...The Role and Functions of Business Law Tanisha Haynes LAW/421 July 18, 2013 Ms. Lindsey Cole The Role and Functions of Business Law When people hear the word law, one will think of the laws in which people have to abide by on a daily basis. There are several different variations to the laws; there are states laws. Each state has their own rules for their citizens to follow. Then there is the Federal law, which governs the government. According to Melvin, “the term law is defined as a body of rules of actions or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011). Laws, established to keep order within a small area like a neighborhood or driving down the street in a vehicle. The laws are here to protect the innocent and charge the guilty. The laws play a big part in people everyday lives. When driving down a busy highway, people are following the rules of the road, which are laws set to guide the drivers safety. In the business world, laws work the same way. A few examples of different laws are common law, statutory law, administrative law and constitutional law. While working for the United States Postal Service (USPS), Tanisha had and on the job injury while running letter mail on a sorter. She mashed her thumb inside the door of the machine. She knew that if she reported the accident, she would have to file paperwork and go to the urgent care and she did not want to go through the hassle. As time went on, she noticed...
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...Functions and Roles of Law in Business and Society xxxxxxx LAW/421 xxxxxxx Functions and roles of law in business and society The governance of business through state and federal laws is a very complex system. Many laws, statutes, and regulations are in place to protect the consumer and the business. These laws stem from city ordinances in local municipalities to Congress’s broad commerce powers that have the final say. Each of these laws and regulations have specific roles and are designed to function in certain ways. Roles The regulation of interstate commerce is governed by Congress’s Commerce Clause. This clause is designed to give the unrivaled power to Congress to have the supreme rule over interstate commerce. “Congress exercises its commerce powers in various forms. However, the direct and broad power to regulate all persons and products related to the flow of interstate commerce is the fundamental source of its authority” (Melvin, 2011, p. 32). Functions In the case of Cipollone v. Liggett Group, Inc., where Cipollone is pursuing suit against Ligget for restitution in the death of his mother due to violations of New Jersey consumer laws. However, Congress utilized the Supremacy Clause and ruled against Cipollone because federal law contradicted the consumer protection put in place by New Jersey. This is a great example of the function of Congress’s broad power to step in when necessary, provided there is legal ground for their action. If...
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...The Functions and Role of Law in Business and Society Henry David Thoreau once said, “If the machine of government is of such a nature that it requires you to be the agent of injustice to another, then, I say, break the law.” (Henry David Thoreau, n.d.) Mr. Thoreau was perceptive in that he knew in government, sometimes a person may have to do something that is not favorable in the eyes of the majority, but the right thing to do for a minority group of people. In the proceeding pages, I will attempt to define the functions and role of law in business and society. I will discuss the functions and role of law as it pertains to a previous job. The Functions and Role of Law in Business and Society Cipollone brought suit against Liggett for violation of several New Jersey consumer protection statutes alleging that Liggett (and other cigarette manufacturers) were liable for his mother’s death because they engaged in a course of conduct including false advertising, fraudulently misrepresenting the hazards of smoking, and conspiracy to deprive the public of medical and scientific information about smoking. Liggett urged the court to dismiss the state law claims contending that the claims related to the manufacturer’s advertising and promotional activities were preempted by two federal laws: (1) the Federal Cigarette Labeling and Advertising Act of 1965, and (2) the Public Health Cigarette Smoking Act of 1969. (Melvin, p. 33, 2011) It can be said that Liggett...
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...Functions and Role of Law in Business and Society Introduction Law has a huge role in both business and society. It has evolved from basic morality and society cannot exist properly without it. Law most often is aligned with customs and that which society has deemed to be right or wrong (Emerson, 2009). In business, companies would have a free- for- all without it. The result would be that no business would actually be achieved. Law in Business Laws govern every aspect of business. They keep businesses running smoothly and keep them from hurting each other and the consumers. There are laws that control interstate, intrastate, e-business and, international business. They control manufacturing, distribution, shipping and employment. Patents, trademarks, and copyrights are all protected by the law. Companies can be held to product safety laws concerning product liability. Product liability is the responsibility of people, sellers and manufacturers concerning death, damages or injuries due to defective products (Wild, 2010). Another type of business law is an antitrust law that keeps companies from market sharing, price fixing, and monopolizing an industry. There are many government agencies that control business law. Some examples are the Federal Trade Commission, U.S. Consumer Product Safety Commission, U.S. Patent and Trademark Office and the U.S., and the International Trade Commission. Law in Society Laws touch every aspect of social behavior across all walks of life...
