Legal Environment of Business

Course Description

This course prepares the manager to make business decisions within a legal and ethical framework. Topics include the regulatory environment, contracts, business torts, partnership and corporations, anti-trust, environmental law, employment law, and ethical considerations in business.

Topics and Objectives

Legal Systems

• Identify the sources and purposes of law.
• Analyze the sources of potential legal disputes.
• Distinguish among the various legal forums where business cases may be adjudicated.
• Identify the steps in the litigation process and the roles of the participants.
• Evaluate the applications of alternative dispute resolution (ADR) processes for resolving business disputes.

The Regulation of Business

• Recognize the application of the Constitution to the government's regulation of business.
• Analyze the origins, evolution, and powers of administrative agencies.
• Compare and contrast the various forms of business organizations.
• Evaluate the application of securities laws and regulations on business, e.g., insider trading, going public (IPO), and mandatory reporting.

Contract and Tort Law

• Examine the key elements in a valid contract and the importance of enforcing private agreements.
• Assess the legal and ethical obligations imposed on businesses to avoid injury to persons or property.
• Distinguish between the purposes of contract law and tort law and available remedies.
• Summarize the different forms of intellectual property rights.

Criminal, Environmental, and Anti-Trust Law

• Compare and contrast criminal and civil liability, both personal and organizational.
• Differentiate among the laws and regulations designed to promote free enterprise and fair competition.
• Debate the benefits of preserving and protecting natural resources against the detriments of the unlimited expansion with manufacturing and production.

Employment Law

• Examine employment-at-will and the growing exceptions to this doctrine.
• Evaluate the role of the labor union, organizing activity, and collective bargaining on managing employer/employee relations.
• Identify the various federal, state, and local discrimination laws and their impact on workplace behavior.
• Assess the advantages and disadvantages of affirmative action programs.

The Ethical and Global Environment of Business Law

• Compare and contrast the ethical and legal obligations of business.
• Identify how the various international legal, regulatory, cultural, and ethical environments impact domestic entities operating abroad.
• Distinguish the methods used for resolving international disputes with those used domestically.