This website uses cookies to ensure you have the best experience. Learn more

Legal Issues Paper

3134 words - 13 pages

In today's business world, there are a number of ways in which to legally organize and structure a business. Carefully choosing and creating the correct legal entity will ultimately have a huge impact on the success and profitability of the business venture. Some common legal issues for a business include; agency law, business entities, e-commerce, and the legal impacts of businesses ran electronically. This paper will discuss these points and explain how each of these points may or may not impact a business. Keep in mind as the situations could alternatively be different depending on the company and the stipulations. Join us in our journey of discovery and learn with us!Agency LawAgency Law can be defined as common law or case law based on accumulated judgments from court cases. As there are liabilities for agent to principal, there are also liabilities for principal to agent. In agency law there are several duties that an agent owes the principal. The liabilities of that principal to agent are; the duty of compensation, the duty to reimburse and indemnify, and the duty of keeping accounts (Barnes, 2003, pg. 325).Agent to Principal DutiesThe duty of loyalty requires the agent to be completely honest in all dealings with the principal, avoiding conflict and full disclosure (Barnes, 2003, pg. 318). An agent should receive compensation from the principal but this is not necessary. Conflict of interest, self dealing, secret profits and the misuse of confidential information should all be avoided by the agent in dealings with the principal and agency business (Barnes, 2003, pg. 318). Self dealing occurs when the agent sells his property to the principal. Secret profits are when the agent receives compensation from a third party and the principal without the principals' knowledge. The agent owes a fiduciary duty by not acting adversely to the principals interests. In order for the agent to avoid usurping an opportunity, the principal must be informed when a third party offer is made and the agent can not take advantage of this offer until the principal rejects the offer after due consideration (Cheeseman, 2004, pg. 588). Competing with the principal is not allowed unless the principal agrees.Funds and property is the duty of the agent to be accountable for all money or property paid into or out of the agency. All money, property or other benefits to the agent belongs to the principal during the course of the agency (Cheeseman, 2004, pg. 588). Breach of duty by the agent occurs when harm is caused to the principal. The principal can deduct injuries from compensation or if no compensation is to be paid, a court action can be taken (Barnes, 2003, pg. 328).Principal to Agent DutiesDuties of compensation are generally implied. The agency agreement should specify the compensation amount due once the compensation is earned. If the agency relationship has been terminated, then the agent would receive any type of commission, unless the agent was a primary...

Find Another Essay On Legal Issues Paper

Legal Issues in Reduction of Workforce Paper

1630 words - 7 pages performance is above the norm. This employee has been subject to harassment and discrimination by the supervisor (Ben) immediately due to sexual orientation the same. We present a formal complaint in which he concluded that the allegations were true Carl. Carl is a highly qualified person with extensive knowledge of different computer systems. Is a professional model who has no problems with absenteeism. Carl can bring to dismiss serious legal

E-Business Ethical, Legal, and Regulatory Issues Paper

790 words - 3 pages lead the way, followed by numerous start- ups and ventures by traditional and smaller firms their still remains a transformation and the ethical, legal and regulatory aspects continue to evolve.The Internet has created a lot of wealth and business value. It has also created opportunities to make large mistakes about the future of products, ideas, and companies. As organizations work on Internet strategies, thorough follow through is a key aspect

Legal Issues In Education

1195 words - 5 pages in scope in comparison. As new cases are brought forth technology in schools will become more defined. Until such time, schools can protect themselves and the students by creating policies governing how students use technology in the classroom and what is expected outside the classroom.ReferencesWaters, Kevin Stewart, (May 7, 2008). The Internet, Schools, and the Constitution: AHistorical Analysis of Court Decisions. Retrieved from the ERIC database onAugust 18, 2009.Wenkart, Ronald D., & Darden, Edwin C. (1999). Legal Issues & Education Technology.National School Boards Association. Retrieved from the ERIC database onAugust 18, 2009.

