Management and Organizational Studies 2275A/B Lecture Notes - Lecture 7: Corporate Law, Business Ethics, Personal Information Protection And Electronic Documents Act

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

Understand the role of law in guiding business. Understand the importance of legal knowledge in the business environment. Understand the challenges posed by business ethics and their relationship to legal requirements. Law impacts every aspect of society, including the business environment. Knowledge of the law helps entrepreneurs maximize protection and avoid pitfalls. A set of established rules governing commercial relationships, including the enforcement of rights. Law is a set of rules that you get from everywhere. Provides mechanisms that permit businesspeople to manage their participation in business activities and exposure to risk in business ventures. Provides mechanisms to ensure losses are borne by those who are responsible for them. The law facilitates certainty by providing rules, particularly in the area of contracts, that allow business enterprises to plan for the future and to enforce their expectations. In short, legal rules provide definition and context to doing business.