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Role and Functions of Law

In: Business and Management

Submitted By Landogt
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Role and Functions of Law

LAW / 421
July 18, 2012

Role and Functions of Law
Law has a vital and important role in our society. Law is somehow rules created and applied by the government system for peace and order in the society. Law is intended to be interpreted and applied as correctly it was intended to, reasonable and just. Every law has its purpose, and there are many laws for every situation. This also applies to business. There are many laws addressed for the business environment and for every situation in it. The purpose of this laws in business, are intended to ensure that all business related issues and situations are running properly, without affecting their businesses and customers, and/or any consequences in between. In the case of companies, laws are addressed for them to comply correctly and properly with the function and purpose of their business, employees and customers. There are also in the business environment, the labor area, laws that are intended to protect the employees and their right as workers. And there are also many laws addressed to protect and ensure the best interest for the customers. But in business and more importantly addressed to companies, there are laws that prevents them to dominated markets too aggressively and/or completely, or controlling it at all. These laws are mostly as monopoly’s laws, which are addressed directly to prevent any monopoly action or state from any company. These normally are intended for bigger or larger companies, that are seen to be growing in and aggressive way or that their action on the market are seen as an apparently monopoly action, for example, when a company buy, acquires or merge with another company, giving a significance growth and dominance over the market. These action can affect other smaller companies, by for example dominating and/or controlling the supply and demand on the...

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