Keller 1st exam study guide

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Western University
Management and Organizational Studies
Management and Organizational Studies 2275A/B
Cristin Keller

Chapter 1 Managing Your Legal Affairs 3 people in relationship rd Lawyer client and 3 party o Known as agency relationshipLawyer is agentMust act in best interest of client and only follow their instructionsClient is principle Becoming sophisticated clientsConfidentNot in awe of lawyers KnowledgeableIdentify not necessarily solve legal issuesUptodateInternetUnderstands the respective roles of the lawyer and the client client must call the shotsKnows when to represent themselves Dont represent yourself when youre starting a business when its a criminal matterKnows how to locate and hire a suitable lawyerUnderstands the various costs to be paid to a lawyerKnows how to deal with dissatisfaction with a lawyer Empowerment1 Becoming a sophisticated business person is empowering 2 Business decisions have serious consequencesUnderstand the importance of the situationConsider appropriate lawsImportance of evidence means it is important to keep records The Role of the Lawyer lawyeragent rdAgentsomeone who acts on behalf of a principle client and deals with 3 parties on their behalf 1 Provides relevant legal adviceAdvises and recommends 2 Client is the decision makerNot the lawyer 3 Lawyer bound to follow clients instructions must follow instructions of client unless it is illegal or unethical 4 SolicitorClient Privilegethe principle that the agent must keep the clients info confidentialLawyer cant give out confidential info 3 Encourages franknessFull story necessary to get the best result 4 Legally enforceableWas the only privileged communication that is legally enforceableReporters now have limited privilege of sources but can at times be jailed for contempt like clergy and others When to Hire a Lawyer when risks are high1 New business buying existing business a Searches b Agreements 2 Compliance issues a Ignorance of the law is no excuse 3 Physical location a Long term lease terms b Purchase land and building 4 Financing of businessShareholder loan capital Bank debt and security 5 ContractsEmployment Supply 6 Intellectual property Patents copyrights etcPatent agent 5 Criminal charge against business or officers 6 Also on sale of businessWhen to Represent YourselfObtaining legal information not adviceOnline sourcesUnderstanding the informationType of issue at stakeCriminal charges almost necessitate a lawyerNoncomplex Small Claims Court action If litigation involves any amount of money greater than the monetary jurisdiction of the small claims court then you need a lawyer a the trial will take place in a superior courtHow to Find the Right LawyerReferralsProvincial Law Societyselfgoverning body of lawyers who regulate the legal profession in the publics interest
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