Ethical, Legal, And Regulatory Issues

1173 words - 5 pages , ask yourself if this is the proper way to handle business. Businesses have been guilty of shortsightedness themselves for decades. Every company needs to deal with ethical and legal issues every day in normal business activities. There is a whole new set of issues that are emerging with so much business being conducted online. This paper will attempt to show how ethical, legal, and regulatory issues differ in comparison with B2C and B2B.B2C Ethics

Work Environment and Legal Issues

2119 words - 8 pages organization. Previous researched study show employees spend hours surfing the Internet and sending non-work related emails to co-workers, family, and friends. With millions of employees having access to their employer’s Internet, companies are seeing an increase in Internet usage causing potential legal issues and billions of wasted dollars. These issues have also caused loss in productivity and network crashes. To combat these major issues, employers

Addressing International Legal and Ethical Issues

777 words - 3 pages Addressing International Issues PAGE \* MERGEFORMAT 1 Addressing International Legal and Ethical IssuesTeam BUniversity of PhoenixBUS 415June 4, 2009Addressing International Legal and Ethical IssuesThe University of Phoenix offers a simulation about CadMex and Gentura and an international contract they pursue (University of Phoenix, 2009). CadMex as a pharmaceutical company is about to go into contract with Gentura, a company in the country of

Legal and Ethical Issues in School Counseling

1735 words - 7 pages The topic of this paper focuses on the battles school counselors face as the law and ethical standards collide. School counselors face a number of legal and ethical issues and recognizing a clear decision isn’t always easy. School counselors have to work with a large number of students, parents, and administrators while conforming to ethical codes, state laws, and school board guidelines. This topic is of great relevance to me as I will be

Legal and Geographic Issues on the Internet

2086 words - 8 pages Legal and Geographic Issues on the Internet   Abstract    Many states and nations have conflicting laws regarding what type of digital content is legal.  When content is legal at its place of origin but illegal where it is downloaded the laws become unenforceable because no single jurisdiction applies.  International cooperation and Internet fragmentation are potential solutions, but neither is currently viable.  This paper discusses how

Overview of Data Encryption and Legal Issues

2185 words - 9 pages Overview of Data Encryption and Legal Issues What is encryption and why do we need it? The concept of encrypting information has been popular for hundreds of years. Revolutionaries, scientists, political activists and lovers have utilized this technique to maintain privacy and confidentiality in their communications. As kids, we would take our secret messages and shift the letters of the alphabet by a specific number to create an

B2B VS B2C: Legal, Ethical and Regulatory Issues

717 words - 3 pages As stated in earlier papers, the main difference between B2B sites and B2C sites is the customer that the site is serving. B2B sites are companies dealing with other companies and B2C sites are selling products or services to consumers directly via their web site. Every company needs to deal with legal, ethical and regulatory issues every day in normal business activities, but there are a whole new set of issues that come up with so much

Legal Issues, Ethics and Corporate Social Responsibility on Business Planning

931 words - 4 pages failures in many aspects of the daily operation of a business and the overall business plan of a corporation. The ongoing evaluation and analysis of the planning process is necessary to improve the overall process to keep the company in line with the latest changes in the industry. Therefore, this paper will discuss how legal issues, ethics and corporate social responsibility impact management planning at (My company).Legal IssuesBusiness plans

Similar Essays

Ethical, Legal, And Regulatory Issues Paper

1743 words - 7 pages who participate in conducting e-business transactions on the web. According to McAfee Inc., an internet security company, new threats are constantly arising on the internet that make consumers vulnerable to becoming victims of cyber crime (CNN, 2009).Aside from security issues, companies well as consumers need to be mindful of legal, ethical and regulatory issues when participating in an e-business environment. Team D's paper will discuss how

Bus/415 Legal Issues Final Research Project Paper

3262 words - 13 pages and paper-based transactions" (2004). Typing a name as approval for a sales transaction over the internet is just as binding and legal as signing a sales receipt.UETA has huge implications in online business because it removes the necessity of paper and written contracts. If both parties agree to electronic commerce, UETA helps expedite business transactions and limits costs. As the National Conference of Commissioners on Uniform State Laws

Assisted Suicide Paper The Need To Have An Understanding Of The Moral, Legal And Ethical Issues Facing Clinicians Dealing With End Of Life Issues. .

2100 words - 8 pages Assisted Suicide PaperFebruary 26, 2004AbstractThe need to have an understanding of the moral, legal and ethical issues facing clinicians dealing with end of life issues. Those who treat patients approaching the end of life often face moral, ethical, and legal issues involving shared decision-making, futility, the right to refuse medical treatment, euthanasia, and physician-assisted suicide. This paper will address the following; An overview of

Legal, Regulatory, Ethics Issues & Trends Paper

935 words - 4 pages employee just as efficient in their own home as in their office 30 miles away.Internet Trade CommissionThe entire world depends and strives on some independent fruit of E-Business today. The success or failure of E-Business companies thrives in the technology market and there are new legal and ethical issues that derive everyday. One major aspect of E-Business that I can see changing or developing in the next five years is an E-Business or E