...Recognize and minimize the risks associated with torts. According to Henery Cheeseman, 2010, “Tort law imposes a duty on persons and business agents not to intentionally or negligently injure others in society”(Cheeseman, 2010). Developing a clear plan that reduces and eliminates any fines, penalties and tort liabilities will help the success of a business. Cheeseman (2010) states “Tort law imposes a duty on persons and business agents not to intentionally or negligently injure others in society” (Cheeseman. 2010). Plan elements Knowing the four elements of defending against negligence is fundamental to developing a preventative plan against negative effects of a tort. With foresight, a business can plan against the occurrence by superseding or intervening the event. Having knowledgeable team members who can determine whether or not the company is actually responsible for an event is essential. Assuming the risk of potential negligence can help to diminish the possibility of tort. Keeping a business team aware of what risks are possible and can help to avoid situations where a company knowingly enters into risky practices will keep businesses safe from liability. Finally, both contributory and comparative negligence are important to understand and incorporate into the plan. First, contributory negligence means when a business suffers damages through doing something illegal, the company cannot recover any compensation from the party who damaged it initially. And, finally...
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...AUTOMAKERS BECOME SOFTWARE COMPANIES? Case Study 2 Abstract Automakers’ diving in head first in merging cutting edge technology with automobiles has caused some growing pains. The issues with providing a constant source of Wi-Fi capabilities, privacy concerns, distributing necessary software upgrades, and protecting the customers identity have been issues auto makers have faced since this endeavor started to enter the cars we buy. So companies like Ford, GM and BMW have been on the razor edge of break through innovation to draw the curious techy generation to friendlier interface systems, with high-tech navigation, Pandora music, Wi-Fi capabilities, and applications that car buyers and use to continue their social networking, technological dependent lives on the road. Together these advances suggest that auto makers are on the verge of entering an another industry to supplement their industry. Identifying the major issues and their outcomes Identifying the major issues in automakers exploring inclusion into technology within their cars is numerous, although the upside is great and there is evidence to support it. Of the many issues that automakers face, one of the more prominent is the lack of a central system to feed into to, or off of. This system does not exist yet to where these systems can receive traffic information, schedule reservations, or even connect...
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...means of concept formation and communication What areas do you see the importance to correctly communicate for avoiding any ramifications? Legal – vendor and employee contracts, product warranties, application forms for services, correct product or equipment use, patent infringement, export and import documentation, Safety – for employees and customers, or OSHA, FDA, EC requirements What other areas would benefit if you could communicate clearly and effectively? Marketing – increased sales, company awareness, competitive advantage Production – employee loyalty, accurate deliverables, faster time to market World is getting smaller and endless ways to connect, but communication not. Shipping speeds, internet, smart phone, technology enables faster easier ways to get your message out, but the purpose of translation is making sure they understand that message. It takes a doctor to prescribe a medicine, it takes a lawyer to interpret the law, and it takes a driver to driver a vehicle…. Therefore, it takes translator who can convey the real meaning of your text, only a Christian translator can discern the depths of your writings. This is what I have so far, will add some more as I think of them… • Partners not vendors • Quality • The difference between Translation and Localization • Explain Machine Translation • Transfer of Liability • Your information is safe – Security • List all internal departments we work with • Consistent brand and HR...
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...elementary toy collection is elementary schools. The metal whistles in question did not pass testing due to the small traces of lead. The amount of lead included in the whistles was slightly above the U.S. legally acceptable limits for children ages 7 and younger. The approximate cost to reproduce the product and repackage the toy collections is $100,000. There are a few more questions to pose and/or further data to collect in determining the best alternatives to pose. Are the standards for lead content changed if the market is adjusted for adults? We will assume that since we are a toy manufacturer that that loophole is not even a consideration for us regardless of the possible change in requirement. Another question would be; do we have a market in areas that do not require lead testing? For decision alternative presentation we will move forward in assuming that the answer to that question is yes. Decision Option 1: Go ahead and ship! As a company we must keep our profit margin in mind at all times. If we do not ship the product out on time as scheduled we run the risk of losing the customer. Not to mention the loss of money from product loss and man hours wasted if the product is scrapped and not shipped out. The shipment is going to South America and not the U.S. so we can “overlook” the test results since the...
