Running head: Business law – why one should study it?

Business law – why one should study it?

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Business law – why one should study it?

Business law – why one should study it?

Business law abridges the whole operation and functioning of businesses. The law

specifically governs how businesses can be managed, bought or sold. The law pertains to state

and federal laws and it also abides by the administrative regulations.

Business law mends individual to understand the basic legal processes to the business

operations. Knowledge of business law protects business personnel to aware of illegal business

activities. It will help to construct credibility among investors, suppliers, and customers that you

are advocating sound business practices.

Difference between business law and business ethics

The law encompasses the whole society irrespective of individual business operations

and needs while ethics is personified dimension of an organization which deals with the moral

conduct of an organization. Individuals would be punished for the violation of law while ethics

doesn’t have a tighter framework of punishment. The law can be published and expressed in

writing while ethics are expressed as abstract. Laws are created to protect the right of the citizens

and maintain social harmony in the society while ethics are set on the notion of right and wrong

(Swanson & Frederick, 2016).

List of topics covered in business law

The course consists of some of the most interesting topics, such as:

 Business organization

In this curriculum, students are taught to various types of business organization, their

structural framework, and functions legally.

 Ethics
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Business law – why one should study it?

The implication of ethical concerns in a business operation is taught to the learners. Learners

are aware of various type of code of ethics in business organizations.

 Tax Law

Tax law is a broad concept that deals with tax frauds in criminal perspective and other tax

laws which govern the business partnerships (Dugan et. al., 2018).

 Contract Law

The contract laws made students learn various aspects of contract law that govern breaking,

creating and upholding of contracts.

Emerging trends in business law

Merger activity in 2019 is expected to be strong like the past two years. Deal activity is

also anticipated to stay high as it maintains the pace with the ever-increasing economy of the US.

Secondly, research in business law which usually takes a lot of time can be accomplished in very

little time with the help of artificial intelligence. Stronger cybersecurity measures are to be

adopted since security breaches in law firms have only increased. The steady growth in the US

business law is expected to keep the income stable, though inordinately. Client-oriented service

models are pushed chiefly by modern technological trends that enable better customization (Rosa

et. al., 2016).

Key takeaways from the business law class

One of the prime benefits of attending the business law class is that it helps the

candidates to know the various laws, regulations, and standards of the field. Court cases on the

date are a lot common for the various businesses as their competitors continue to sue the leaders

on various aspects. A firm grip over the subject enables business law experts to efficiently handle

all such cases and confirm the smooth running of the business processes. Attending the business
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Business law – why one should study it?

law class helps to build up the confidence in the various aspects that regulates the business

organizations on the date (Sulkowski et. al., 2016).

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Business law – why one should study it?

Reference

Dugan, J., Aprill, E. P., Hammer, V., & Yin, G. K. (2018). May 2018 ABA Tax Section

Meeting-Tax Policy and Simplification Committee: The Byrd Rule and the Tax

Legislative Process (Presentation Slides). Loyola Law School, Los Angeles Legal Studies

Research Paper, (2018-19).

Oliveira da Rosa, W. L., Simone Oliveira, G. D., Rosa, C. H., da Silva, A. F., Lund, R. G., &

Piva, E. (2016). Current trends and future perspectives in the development of denture

adhesives: An overview based on technological monitoring process and systematic

review. J Biomed Sci, 4, 1-4.

Sulkowski, A. J., Bagley, C. E., Nelson, J. S., Scott, I., Shrivastava, P., & Waddock, S. (2016).

Law, Management, and Strategy: Collapsing Boundaries and Managing the Interstices.

Swanson, D. L., & Frederick, W. C. (2016). Denial and leadership in business ethics education.

Business ethics: New challenges for business schools and corporate leaders, 222-240.