Management and Organizational Studies 2275A/B Lecture Notes - Lecture 6: Section 33 Of The Canadian Charter Of Rights And Freedoms, Arbitration Clause, Neutral Party

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

Document Summary

Chapter 1 knowledge of law as a business asset. Things to consider when starting business: ownership (sole proprietorship, partnership, corporation) Goal of the law in business: to maximize the protection that the law extends while avoiding its pitfalls. Protects business ideas ad more tangible forms of property. Provides mechanisms that permit business people to select their desired degree of participation and exposure to risk in ventures. Seeks to ensure that losses are borne by those who are responsible for them. Law: a set of principles intended to guide conduct in society. Personal information protection and electronic documents act customer"s personal information needs to be adequately protected. The law protects society by: rules with penalties in order to encourage compliance, holds those who break the law accountable for their misconduct. Breach of contract eg. if supplier fails to deliver a product, company can sue for damages.