Legal/Ethical Issues in Business: Week 2
Legal/Ethical Issues in Business: Week 2 BUS 205
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This 4 page Class Notes was uploaded by Brittany Smith on Saturday September 3, 2016. The Class Notes belongs to BUS 205 at Colorado State University taught by Stephanie Hewitt Bowen in Fall 2016. Since its upload, it has received 51 views. For similar materials see Legal/Ethical Issues Business in Business at Colorado State University.
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Date Created: 09/03/16
Legal and Ethical Issues in Business Chapter 2 Ethics Definition: the study of how people should act legal Examples o Environmental issues o Women issues o Safe business/worker safety issues It pays to be ethical o There is very little research to prove this though o It’s hard to assess ethics Advantages to being ethical o Better/loyal employees o Better reputation o Word spreads o Market strategy o Support Business Decisions: Ethical or Not? Price Fixing o NOT legal o Controls the market o The maintaining of prices at a certain level by agreement between competing sellers Social Responsibility o To both owner/seller and consumer Necessity vs. Luxury 1. Is it legal? 2. Is it profitable? 3. Is it ethical? Example o Starting a drug business Legal Profit Ethical Heroin No Yes Maybe Meth No Yes Maybe Prescription Meds No Yes Maybe – who’s to say? Marijuana Maybe – Depending Yes Yes – medically No – on state other Selling on street or store? Regulations? Alcohol Yes Yes Yes – less crime No – social responsibility Legality does not always line up with ethics o Just because it’s legal, doesn’t mean its ethical o Just because it’s ethical, doesn’t mean it’s unethical o Ethics depends on you and how you feel Marbury v Madison: Establish Judicial Review Legislative Branch o Makes laws o Power given by Constitution Executive Branch o Enforces laws o Power given by Constitution Judicial Branch o Interpret laws o Power given by case laws “It is emphatically the province and duty of the Judicial Department to say what the law is… If two laws conflict with each other, the courts must decide on the operation of each.” Jurisdiction – Generally Does the court have the power to hear a specific type of case? Subject Matter Jurisdiction o Limited v. General Jurisdiction (covered in Week 1 notes) o Original v. Appellate Personal Jurisdiction o Does the court have the right to hear case personally? Usually determined by location o Longarm statute – minimum contacts Do you have enough minimum contacts to file case in certain location? In Rem Jurisdiction o Literally means “Jurisdiction over the Thing” o Property Real Property Land o Houses o Anything fixed to the land Jurisdiction in the Federal Court How to determine whether to file on the state or federal level Only two ways to federal court: State Law Claims o Diversity of Citizenship Any controversy between Citizens of different state (or foreign country) AND Amount in controversy is over $75,000 Federal Question o Any case based, at least in part, on the U.S. constitution, a federal law, or federal treaty Can file civil case or criminal case in federal court Jurisdictional Terms Venue o “location” o appropriate location o Why change venue? Press/media Personal/conflict of interest Standing o The capacity of a party to bring a suit to court o Have to have “suffered harm” o Harm has to be real o For example BP Oil Spill Who has standing? o Families o Landowners o EPA o Fishermen Who doesn’t? o Restaurants o Tourists o Cities o Other States Roles of Attorney Advisor o Biggest role – Preventative law o Is what I’m going to do legal? Drafter (tools) o Draft leases, contracts, notes, etc. Negotiator o Get best results for client Advocate o Representative of client o Advocating your position The client controls the relationship between attorney The attorney controls the means and helps with goal Attorney/Client Privilege Protected communication between attorney and client o What’s said in the room stays in the room o Unless attorney is threatened o Court could order attorney to tell o Extreme situations otherwise Attorney gets information in order to help client o Advocate Relationship developed Privilege belongs to client o Only client can waive disclosure Once waived, it’s gone Exceptions o Threatened o Client plans on making illegal act soon Robbery Murder Etc.
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