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Leg 100 Assignment

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Legal Advice Future Initiatives
Introduction
There are several companies around the world that are planning some types of initiatives for the future. Planning for future helps them to stay updates, competitive and helps companies to achieve good results on its operations. On this paper, we shall be discussing some initiatives that might plan for next 5 years. Organization selected for purpose of current paper is Citizens National Bank, and this organization has been planning to moves forward with some financial initiatives related to a possibility that this organization might have certain, sales, licensing and e-commerce laws applicable on it. In the current paper, discussion shall be made regarding all things mentioned in the above.
Organization Selected On the case of the organization selected, Citizens National Bank, the bank was established back on 1910 and had its headquarters in Kentucky. On today’s date, this institution is the second largest independently owned bank in country of United States of America. Citizens Bank currently has its operations spread across 17 countries around the world. There are various kinds of facilities and services that Citizens bank provides by including retail and commercial banking products, mortgage financing, consumer financing and management of assets.
Initiatives Planned by the Bank Regarding this Bank financial initiatives, it can be stated that some types of activities have definitely been previous planned by the bank in current situation. This organization has the initiative to increase its total assets to $1 billion till the year of 2013. The organization must be sure that, it continues to make good acquisitions and that was what they were doing previously to achieve appropriate level of results. (Citizens National Bank, n.d.). The bank’s acquisitions are being happening since year 2005. At this time Bank made a strategy of acquiring Heritage Bank of Ashland and Kentucky National Bank. These acquisitions helped organization to help it in ensuring annual growing and getting better quality results, enhancing to a certain level to quality this institution as the second in the country.
Elements of Administrative Law The laws applicable on organization in the current situation are the laws related to acquisitions and mergers and are termed as antitrust laws. Antitrust laws are the laws on which helps organizations to compete in an appropriate manner with each other. The organization of Citizens National Bank had to assure that it does not get engaged on any acquisition, or merger on which will have some kind of impact on competition in the market. If that is the case, competition on this market might have been affected by acquisition by Citizens National Bank then, the laws shall be applicable and the bank will have to make efforts to avoid the problems in future. (Bagley & Savage, 2010). In this present case, impact of antitrust laws may not be position for organization due to the fact that, organization might end up getting into problems and there is also a possibility that, government might restrict the organization from moving forward with the current acquisition. Government might be of the opinion that, acquisition will negative effect competition in the market. A proof shall be required to be given by the bank regarding the fact that, organization is doing acquisition only for purpose of enhancing value of its assets and not for any other reason. (Bagley & Savage, 2010).

Licensing and E-Commerce Laws If the organization looks forward to enhance value of its assets then, it shall also be required to spread its operations in other countries. In relation to this thing, it shall be necessary for it to make sure that, it gets into licensing agreement with other banks. Bank shall also be engaged in providing e-commerce facilities; therefore, laws regarding e-commerce will also apply on the organization in current situation. Things such as terms and conditions, penalties for breach and the defenses available shall be required to be considered by organization in current situation. Regarding sales laws, the laws regarding fair trade practices will be applicable on organization in current situation. (Harlow & Ostas, 2011).
Recommendations for Minimization of Law Suits The laws which are required to be considered by Citizens National Bank include antitrust laws, laws related to banks and working of the customers and laws made by Federal Reserve and Security and Exchange Commission. In the case of antitrust laws, bank should ensure that, it does not get engaged in any such merger or acquisition which will have negative impact on competition in the market. Antitrust laws are for protection of small organizations from high level competition therefore, in the current situation, there is a possibility that, organization may have penalties if it does not follow the laws appropriately. (Harlow & Ostas, 2011).
Privacy Liabilities The organization can have problems if it shares secret information of its customers to third parties. Bank will have to ensure that, it keeps all the information safe and locked by password so as to avoid and stealing of secret customer information (Emerson, 2009). If such a thing will happen then, organization will avoid the problems regarding privacy liabilities and no law suits shall be made on it.
Product Liability Regarding product liability, it is one of priorities of the company to make sure that, it provides high quality services to customers. The bank is engaged in providing guidance to customers regarding various kinds of things. It has to make sure that, it keeps complete precaution in place regarding the advisory services provided by it. If a bank will provide wrong advisory service then, it shall be under the risk of having product liability. A customer might file a suit against the bank regarding this particular thing and bank may have financial as well as reputation losses. There is also a possibility that bank might be held liable for doing some kind of negligence with the customer. If such kind of case shall happen then, customer will have complete right of filing a suit against the bank (Soulsby & Marsh, 2002).Therefore, this bank should ensure that, it avoids this particular thing also in order to make sure that, high quality results are available with the bank without any kind of problem or issue for it. There are certain kinds of defenses available with bank which can be used by it in order to produce better results. The bank will be required to prove that, there is no linkage between the damage caused to individual and the actions taken by the bank. Federal government and state government in the country of United States of America are engaged in regulating various categories of legal cases. Government will move forward to regulate a business if, there is a situation that, business will cause harm to competition in the market. There is a possibility that, bank can get hit either by civil law or it might get hit by criminal law. If organization does harm to any individual then, civil law shall be applicable. On the other hand, if whole society is affected then, criminal law will be affected.
Conclusion
The current paper was in relation to a particular bank named Citizens National Bank. This bank is a very old bank and has its operations in 17 countries around the world. The financial initiative for the organization for next 5 years is to enhance value of its assets to $1 billion by the year 2013. For doing this, organization shall be required to take various kinds of steps and it will also be necessary for the bank to make sure that, it takes various kinds of laws into consideration in order to avoid liabilities in future. The bank should consider providing help and assistance to its customers to a much higher level. This shall help bank in making sure that, better quality results are achieved by it and in addition to this, there shall also be a situation that, bank avoids any kinds of problems in future. If bank desires to achieve its goals then, it has to work out strategies as well as avoid any kind of legal actions.

References:

Bagley, C. E., & Savage, D. W. (2010). Managers and the legal environment: 2010 custom edition (6th ed.). Mason, OH: South-Western Cengage Learning.

Citizens Bank (n.d.). Retrieved November 28, 2012 from: http://www.citizensbank.com /about-us/history.aspx

Emerson, W.R. (2009). Business Law. (5th ed.). Barron’s Educational Series.

Harlow, G.J. & Ostas, T.D. (2011). The Ethics of Corporate Legal Strategy: A Response to Professor Mayer, American Business Law Journal. Vol. 48(4).

Soulsby, J. & Marsh, B.S. (2002). Business Law. (8th ed.). Nelson Thornes.

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