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...University of Phoenix | Organizational Ethics | A better understanding | | Murray, Damian A. | [Pick the date] | [Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] | Inside of this essay I will be discussing organizational ethics within the workplace could all be properly address by using ethical principles. I will also be covering about what external pressures on the outside of the workplace could affect organizational ethics that are in place, Weather or not such external issues would carry any weight inside of the organization and impact personal decisions. And lastly what is the relationship between ethics and the legal system. The organization that I choose to discuss will be on my experience in working in the United States Navy. During my tenure with the military there were very few external pressures that were present at that time. The primary pressure was that of good sailors were being forced out of their military contacts to overall save our government money. This stemmed from pressures from the senate to cut personnel that were not making advancements in rank and lowering manning capabilities around the fleet. And inside of the military it is our duty to always be ready to get deployed at any given time but due to the lack of manning it forced smaller ships to miss deadlines...
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... SOLE PROPRIETORSHIP: The owner and the business are considered one. The owner takes all the risk and receives all the profits. It is easy and inexpensive to start up a sole proprietorship however a sole owner has trouble raising capital which could limit growth. • LIABILITY –If the business fails the owner is financially responsible and my lose everything. • INCOME TAXES – The proprietor and the business are taxed together. • LONGEVITY/CONTINUITY – The business dies with the sole proprietor. • CONTROL – There is no boss the owner has total control over the operations. • PROFIT RETENTION – All of the profits are considered personal income of the sole proprietor. • LOCATION – The owner can move or expand the business as they see fit they are easy to set up and work in any setting appropriate for the business. Most sole proprietorships are home based or have small offices and storefronts. GENERAL PARTNERSHIP: is a business owned by two or more owners. In General partnerships each partner is fully active in the firm giving input in management and each partner is fully liable for the debts of the business. • LIABILITY – Each partner assumes unlimited liability for the debts of the business and can be held totally responsible for debts and malpractice committed by any of the partners. • INCOME TAXES – A partnership is a pass-through entity, not a separate taxable entity, and no federal income tax is imposed on the business itself. Each partner clams the profits or...
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...Business Entities Paper Arbra Jones Business Law BUS/415 Professor Dina C. Gledhill February 20, 2012 Business Entities This paper will evaluate three scenarios, restaurant and bar with wealthy third party investor, an extermination company with a wealthy owner and investor, and a construction company which is hiring for particular position. The business entity that represents the best choice for each business will be identified as well as the laws, regulations, taxation, and control each business must consider. The liability issues each business must protected from will also be discussed. The evaluation of the construction company will identify and discuss employment laws and regulations the company must abide by. Restaurant and Bar Scenario Based on information provided in the scenario, Lou and Jose want to open a sports bar and restaurant. Miriam, a wealthy investor, has agreed to invest in the venture because Lou and Jose do not have enough startup capital. In return for her investment Miriam will receive a percentage of the company’s profit as an owner. Business Entity, Control, Taxation, and Liability A partnership would be the best business entity for the sports bar because there are three owners that will participate in the business and receive a percentage of the business profits. Miriam will provide the investment capital and Lou and Jose will run the day-to-day operations. A partnership allows all parties to have control of the business and decisions...
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...Lit1 Task 310.1.2-01-06 Part A Determining whether to start or invest in a business endeavor and what kind of business endeavor to choose can be challenging. Through this report the numerous types of business organizations will be assessed. By the end of the report you should have a greater comprehension of the different choices available. * Sole Proprietorship: To start off it is essential to have a clear understanding of what sole proprietorship means. As the sole proprietor you are the owner and the operator of that business. In more detail, the sole proprietor manages everything including setting up the business. An attorney is only needed if the sole proprietor plans to report the name of the business under a name other than their own. In that instance they would need to register the business with the government. * Liability: A full understanding of all liability and where it falls is very important. All liability falls on the owner on the company. This means that not only all of the company’s assets but also the owner’s personal belongings possibly will be occupied in any scenario where the company fails. More specifically, in the event that the company flops because of unfortunate market settings, poor business policy or if there is an injury suffered implicated by company products. The liability falls on the owner of the company including all characteristics of the business and can be brought into any legal actions. * Income Taxes: As a sole proprietor...
