Law
US Business Law
US Business Law refers to the legal framework that governs business activities in the United States. It encompasses a wide range of regulations and statutes that address various aspects of business operations, including contracts, employment, intellectual property, and corporate governance. US Business Law aims to ensure fair competition, protect consumers, and maintain the integrity of the marketplace.
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3 Key excerpts on "US Business Law"
eBook - ePub- Michael Flynn, Kirk Buffington, Richard Pennington, Kirk W. Buffington(Authors)
- 2020(Publication Date)
- Routledge(Publisher)
Contracts operate within a broad context of law and regulations. This chapter focuses on the essential principles and structure of the United States legal system. The discussion introduces statutes broadly applicable to commercial practices in the market economy, the Sherman and Clayton Anti-Trust Acts, as well as their impact on the protection of market competition. The chapter includes two other statutory schemes broadly applicable to both public procurement and other government and commercial operations: open records statutes and intellectual property rights. The chapter concludes with an overview of the United States judicial structure and suggested guidelines for performing legal research.
The American legal system is founded upon English tradition with a singularly American twist. The American legal system looks to statutory law, administrative law, and common law for its guidance.The Foundation: Sources and Types of LawStatutory Law
Statutory law includes the Constitution of the United States in addition to the constitutions of the various states and the charters of local government entities. The United States Constitution is the primary source of law in our country. Among other things, it establishes the relationship between the federal government and the states. The Constitution authorizes the U.S. Congress to enact laws within the powers granted by the Constitution. The authority not specifically granted to Congress or other parts of the federal government are then reserved for the states. As the predominant source of law, public entity legislation, administrative rules, and contract provisions can be invalidated if they violate constitutional protections. For example, the United States Supreme Court has invalidated government contract provisions establishing submission of offers and participation preferences based on the ethnic status of company owners where not supported by adequate factual evidence of past discrimination.Statutory law also includes the legislative enactments by the U.S. Congress, the various states’ legislative bodies, and the legislative actions of local government entities. The primary source of law and authority for public procurement professionals is legislatively enacted statutes and ordinances. This legislation not only grants contracting authority to a government official or entity, but also may set out the specific policies and procedures for purchasing goods and services. For example, most state statutes contain a specific section concerning public works projects that include the requirements for the construction of public buildings and facilities.
eBook - ePub- Tom Craig, David Campbell(Authors)
- 2012(Publication Date)
- Routledge(Publisher)
The legal regulation of business in the UK has increased over recent years. Whilst some aspects of law that affect business are ancient, such as the ancient common laws concerning contract, others have arisen from such factors as employees’ increased expectations from employers and the UK’s supranational influences, particularly the EU. The result of increased regulation is a complex legal environment which some have argued imposes an inconvenient cost burden upon businesses. There is an active political debate regarding the extent to which business should be regulated, particularly with regard to the regulation of employment policies and employers’ obligations towards employees. The political right have tended to oppose greatly increased regulation whilst the European left has tended to espouse a contrary philosophy.All areas of law that we have considered can affect business – both civil and criminal laws apply to business. Furthermore, the tranche of laws that we need to consider includes both common laws and statute legislation. Recent trends have seen an increase in statutory legislation. In considering this area of law, we will discuss it as it affects the various aspects of business practice. No discussion of this nature can possibly be exhaustive, but it is hoped that readers will gain an appreciation of the types of law that can influence and regulate business practice.Company Law
This area of law affects the legal status of limited companies and hence has no direct bearing on unincorporated organisations, such as sole proprietors and partnerships. The conditions placed upon limited companies and their prescribed legal modus operandi are enshrined in a raft of Companies Acts – statutes of Parliament.Company law has tended to evolve and change as the activities and situations which needed to be legislated for changed over time. The earliest pieces of company law were introduced in the nineteenth century. The Companies Act 1844, the Limited Liability Act 1855 and the Joint Stock Companies Act 1856 established the notion of a non-human business entity comprising many investors and members and introduced the important concept of limited liability (see Chapter 4
- Brian Tracy(Author)
- 2023(Publication Date)
- Berrett-Koehler Publishers(Publisher)
CHAPTER THREEThe Laws of Business
20. The Law of Purpose 21. The Law of Organization 22. The Law of Customer Satisfaction 23. The Law of the Customer 24. The Law of Quality 25. The Law of Obsolescence 26. The Law of Innovation 27. The Law of Critical Success Factors 28. The Law of the Market 29. The Law of Specialization 30. The Law of Differentiation 31. The Law of Segmentation 32. The Law of Concentration 33. The Law of ExcellenceThe Laws of Business
President Calvin Coolidge once said, “The business of America is business.” Most of your opportunities for great success in life will come in owning or working for a private business organization. The sooner you learn the laws of business and harmonize your activities with them, the more you will be paid and the faster you will be promoted.There are more than 23 million businesses in the United States today. Somewhere between 600,000 and 1,000,000 new businesses are being incorporated each year, in addition to hundreds of thousands of sole proprietorships and partnerships that are not registered. These businesses are of every conceivable size and structure, from the single individual working from his or her kitchen table to the largest corporate organization employing hundreds of thousands of people.Our business system is very much a part of our way of life. Your ability to understand how this amazing system works is essential to your achieving all that is possible for you in our society. This knowledge can help you to be far more successful than people who never take the time to learn.The rate of change today in business is incredible, and if anything, it is accelerating. Companies are emerging from nowhere, growing rapidly, going public at values of billions of dollars, and then going out of business or being taken over all in a matter of a few short years. We have never seen anything like it before. This incredible rate of change is the one unavoidable and inevitable fact of modern business life.
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