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...marketing. These forces fall within the macro environment of PESTL frame. As the name indicates, macro environmental factors are the forces prevailing in the external environment of the organisation. Macro environmental variables include political, economical, socio-cultural, technological, and legal forces, having bearing on the industry and business players (Popkin, B.M Duffey, K & Gordon Larsen, P 2005) Business firms and industries have no control over such factors and thus are bound to adapt and act in accordance with macro environmental forces in order to exist and sustain in the marketplace. Thus, these variables would be considered as a ramification to such a supplementary industry, which in this case is “GNC”. POLITICAL: Political factors are one of the major macro environmental force affecting multi vitamin industries and related business firms. It takes into account legislations, market regulations, government stability and trade agreements (Mashhadi, AM & Ijaz-Ur-Rehman, Q 2012). Australian government has formulated quite strict and confined set of regulations for companies engaged in preparing and offering vitamins, minerals, nutritional, herbs, diet, energy, and other health products to the domestic and international customers (Euromonitor International 2013). Various set of voluntary codes and ethical practices are also devised by the political officials of the country at regular intervals collaborating with trade agreements and trading...
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...world the law often times has precedence on how some companies operate. For example, if a company produces paint by law it cannot dump toxic chemicals into the environment without suffering stiff federal penalties. As a business owner typically there is a vast knowledge of whatever the business specializes in, therefore there can often be oversights regarding legal issues. Laws in the business world prevent companies from doing unlawful or unethical things like making employees work long hours for an unfair wage, or product duplication. Employment and labor laws ensure that business owners not only treat employees fairly, but also compensate them at a fair wage. Product duplication or when company “a” produces and distributes an exact likeness of a product that company “b” has already produced without first receiving permission is prevented by trademark and patent laws. Knowledge of the Law As previously stated business owners are not always the most informed when it comes to the legal aspects of business, despite the many advantages that come from an understanding of the law. Melvin (2011) stated “having legal awareness may...
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...Riordan Manufacturing, Inc. (Riordan) is an innovative and evolving company that seeks to continue its impressive growth sense the inception of the company. As Riordan continues to grow and adapt to an ever changing economic environment, it must be careful not to be a victim of its own success. Having established plants in various states, and even one in China, Riordan must be aware of the legal ramifications of its decisions. Neglecting to understand the legal process of its actions has the potential to hurt Riordan’s employees, stockholders, and the company itself. Riordan has the opportunity to use existing legal business contexts to help mold and shape its decisions in a way that are beneficial to everyone. The various complexities of business laws have a potentially daunting and detrimental prospect for many companies, but Riordan must not see things this way. We will use Riordan’s reputation and strength to enhance its decision making processes to make the company stronger, while keeping within the legal boundaries of national and international business law. Of the many subjects Riordan will concentrate on, to ensure future economic growth it must first begin with Alternative Dispute Resolutions to potential problem that may arise with the various entities Riordan does business with. Disputes inevitably arise in business relationships. Riordan’s challenge will be handling in an effective and time efficient manner. Alternative Dispute Resolution Alternative dispute resolution...
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...------------------------------------------------- Group: ……. Date of Submission: …………… Table of Contents LO1 A valid contract in a Business Context 3 1.1 The importance of the essential elements required for the formation of a valid contract 3 1.2 Impact of different types of contract 4 1.3 Analyse terms in contracts 5 LO2 Elements of a contract in Business situations 5 2.1 Elements of contract in given business scenarios 5 2.2 Law on terms in different contracts 6 2.3 Effect of different terms in given contracts 6 LO3 Negligence in Business Activities 7 3.1 Contrast liability in tort with contractual liability 7 3.2 Nature of liability in negligence 8 3.3 How a business can be vicariously liable 9 LO4 Principles of liability in negligence in Business Situations 10 4.1 The elements of the tort of negligence and defence in different business situations 10 4.2 The elements of vicarious liability in given business situation 11 References and Bibliography 13 LO1 A valid contract in a Business Context 1.1 The importance of the essential elements required for the formation of a valid contract Everything requires some principles that should be followed to make it a good one. Therefore to make a valid contract there are also some principles to be followed during making it a good one. The basic principles that should be followed by Linda green to make a contract agreement with a potential customer are as follow- Offer and acceptance There must be a lawful offer...
