According to HG.org, businesses laws are implemented to provide all organizations in the marketplace with fair conditions to succeed. The actions of businesses, their owners and their employees are regulated by laws meant to protect businesses from other entities that want to cheat them and vice versa.Know More
According to the National Business Education Association, all businesses must be created to exist under the laws of the place where they reside. For businesses operating between cities or internationally, they must comply with all laws that affect them in both regions. Because business law is vast and complex, a business needs to have lawyers to interpret and advise proper action to ensure compliance.
"The Legal and Ethical Environment of Business" explains that to aid businesses and their legal staff, governments create regulating bodies. Agencies such as the U.S. Securities and Exchange Commission exist to protect investors and consumers by holding businesses accountable for any dangerous or fraudulent practices.
HG.org explains that business law is meant to provide guidelines by which businesses are able to avoid litigation. It is beneficial to seek the counsel of lawyers who specialize in business law before a business forms because these lawyers are acquainted with the pitfalls the new business seeks to avoid. A good lawyer is able to structure contracts and exchanges such that the business remains compliant with law to minimize liabilities while remaining as profitable as possible.Learn more about Law
According to The Judicial Learning Center, law is a crucial system that allows human society to function in a manner that is as safe, fair and profitable for as many people as possible. Obeying the law is not only beneficial to society as a whole, but it allows individuals to reap the protections of living in an orderly environment.Full Answer >
Due to the Supremacy Clause in the United States Constitution, federal law overrides state law in most cases. The Supremacy Clause is closely related to the idea of preemption.Full Answer >
According to the Internet Encyclopedia of Philosophy, one philosophical view states that the essential purpose of law in human society is the promotion or achievement of social order. Legal rules comprise a system that is intended to guide human behavior to a desirable end.Full Answer >
The four functions of law include defending people from evil, promoting the common good, resolving disputes and encouraging people to do the right thing. These four functions are essential to human welfare.Full Answer >