stand-up as proof
Addressing International Legal and Ethical Issues Simulation Erik Larson Law/421 February 17th, 2013 Eric Nord Addressing International Legal and Ethical Issues Simulation Strategy and tact are both required when a profitable endeavor is wanted while conducting international business. When conducting international business, legal issues are bound to arise, but must be resolved in order to retain the relationship between organizations. How a company deals with these legal issues is what can set a successful company apart from the rest of the field. When entering into an agreement with a company in another country, legal documents must be drafted to protect each company’s interest. In a business context, dispute resolution is not simply
Canadian Legal System * Preparation – chapter 1: Knowledge of law as a business asset knowledge of the law is a business asset that can assist owners and managers in reaching their goals and objectives. This is because business law: defines general rules of commerce protects business ideas and more tangible forms of property provides mechanisms that permit businesspeople to select their desired degree of participation and exposure to risk in business ventures seeks to ensure that losses are borne by those who are responsible for them facilitates planning by ensuring compliance with commitments law is a set of rules and principles intended to guide conduct in society, primarily by protecting persons and their property, facilitating personal
International Legal and Ethical Issues Eddie Brown Law/421 September 25, 2014 Lydia Quarles International Legal and Ethical Issues Companies are informed of international legal and ethical issues procedures on how to do business with foreign countries. The international legal issue are choices surrounding law selecting local counsel, understanding of the local laws, and due diligence must be considered in order to make good decisions when doing business in other countries. In the simulation, the legal issue that affect CEMEX was understanding of the laws of the country they were doing business with laws that are managed by the government of other countries could causes problem with their business agreement. The issues Involved in
Role and Functions of Law Paper Gabriel Berumen LAW/421 March 25, 2015 Prof Danielle Diaz The Function and Role of Law in Business and Society There are many factors that build up and affect business and society. Law plays a big role in these two and in many other subjects. To understand the role it plays, we must first have an understanding of what law is. There are a plethora of sources you can check to get a definition for the term. Melvin (2011) “Law is a body of rules of action or conduct prescribed by controlling authority, and having legal binding force.” (Melvin, 2011, Chapter 1).
Business Regulation The United States Constitution and the United States legal system do play a role in regulating business in this country. The commerce clause and the equal protection clause from the Constitution both play a role in the regulation of business. Although businesses may have their own codes of conduct, the United States legal system and the Constitution regulate the way they do business. This process is done in several ways, one being how the Constitution does not allow monopolies, the other being how racial, sexual, and other areas of misconduct are kept out of the workplace thanks to how the U.S. legal system works. Within the way the United States runs all forms of commerce, the Constitution and the legal systems both regulate this process.