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...In the recent years the popularity of social media has soared, while these technologies present great opportunities for employees, they also have the potential of legal pitfalls. With all the various advances in technology it is making it easier for people to transport and afford computers and tablets, coupled with the propagation of social media it is rapidly changing the way people communicate. People are afforded the opportunity and means to communicate with their family, friends and even strangers, which until recently were not available. New social media predominantly Facebook, Twitter and LinkedIn have revolutionized not only the way people communicate but also how business is conducted. Employers are now using social media as a way of recruiting and marketing. Due to the large number of users to these social networking sites, it makes it easier and more attractive for recruiters to find a possible source of hire. According to Mello (2012), as of December 2011 Facebook had over 80 million users where half of whom logged on to the site daily and the other half logged on using their mobile device. In the United States alone, there are over 20 million users to Facebook which is two thirds of the user population (New York Times, 2012). According to Social Network and Employment Law (2012), the volume of communication continues to expand for Twitter with over 30 million participants to their site; the article goes on to state that LinkedIn has over 30 million...
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...Briefly consider a recent Australian example of a significant business management failure. 2 Why is knowledge of historical developments important? • Understanding historical developments helps us to: • Apply lessons from the past: are there commonalities between past and the present? • Understand the importance of path dependency, i.e. that some past decisions have had long term ramifications (e.g. convict settlement of Australia), and so current period decisions may also affect future generations (e.g. CO2 emissions). • Appreciate the inevitability of continual economic and social evolution, but understanding that we have some influence on how and when such changes should occur. • So a sound understanding of history brings empowerment to 3 the debate about current business practices. 1 Important historical developments • Pre about 1850, in industrialising UK, the typical business firm was: • Small scale, mostly catering to local demand. • Concerned with a single function or product, e.g. blacksmith, baker, butcher. • Established at a single geographic site only. • Of uncertain legal status, e.g. it was unclear whether a business could be prosecuted/sued, rather than the owners. • Owner(s) managed, perhaps part family run. Hence no real bureaucracy. • There were a few exceptions. 4 Exceptions… • A few government...
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...Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Daniel A. Sievers Professor: Joe McGirt Strayer University LEG 500 12/01/2014 Research three to five issues relating to marketing and advertising, intellectual property, and regulation of product safety and examine whether PharmaCARE violated any of the issues in question. There are many issue’s relating to advertising, intellectual property and regulation in today's workplaces. All phases of marketing and advertising mix are subject to laws and limitations. Every marketing supervisor will be faced with how they must discuss ethics and law when marketing their products. Any marketing manager understands that there are cut and dry solutions to ethical issues that will occur during the normal course of business (Pharmaceuticals, n.d.). The Bureau of Consumer Protection’s places everything in perspective that all communication in the United States must be truthful. The Federal Trade Commission Act (FTC) looks for dishonesty and deception towards customers that try to change their decision to purchase medications. FTC monitors truth-in-advertising laws especially with kids, but there have been a lot of immoral practices in advertisements over time. The most moral decision is not to promote to children but in this case to the parent. Children's ad urges children to get dependent on products that induce on social development (Media, 2004). Cigarette advertising is matched to marketing consumers...
