BUS 393 Study Guide - Summer 2018, Comprehensive Midterm Notes - White Dog, Vehicle Insurance, Vancouver
12 Oct 2018
School
Department
Course
Professor
BUS 393
MIDTERM EXAM
STUDY GUIDE
Fall 2018
BUS 393 – Lecture # 1
Business and the Law
Lecture Objectives
• cover selected topics from assigned text readings and
the casebook (only selected topics NOT all topics)
• focus on the important concepts not on the details or
all the specifics of a case (lots of details in the text we
do NOT cover)
• apply these concepts to business problems (through
examples and cases in the Casebook)
• always keeping in mind the importance of Strategy
and how you can use the Rules and Process of the legal
system to resolve a problem
•the focus is on problem resolution
• participation and engagement important and
expected
•ask questions since there is truly NEVER a stupid question
about business law
Resources
Why Study Bus Law?: #1
• Law impacts our lives everyday (There’s a Law for
That!)
• How? your life at school, bus or drive to SFU, jobs,
disagreements with people, car accidents, renting
apartments or buying a house, getting loans, social
media, privacy on the internet, buying things in
person or online
• What is your experience with the legal system?
Disputes, accidents, going to court, disagreement
with a boss or supervisor?
Why Study Bus Law?: #2
• Law is particularly important for businesspeople:
•law and rules impact every aspect of doing business including employees, contracts,
liability for your products and services, protecting ideas, protecting your reputation
online and elsewhere, selecting a business type or model, raising funds for business,
avoiding court, going to court, negotiation and other forms of dispute resolution
•the costs of making mistakes about the law can be very high
Why Study Bus Law?: #3
• Law is becoming more complicated in a global economy:
• there are more rules to deal with, including national differences
• How are rules different around the world and why?
Why Study Bus Law?: #4 & 5
• #4: Career opportunities in law and business: lawyer, companies and boards,
entrepreneurs, politics
• #5: And because this is a mandatory course and you have to! (Also known as Life
Sucks!)
find more resources at oneclass.com
find more resources at oneclass.com
Impressions of How Law Works or Doesn’t
• Complex? Why?
• Unpredictable? Why?
• Unfair and the most powerful and wealthy with best lawyer always win? Is this true?
• Expensive?
• You can always get around the law?
• Business people don’t need to know anything about the law since they can just call a
lawyer OR even better, go online and find the answer
Case: Opioid Crisis
•What is this case about?
•Why is this case about law and not just drugs and addiction?
•What is the message for business people?
•What does this case illustrate about how law and rules are made and the purpose of
rules? Balancing act?
•What difficult legal and business issues does this case raise?
Opioid Crisis in Vancouver
• Should we give a company an exclusive right to produce and sell a drug like
painkillers? For how long? Why? Should they be able to charge any price? Why? What
about generics? Does it matter if it is a US or foreign company?
• What should happen when a company creates a product such as a drug/pharmaceutical
that harms users (is this like tobacco and smoking, sugar, pollution, and more recently
medical marijuana?)
• Should consumers be warned of the dangers? How? Is warning enough? What if
warnings are inaccurate or lies? What if product addictive?
• Who should be held responsible for failing to protect consumers
(manufacturer of drug, doctors, governments, users, local drug dealers, international drug
gangs?)
• What should the penalties be? And why? What is the purpose of rules and punishment
or fines? What if someone dies?
Understand the Reason
Behind the Rule
• law is about trying to come up with a good way to solve a problem
• sometimes rules have unintended consequences, or cannot be enforced, or are too easy
to avoid, or are perceived as being unfair
• but there is a rule for almost anything and there is a rationale behind the rule
• and this applies to all aspects of business law
You Be the Judge Judy?
• You work for a small tech company designing websites and all your colleagues have
been promoted and given a salary increase. You are the only woman at the company. You
raise the issue with your boss and several weeks later you are
fired.
• Rules and why?
• Process? What more do you want or need to know? Evidence? Who can sue who? What
will they argue? What will the judge consider? Who will
win? Who should win? Why?
• Strategy? How do you create a strategy with
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
: #1: law impacts our lives everyday (there"s a law for. : #4 & 5: #4: career opportunities in law and business: lawyer, companies and boards, entrepreneurs, politics, #5: and because this is a mandatory course and you have to! (also known as life. Is this true: expensive, you can always get around the law, business people don"t need to know anything about the law since they can just call a lawyer or even better, go online and find the answer. You be the judge judy: you work for a small tech company designing websites and all your colleagues have been promoted and given a salary increase. You are the only woman at the company. You be the judge: my samsung galaxy 7 smartphone caught on fire while my dog was chewing on it and now my phone is destroyed and my white dog.