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...Family Related Issues by Darryl Mitchell Professor Kenneth Pino Law, Ethics, and Corporate Governance – LEG 500 July 23, 2011 1. Explain if it matters that a parent literally had nothing to do with a biological child in order for the child to take advantage of the Family and Medical Leave Act (FMLA) to care for that parent. Whether a parent had nothing to do with a biological child have nothing to do with the child being eligible for FMLA to care for that parent and it shouldn’t matter. Regardless of the relationship between a parent and child, the child would fall under the FMLA and would be able to care for the parent. Under FMLA, an employee can care for a parent if they have a serious health issue. Even though the video never stated what the issue is, since the father will be having surgery that would fall under a reasonable explanation for the employee to take the leave. A parent can be either a biological parent or someone who stood in place of a parent in raising a child. It never states anything about the type of relationship a parent needs to have with the child. Since he is actually the biological child he would fall under the FMLA and would be able to care for the parent. 2. Explain whether the size of the business can have any effect on whether Tony is eligible for family leave under the FMLA. The size of the business can have an effect on whether Tony is eligible for family leave under the FMLA but not in the way Herman describes...
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...refers to a form of organization owned by a single individual. In this business, a single person makes all the decisions and does not have to engage a legal department to approve contracts. The owner of such a business can only use personal funds even though he or she may have separate checking and savings accounts for the business. The first characteristic of this form of business enterprise is liability. A sole proprietor suffers from unlimited liability. The owner becomes liable personally for all the obligations and debts of the business. The second characteristic is income taxes. Businesses pay federal income tax just like individuals. In a sole proprietorship, the owner pays income tax only once on the business income, which he or she reports on their personal income form. The third characteristic is control. In a sole proprietorship, the owner makes all the decisions concerning the business. In this business, the owner does not have to grant control to other people. The fourth characteristic is profit retention. If a sole proprietorship makes profits, the money belongs exclusively to the owner. The reason is that the owner and the business are one. The fifth is location. The owner can move or expand the business to a different state without consulting anybody. This is because the owner is the sole decision maker. The sixth characteristic is convenience or burden. The owner makes sure that the business complies with all meeting, reporting, and other regulatory requirements...
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...SITUATION A Issue For Review: Employee A requested to be paid for his 11 week LOA. Management denied request. The Family and Medical Leave Act of 1993 (FMLA) The Family and Medical Leave Act (FMLA) is a U.S. federal law which requires employers to provide eligible employees at least 12 weeks of unpaid, leave of absence (LOA) time for certain qualifying medical or domestic reasons. The mandates of FMLA guarantee that the returning LOA employee will be reinstated the same or equivalent position, job duties, rate of pay, and benefits they held prior to taking leave. Covered Employers Eligible Employees • Private Sector Employers - Any business with 50 or more employees who have worked for 20 or more work weeks within the current -or last- calendar year. • State/Federal Agencies • Labor Unions • Employment Agencies • Employee must work for a federally recognized covered employer. • Employee has a minimum 12 months of service for employer; prior to a LOA, employee must have accrued service hours which total 1,250 or more. • Employee reported to a main work location which has a minimum of 50 employees within a 75 mile radius. Qualifying Reasons For FMLA: Serious Medical Condition - The employee cannot perform their job duties due to serious health issues. Military Service - Hardship resulting from spouse, child, or parent who is an active member of the military and is called into active service / deployment. Family Health Condition - Employee must care for...