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... For the first time, Excello was on track to finish out the year below anticipated financial goals, which would resonate throughout the company and its’ stock. This presented Excello with the task of searching for solutions while maintaining ethical and legal choices to the betterment of all parties involved. While searching through problem solving solutions, Reed learned of a pending sale on December 20, 2010 to Data Equipment Suppliers in the amount of $1.2M. The entering of this sale into Excello’s accounting system would cover the companies’ shortfall for the year thereby insuring satisfactory financial performance for 2010. However, the client has requested that due to a lack of storage space for the equipment at the present time, Excello hold the order under January 11, 2011. This information sent Reed to Marty Fuller, the Controller, to seek out the best way to record the sale in 2010 to enhance the years-end reports. While discussing the situation with Fuller, Reed emphasized that the transaction must be recorded in 2010 and that whatever accounting is done be defensible using the Generally Accepted Accounting Principles (GAAP). This is essential in maintaining compliance with both state and federal legal requirements for financial reporting. GAAP reporting is mandated for use on a federal level for all financial reports. These principles are typically issued by the Federal Accounting Standards Board (FASB) but are regulated and enforced by the Securities...
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...Environmental Regulation Sarah White Colorado Technical University MGM366-1301B-02 Professor: Alan R. Witty March 18, 2013 Environmental Regulation International business expansion plans are vital for an organization looking at expanding into another country. With the economy today and the rise and fall of the almighty dollar, it has generated more international customers. Large and small businesses have several ways in which they can profit with international business ventures, and the opportunities are endless. It is always recommended that one registers a company’s trademarks within the foreign markets establishing solid business relationships at different trade shows are vital. Finding possibly an international business partner, who may be looking at entering your organizations market, can prove to be beneficial as well. The internet is a great source in which to expand globally. The first important step is to look for your organizations import and export opportunities. Being able to market in countries which have more strength against the American dollar will enable more export chances and the individuals which live in those countries can buy more. In this paper, I will be discussing Mexico as the country in which to expand into. When deciding to expand into any country, it is always a good idea to locate and hire a good well known corporate Business Attorney, CPA, Accountant and a Consultant, within that country to help guide your organization in the right direction...
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...Smithon stock: a. Should Mr. Jones purchase the stock of Smith outright, leaving Smithon intact? What about issuing debt in his Johnson Services company to pay for the Smith Company – would that raise debt to equity issues? NO, Mr. Jones should not buy the stock. A stock purchased would result in Mr. Jones acquiring the assets, liabilities and also would inherit the contractual obligations of the selling corporation. I would not advice Mr. Jones to buy the stock because he will be liable for any current and future tax obligations that the selling corporations had before sale. The tax basis of the selling corporation will not change and the tax aspects will also remain the same. The methodology and tax year will not change which means that Mr. Jones cannot change the financial period to end in December 31. Failure to change the legal entity is not advantageous to the buyer because he is limited to adhering to the current tax basis on Smithon’s assets even if he had paid more for the assets. Issuing debt in Johnson Service Company to pay for the Smithon Company would raise debt equity ratio issues. Issuing debt would increase the amount of liabilities owned by the organization to compound the fact that it is already operating at a loss. Issuing debt would result in ratio that is over or close to unity indicating that the company’s assets are being financed by debt. High debt equity ratio indicates that the organization is risky and is financially weak; hard to get financing. ...
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...ECO 4751 Spring 2013 D. Butterfield Assignment 3 Stella Liebeck v. McDonalds Corporation Facts of the Case Stella Liebeck of Albuquerque, New Mexico, was in the passenger seat of her grandson's car when she was severely burned by McDonalds' coffee in February 1992. Liebeck, 79 at the time, ordered coffee that was served in a styrofoam cup at the drivethrough window of a local McDonalds. After receiving the order, the grandson pulled his car forward and stopped momentarily so that Liebeck could add cream and sugar to her coffee. Liebeck placed the cup between her knees and attempted to remove the plastic lid from the cup. As she removed the lid, the entire contents of the cup spilled into her lap. The sweatpants Liebeck was wearing absorbed the coffee and held it next to her skin. A vascular surgeon determined that Liebeck suffered full thickness burns (or third-degree burns) over 6 percent of her body, including her inner thighs, perineum, buttocks, and genital and groin areas. She was hospitalized for eight days, during which time she underwent skin grafting. Liebeck, who also underwent debridement treatments [removal of dead skin], sought...
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