1. The law consists of enforceable rules governing relationships among individuals and society.
2. The law serves several purposes. a. Protect individuals b. Protect society c. Protect property, and d. Protect objectives
3. How does the law achieve the aforementioned purposes? a. By establishing confidence in the enforcement of laws
b. Providing a certain degree of predictability as to what will happen if the laws are violated
4. If any society is to survive, its citizens must be able to determine What is legally right and wrong and be able to determine what sanctions may be imposed on them if they commit wrongful acts
5. Why should you care about the law? a. The law affects virtually ALL business transactions and activities, including:
i. Hiring and firing ii. Workplace safety iii. Manufacturing, distributing & marketing of products iv. Financing v. Accounting & ethics and vi. Many other areas as well
6. You are the owner of a company called Compudata – a computer software & systems company. You receive an inquiry from BMI, Inc. regarding your company’s various services.
a. What are some of the legal issues you need to consider?
i. How do we enter into a contract Contracts ii. What happens if BMI breaches Remedies iii. How do we protect our product IP iv. Are we dealing with the right person Agency v. What happens if we have a dispute Litigation vi. What happens if our products hurts someone Product Liability vii. Does making our product impact the environment Environmental Law
