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[Management and Organizational Studies 2275A/B] - Midterm Exam Guide - Everything you need to know! (48 pages long)


Department
Management and Organizational Studies
Course Code
MOS 2275A/B
Professor
Cristin Keller
Study Guide
Midterm

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Western
Management and Organizational Studies
2275A/B
MIDTERM EXAM
STUDY GUIDE

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MOS Chapter 1
This chapter focuses on knowledge of law as a business asset.
Law impacts every aspect of society including the business environment
o Helps entrepreneurs maximize protection and avoid pitfalls
o The law affects most business decisions
Business law: a set of established rules governing commercial relationships,
including the enforcement of rights. In other words, business law is a set of rules
that can be enforced
o Defines general rules of commerce
o Protects property and ideas
o Statutes things that people we elect draft (written docs that people that
we elect draft and pass through their procedure for making law)
Considered a democratic process
o Common law or judge law (case goes before trial, and judge’s decision
forms part of the law)
Appointed people, whose decisions become part of law
How Is Law Useful in the Business Environment?
o The law facilitates certainty by providing rules, particularly in the area of
contracts
o Allows people to plan, look at risk, ensure losses are borne by those who
are responsible for them
o Every decision you make in business, you need to know the legal
ramifications
The most familiar purpose of the law is to provide protection. The law protects
members of society in two ways:
o It sets rules with penalties in order to encourage compliance
o It seeks to make those who break the law accountable for their
misconduct.
Criminal Code of Canada statute = people e’e eleted hae put together ad
drafted a la that tells us hat e a ad a’t do ad hat is a riinal
violation)
o Example: reakig ito aother perso’s house, assaultig soeoe, or
committing a commercial fraud are subject to criminal sanctions such as
fines or imprisonment.
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How does business law protect intangible property such as ideas and inventions?
o Patent protection: is a means for an inventor to claim ownership of an
invention. The patent-application process necessarily involves putting the
idea for the invention in writing. Thus, a concept that exists in mind only is
not protectable under the Patent Act.
o Copyright protection: protects the expression, in a fixed form, of a
business idea and not the idea itself. If you want protection, you must fix it
in a tangible form. Even then, it is only the expression of the idea that is
protected. (example: a computer game cannot be a copyright but instead
only the computer codes, layout, and sound can be copy righted)
o Trademark Protection: There are two basic types of trademarks: a word
mark and a design mark. Both variants are used to distinguish the goods
and services you provide, or will provide, from those of your competitors.
In class Example: This chapter includes the story of San Francisco Gifts placing
fake UL Uderwriters Laoratories labels on table lamps being sold in its
retail outlets. The lamps had not been UL inspected and, in fact, were a potential
fire hazard. The video discusses the fire hazard created by another San Francisco
Gifts product specifically a dolphin lamp which also bore a fake UL label. In
this latter case, the product in question began to catch on fire but the family was
home and the appliance was quickly unplugged, thereby averting a potential
tragedy.
Canada has two federal privacy laws, the Privacy Act, which covers the personal
information-handling practices of federal government departments and agencies,
and the Personal Information Protection and Electronic Documents Act
(PIPEDA), the federal private-sector privacy law.
PIPEDA: Business are required to adequately protect their ustoers’ persoal
information or be subject to fines of up to $100,000.
o Statute (has the word act, written in italics that is going to protect
personal info and if someone violates can be subjected to a fine)
What is the role of government to ensure the humane and ethical treatment of
animals by businesses?
o Because animals are not always treated humanely by business (and
others), government began to legislate in order to compel the necessary
conduct.
Business law facilitates interaction
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