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Make the Rules or Your Rivals Will

In: Business and Management

Submitted By lenafran22
Words 2059
Pages 9
Essay for Make the Rules or your Rivals Will
November 22, 2011

"Make the Rules or your Rivals Will"! It is the name of the game and a strategy to win at your opponent. Wow, what a powerful statement in today's business world! Upon reading the book by Richard Shell, the title alone captures the pure essence of how businesses have utilized the legal system to their advantage since the early 1800's. Businesses are formed on a daily basis and can range from a mom and pop sole proprietorship, a big corporate giant to the masses, or a huge conglomerate government business to maintain the laws of the land. Law and business are interrelated and one cannot survive without the other and the glue that binds them together is legal strategy. The legal environment in which businesses operate is becoming more complex and companies must understand the basics of business law if they want to avoid legal entanglements. Situations that present potential legal problems arise everyday in most businesses and owners need to be aware and posture themselves to handle these issues effectively and quickly. There would be pure chaos in today's capitalistic society if there was not a standard way of doing business because business needs are always evolving from decade to decade. Back in the 1800's there were not any class action lawsuits, litigation explosions, securities regulations or antitrust laws. The business arena needs a way to change the rules as it relates to the business environment and maintain healthy competition amongst businesses in the world. Legal strategy is the ammunition used to change the laws as it relates to business. According to the author Shell, laws and legal institutions can make or break a business or an entire industry. A small manufacturer who reneges on a contract for a needed raw material when he or she finds a better price elsewhere...

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