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...are not many legal formalities involved in starting an event management company. All the formalities of registration for sales tax, service tax, etc. are the same as in any other business.” However, for carrying out an event at an outside venue, you need certain authorisations from the local bodies. In a place like Chandigarh one needs 6-7 authorisations whereas the number can go up to some 21 authorisations in Delhi. Some essential authorisations include a permit from the Municipal Corporation (for putting up advertisements), the Superintendent of Police (security), the SDM (law and order) and a no objection certificate from the DC office. Ketan Lotia, Founder, Miracle Magic says, “Various regulations especially concerning live performances, animal shows, road shows, etc. are necessary keeping in mind law and order and the safety of the performing animals, the spectators and the clients.” Legally Yours You will need to create a legal entity for your business venture. Decide whether you want to function as a Limited Liability Company (or LLC), a corporation, a partnership or would you want to be the sole proprietor. Bear in mind that when it comes to sole proprietorship liability protections are not provided. It is also easy to register a company these days using the services of such online business entity registration companies as BizFilings, LegalFilings and LegalZoom and so...
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...Business Entities, Laws, and Regulations Trudy E. Hartis BUS/415 November 20, 2011 Mark Rorem Business Entities, Laws, and Regulations A business assumes limitations and liabilities when building the structure of the organization. There are several types of business entities, hiring an accountant or attorney can help you decide what type of business structure best fits the need of the organization or business that you want to establish. Sole proprietorship, is a form of business with the least amount of legal formalities and the owner assumes sole responsibility for finances and operations of the business. “C” Corporation, are separate entity from its owners. Providing shareholders protection from liability and debts. “S” Corporation, similar to a corporation and is exempt from federal income tax. General Partnership, require an agreement between two or more individuals or entities to own and operate a business. Limited Partnership, form of business that offers some of the partner’s limited liability. Limited partners contribute capital and have limited liability but assume not active role in the daily business affairs. Limited Liability Partnership, LLP’s is organized to protect individual partners form personal liability for the negligent acts of others partners or employees not under their direct control. Limited Liability Company, LLC is a combination of the corporate and partnership forms of business (Types of Business Entities, 2004)...
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...The intricacies of doing business in Indonesia will present a mystery to newcomers. Rest assured that there are many “seasoned veterans” that can assist you in your transition to your new job in Indonesia or assist you in making your business venture in Indonesia a success. Expatriate Business Associations Join an expatriate business association and get involved! A sure way to keep in touch with what is going on in the business world around you. Foreign Investment and Company Establishment Are you considering starting a business in Indonesia? Find out a bit about what is involved. Serviced Offices A viable option for new offices - hit the ground running with a fully equipped office from day one. Business Consulting Services Firms providing consulting services to multinationals ... all the help you need to build your business in Indonesia! Legal Matters in Indonesia - "If people do not have access to the law, they cannot know their rights. If people do not know their rights, they cannot demand the enforcement of their rights. If people are not empowered to demand the enforcement of their rights, they will be exploited and abused by those with access to power over the law." Learn more in this article. Cross Cultural Training for Expatriates Learn more about the challenges of working in a cross cultural environment. Practical information and true life solutions from experts in the field! Corporate Taxation An introduction to the broad framework of the Indonesian...
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...ASSIGNMENT # 2- FAMILY RELATED ISSUES LEG 500- LAW, ETHIC, AND CORPORATE GOVERNANCE DRA NEKIA HACKWORTH KARLA ZALDANA JAN 30, 2012 INTRODUCTION The FMLA entitles eligible employees of covered employers to take unpaid, job-protected leave of specified family and medical reasons with continuation of group health insurance coverage under the same terms and conditions as if the employee had no taken leave. Eligible employees are entitled to: Twelve workweeks of leave in a 12-month period for: • The birth of a child and to care for the newborn child within one year of birth • The placement with the employee of a child for adoption or foster care and to care for the newly placed child within one year of placement; • To care for the employee’s spouse, child, or parent who has a serious health condition. • A serious health condition that makes the employee unable to perform the essential functions of his or her job. • Any qualifying exigency arising out of the fact that the employee’s spouse, son, daughter, or parent is covered military member on “covered active duty;” Twenty six workweeks of leave during a single 12 month period to care for a covered service member with a serious injury or illness if the eligible employee is the service member’s spouse, son, daughter, parent, or next of kin (military caregiver leave) • 1. Explain if it matters that a parent...
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