Professional Documents
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Working Within The Legal Environment: Bonus Chapter A
Working Within The Legal Environment: Bonus Chapter A
Bonus
Chapter A
*
Working
within the
Legal
Environment
McGraw-Hill/Irwin Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved.
*
DAVID BOIES Profile
Boies, Schiller, and Flexner
*
• Often called the best trial
lawyer in the U.S., Boies
represented IBM, CBS,
Calvin Klein, the New York
Yankees and Wachovia.
• Didn’t learn to read until 3rd
grade because of a
learning disability.
• He now heads his own firm
of over 200 lawyers.
APPA-2
*The Case for
The NEED for LAWS Laws
LG1
*
• Laws are a key part of a civilized society, but
must change with the times.
APPA-3
*The Case for
TYPES of COURT Laws
LG1
*
• Trial courts hear cases of criminal and civil law.
APPA-4
*
The Case for
TYPES of LAW Laws
LG1
*
• Criminal law defines crimes, establishes
punishments, and regulates the investigation and
prosecution of people accused of committing crimes.
APPA-5
*Statutory and
MAJOR AREAS of LAW Common Law
LG1
*
• Statutory Law -- Includes state and federal
constitutions, legislative enactments, treaties of the
federal government and ordinances; written law.
APPA-6
*Administrative
ADMINISTRATIVE AGENCIES Agencies
LG1
*
• Administrative Agencies -- Federal or state
institutions and other government organizations with
delegated power to create rules and regulations
within their given area of authority.
*
• What’s business law?
APPA-8
*Tort Law
WHAT’S TORT LAW?
LG2
*
• Tort -- A wrongful act that
causes injury to another person’s
body, property or reputation.
• Negligence -- An unintentional
tort that causes harm or injury that
was not intended.
APPA-9
*
PRODUCT LIABILITY LAWS Product Liability
LG2
*
• Product Liability -- Holds businesses liable for
harm that results from the production, design, or
inadequate warnings of products they market.
APPA-10
*
MAJOR Product Liability
APPA-11
*Legally Protecting
PATENTS, COPYRIGHTS, and Ideas: Patents,
Copyrights and
TRADEMARKS Trademarks
LG3
*
• Patent -- A document that gives inventors exclusive
rights to their inventions for 20 years.
• Copyright -- Protects a
creator’s rights to materials such
as books, articles, photos,
paintings, and cartoons.
• A trademark is a legally
protected name, symbol, or
design that identifies the goods
or services of a seller.
APPA-12
*
Legally Protecting
PATENT FACTS Ideas: Patents,
Copyrights and
Trademarks
LG3
*
• Patent applicants should
seek the advice of a
lawyer.
• Foreign companies are
eligible to file for U.S.
patents.
• Patent owners have the
right to sell or license the
use of their patent to
others.
APPA-13
*
Legally Protecting
Ideas: Patents,
U.S. PATENT LEADERS in 2008 Copyrights and
Trademarks
LG3
*
Company # of Patents
IBM 4,186
Samsung 3,515
Canon 2,114
Microsoft 2,030
Intel 1,776
APPA-14
* Sales Law:
WHAT’S the The Uniform
Commercial
UNIFORM COMMERCIAL CODE? Code
LG4
*
• Uniform Commercial Code (UCC) -- A
comprehensive commercial law that covers sales
laws and other commercial laws.
APPA-15
*
Warranties
UNDERSTANDING WARRANTIES
LG4
*
• A warranty guarantees that the product sold will
be acceptable for the purpose for which the buyer
intends to use it.
• Express Warranties -- Specific representations
made by the seller that buyers rely on regarding the
goods they purchase.
• Implied Warranties -- Legally imposed on the
seller, who implies that a product will conform to the
standards of trade.
APPA-16
*
Negotiable
NEGOTIABLE INSTRUMENTS Instruments
LG4
*
• Negotiable Instruments -- Forms of commercial
paper that are transferable among businesses and
individuals.
• Four conditions for using negotiable instruments:
1. They must be written and signed by the maker or
drawer.
2. Be made payable on demand or at a certain time.
3. Be made payable to the bearer.
4. Contain an unconditional promise to pay a specified
amount.
APPA-17
*
Contract Law
CONTRACT LAW
LG5
*
• Contract -- A legally
enforceable agreement
between two or more parties.
• Breach of Contract --
When one party fails to follow
the terms of a contract.
APPA-18
*
Contract Law
CONTRACT REQUIREMENTS
LG5
*
• A contract is legal and binding when:
1. An offer is made
- Payment of damages
- Discharge of obligation
APPA-20
*Progress
PROGRESS ASSESSMENT Assessment
*
• What’s the purpose of the Uniform Commercial
Code (UCC)?
• Compare express and implied warranties.
• What are the four elements of a negotiable
instrument specified in the UCC?
• What are the six conditions for a legally binding
contract? What could happen if it’s breached?
APPA-21
*
The History of
The CLAYTON ACT of 1914 Antitrust
Legislation
LG6
*
- Tying contracts
- Interlocking directorates
APPA-22
*The History of
Antitrust
ANTITRUST LEGISLATION Legislation
LG6
*
• The Federal Trade Commission Act of 1914
created the FTC and prohibits unfair methods of
competition in commerce.
APPA-23
*
The History of
HISTORY of HIGH PROFILE Antitrust
Legislation
ANTITRUST CASES LG6
*
Case Year Outcome
U.S. v. Standard Oil 1911 Standard Oil broken into 34 companies
U.S. v. American 1911 American Tobacco split into 16
Tobacco companies
U.S. v. E. I. du Pont de 1961 DuPont ordered to divest its 23%
Nemours ownership in General Motors
U.S. v. AT&T 1982 Settled after Ma Bell spun off into regional
companies
U.S. v. Microsoft 2000 Microsoft ordered to halt prior
anticompetitive practices
APPA-24
*Laws to
Protect
CONSUMER PROTECTIONS Consumers
LG6
*
• Consumerism -- A social movement that seeks to
increase and strengthen the rights and powers of
buyers in relationship to sellers.
APPA-25
*Laws to
NUMBER of IDENTITY THEFT Protect
Consumers
COMPLAINTS LG6
*
APPA-26
*
TAXES Tax Laws
LG7
*
• Taxes -- The way federal, state, and local
governments raise money.
- Property taxes
- Sales taxes
- Excise taxes
APPA-27
*
SIN TAXES Tax Laws
Massachusetts $2.51
Washington $2.03
LG8
*
• Bankruptcy -- The legal process by which a person,
business, or government entity, unable to meet
financial obligations, is relieved of those debts by a
court.
APPA-30
*
GOING, GOING, GONE Tax Laws
Bankruptcies of 2008-2009
LG8
*
• Circuit City
• KB Toys
• Linens ‘n Things
APPA-31
*Bankruptcy
How ASSETS are DIVIDED in Laws
BANKRUPTCY LG8
*
APPA-32
*Deregulation
DEREGULATING COMMERCE vs. Regulation
LG9
*
• Deregulation -- The government withdraws certain
laws and regulations that seem to hinder competition.
• Deregulation efforts
were active in:
- The airline industry
- Telecommunication
APPA-33
*Deregulation
HAMBURGER REGULATIONS vs. Regulation
LG9
*
APPA-34
*Progress
PROGRESS ASSESSMENT Assessment
*
• What’s the purpose of antitrust law?
APPA-35