Can someone please help me answer these questions? I need to present them by 6/2/09. I will appreciate your help.
1.What is one way the U.S. legal system impacts U.S. businesses? How do specific aspects of the U.S. legal system contribute to furthering commerce? What would happen if that characteristic were not present in the legal system?
2.What are the risks that businesses and other organizations encounter when dealing with traditional litigation, and what measures can business managers take to reduce exposure to those risks?
We'll be glad to HELP you answer these questions.
Please post your answers based upon your text materials. Then, we'll critique your answers, and help you from there.
1. What is one way the U.S. legal system affects U.S. businesses?
There are several ways the legal system can affect businesses but the one way the U.S. legal system affect U. S. businesses are the antitrust law which changed the way businesses operate. This law controlled some a banned others in the way businesses compete/operate. This law would hinder business from competing in the way they desire to. This law was passed to enable every organization the same opportunity to gain access to the free enterprise system (Jennings, 2006).
2. How do specific aspects of the U.S. legal system contribute to furthering commerce?
The commerce is furthered by the international business and the creative business deals are accomplished to increase profits around the legal system.
3. What would happen if that characteristic were not present?
The area of tax law would be much less influential if the characteristics were not present.
Reference:
Jennings, M. (2006). Business: Its Legal, Ethical, and Global
Environment. Retrieved on December 15, 2009 from
Course Materials.
2. Reflect on characteristics of the traditional litigation system, such as suit, discovery, trial, or jury. What is the risks organizations encounter when dealing with traditional litigation? What measures might managers take to reduce exposure to those risks?
Reflect on characteristics of the traditional litigation system, such as suit, discovery, trial, or jury. What is the risks organizations encounter when dealing with traditional litigation? What measures might managers take to reduce exposure to those risks?
Of course, I can help you answer these questions. Let's start with the first one:
1. One way the U.S. legal system impacts U.S. businesses is through its enforcement of contracts and protection of intellectual property rights. These aspects contribute to furthering commerce by providing a stable and predictable legal framework, which helps businesses feel secure in conducting transactions.
To answer this question, you can start by explaining the concept of contract enforcement and how it ensures that agreements between businesses are honored. Additionally, you can mention that the legal system's protection of intellectual property rights encourages innovation and investment by granting exclusive rights to creators and inventors.
If the characteristic of contract enforcement and intellectual property protection were not present in the legal system, businesses would face increased uncertainty and risk. It would be more challenging to trust that agreements would be honored, leading to a decrease in business transactions. Innovation and investment would also be discouraged, as inventors and creators would struggle to protect their ideas and creations.
Moving on to the second question:
2. The risks that businesses and organizations encounter when dealing with traditional litigation include high costs, extensive time commitments, potential damage to reputation, and uncertainty in the outcome of legal proceedings. To reduce exposure to these risks, business managers can take several measures:
a) Implementing alternative dispute resolution methods: Businesses can opt for techniques like arbitration or mediation to resolve disputes outside of court. These methods are generally faster, more cost-effective, and provide more control over the outcome.
b) Careful contract drafting: Businesses should focus on creating clear and specific contracts that outline dispute resolution procedures, including arbitration or mediation clauses. This reduces the likelihood of misunderstandings and helps mitigate potential legal disputes.
c) Maintaining proper record-keeping: Businesses should maintain accurate and thorough records of all business transactions, agreements, and communications. Having strong documentation can help in legal proceedings by providing evidence to support claims.
d) Engaging in risk management practices: Business managers can take proactive steps to identify potential legal risks and develop strategies to minimize or prevent them. This includes regularly reviewing and updating policies and procedures to ensure compliance with laws and regulations.
e) Seeking legal advice: When faced with legal issues or potential disputes, businesses should seek guidance from experienced legal professionals. Lawyers can provide guidance, assess risks, and offer strategies to minimize exposure during legal proceedings.
By implementing these measures, businesses can proactively reduce the risks associated with traditional litigation and protect their interests.
Remember, when presenting the answers, try to provide explanations and examples to support your arguments.