Business Law by Cheryl Chan

ethical conduct - to comply with the legal requirements and make ethical decisions

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Protects individual rights

By having law in business it helps to keep order

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For fairness and equal rights amongst both parties involved in the contract

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Ensure fairness in commercial transaction

Importance of business law

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1) governs various aspect of operations such as tax requirement and product safety standards

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helps ensure fairness in a business transaction between other businesses involved in a deal

essential for protecting business

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To make sure everyone's right in business been protected

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Provide mechanisms for resolving disputes that may arise between parties

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Protect employees from unfair labour practices

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regulate various aspects of business operations including taxation, employment etc

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ensure balance of market, no malicious competition

governs cross-border transactions and international trade

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help to minimize potential risk

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business law contributes to economic stability.

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To ensure everyone’s right

ensure the business is in a fair and lawful order

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My thought on law in business

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I think it is important because it can prevent any conflicts and misunderstanding between people involved in the company.

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ensure the rights of individuals who enter to contract and ensure the justice

ensure fairness in business transaction

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To enforce the contract

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Govern contracts between companies, as well as between businesses and their customers or suppliers.

protect the stability of the financial system also to prevent money laundering

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intellectual property

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Provides framework for creating , interpreting and enforcing contract, ensuring clarity , fairness

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To protect the ip

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Avoid legal problems. Example, fine

to establish standards

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Social responsibility and business ethics are established by business law

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Safeguard the rights of the binding parties

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To protect both parties with law and ensure justice. Meow

Producing and providing goods and services to consumers according to their needs, business also contributes to national development.

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Planning out exactly how you’re going to turn that vision into a successful business is perhaps the most important step between concept and reality.

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Compliance with financial regulations ensures the integrity and stability of financial markets

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to govern the contract and protect the right of both parties