Law Impact on Businesses
Purpose of Assignment
Law impacts how business operations perform. With globalization, the law’s impact and corresponding business risks have grown. The student will learn to consider how and when a business risk should be pursued under traditional litigation (lawsuit, answer, and discovery) and where alternative dispute resolution methods are appropriate in both domestic and international disputes.
Assignment Steps
Resources: Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 1, Ch. 2 (pp. 23-32), Ch. 3, Ch. 4 and Ch. 26; sites such as: Public Library of Law, Law Library of Congress, and Justia Virtual Chase law database
Select a business or industry with which you are familiar and, in a minimum of 700 words, excluding title and reference pages, develop an analysis including the following:
- Identify at least two ways the U.S. legal system affects that business or industry.
- Examine the risks that business or industry encounters when dealing with traditional litigation, (suit, answer, discovery, trial) and what measures business managers can take to reduce exposure to those risks.
- Choose a global/international business dispute from your business or industry, then compare and contrast one form of alternative dispute resolution (ADR) with traditional litigation with regard to that dispute, and recommend which method is preferred and why.
Cite a minimum of three scholarly references. One scholarly reference must be from the University Library.
Format your paper consistent with APA guidelines.
Answer Preview
An understanding of the laws of the business is very important because it helps then avoid getting into any legal implications. It is very crucial for the employer and other business stakeholders to know how the law operates. One of the ways in which the business is affected by law is through accounting. The law has now come up with a new provision which regulates the…
(886 Words)