Chapter 01Chapter 01

An Introduction to An Introduction to Dynamic Business Dynamic Business

LawLaw

McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Business LawBusiness LawDefinition: Enforceable rules Definition: Enforceable rules

of conduct that govern of conduct that govern commercial relationshipscommercial relationships

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Functional Areas of Functional Areas of Business Affected By Business Affected By

Business LawBusiness Law Corporate ManagementCorporate Management Production and TransportationProduction and Transportation MarketingMarketing Research and DevelopmentResearch and Development Accounting and FinanceAccounting and Finance Human Resource ManagementHuman Resource Management

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Purposes of the LawPurposes of the Law

Providing orderProviding order Serving as an alternative to Serving as an alternative to

altercationaltercation Facilitating a sense that change is Facilitating a sense that change is

possiblepossible Encouraging social justiceEncouraging social justice Guaranteeing personal freedomsGuaranteeing personal freedoms Serving as a moral guideServing as a moral guide

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Classification of LawClassification of Law

Private Law: Private Law: Involves disputes Involves disputes between private between private individuals or individuals or groupsgroups

Public Law: Public Law: Involves disputes Involves disputes between private between private individuals or individuals or groups and their groups and their governmentgovernment

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Classification of LawClassification of Law

Civil Law: Civil Law: Involves the rights Involves the rights and and responsibilities responsibilities involved in involved in relationships relationships between persons between persons and between and between persons and their persons and their governmentgovernment

Criminal Law: Criminal Law: Involves incidents Involves incidents in which someone in which someone commits an act commits an act against the public against the public as a wholeas a whole

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Sources of Business LawSources of Business Law

ConstitutionsConstitutions StatutesStatutes CasesCases Administrative LawAdministrative Law TreatiesTreaties Executive OrdersExecutive Orders

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Major Federal Administrative Major Federal Administrative Agencies (Independent)Agencies (Independent)

Commodity Futures Trading CommissionCommodity Futures Trading Commission Consumer Product Safety CommissionConsumer Product Safety Commission Equal Employment Opportunity Equal Employment Opportunity

CommissionCommission Federal Trade CommissionFederal Trade Commission Federal Communications CommissionFederal Communications Commission Interstate Commerce CommissionInterstate Commerce Commission National Labor Relations BoardNational Labor Relations Board National Transportation Safety BoardNational Transportation Safety Board Nuclear Regulatory CommissionNuclear Regulatory Commission Securities and Exchange CommissionSecurities and Exchange Commission

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Major Federal Administrative Major Federal Administrative Agencies (Executive)Agencies (Executive)

Federal Deposit Insurance CorporationFederal Deposit Insurance Corporation Occupational Safety and Health Occupational Safety and Health

AdministrationAdministration General Services AdministrationGeneral Services Administration National Aeronautics and Space National Aeronautics and Space

AdministrationAdministration Small Business AdministrationSmall Business Administration U.S. Agency for International DevelopmentU.S. Agency for International Development National Science FoundationNational Science Foundation Veterans AdministrationVeterans Administration Office of Personnel ManagementOffice of Personnel Management

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Schools of JurisprudenceSchools of Jurisprudence

Natural LawNatural Law Legal PositivismLegal Positivism Identification with the VulnerableIdentification with the Vulnerable Historical School: TraditionHistorical School: Tradition Legal RealismLegal Realism Cost-Benefit AnalysisCost-Benefit Analysis

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