About This Chapter
The Legal Environment - Chapter Summary and Learning Objectives
In this chapter, subject-matter experts can help you understand the legal environment in business. You'll study ethics theories and be introduced to several forms of white collar crime. You'll also get details on government regulation and corporate criminal liability. By the end of this chapter, you should be familiar with:
- Ethical decision-making models
- Major ethical theorists
- Rules associated with legal ethics
- Business ethics
- Sarbanes-Oxley Act
- Environmental laws
|Legal Ethical Decision Making: Models, Steps & Framework||Find out why ethical decision making is important. Examine the Golden Rule, the Universalization Test and the Public Disclosure Test.|
|Theories of Ethics: Rights & Natural Laws||Compare and contrast major ethical theories. Examine such theories as ethical relativism and situational ethics, absolutism, virtue ethics and ethics of care.|
|Attorney Professional and Ethical Conduct in Business||Get the definition of legal ethics and find out how legal ethics and business law are related. Study model rules, malpractice, attorney/client privilege and conflicts of interest.|
|What is White Collar Crime? - Definition, Statistics & Examples||Learn about bribery, extortion, fraud and embezzlement. Examine insider trading, forgery and cyber crimes. See real court cases pertaining to these types of crimes.|
|Corporate Criminal Liability: Definition & Examples||Examine strict liability and vicarious liability. Study an actual court case on corporate criminal liability.|
|Deterring Business Crime: RICO, False Claims Act & Sarbanes-Oxley Act||Discover the ways companies are fighting back against business crime.|
1. Legal Ethical Decision Making: Models, Steps & Framework
Ethical decision making involves making choices based on what is good for all people. The Golden Rule, public disclosure test and universalization test are three models that consider others in their application.
2. Theories of Ethics: Rights & Natural Laws
Legal rights are those rights provided to citizens through the Constitution and other articles of the US legal system. Natural rights are rooted in the ethical, based on what is right or wrong. Learn more about ethics in this lesson.
3. Attorney Professional and Ethical Conduct in Business
Lawyers play an important part in business, but they must follow model rules regarding ethics. This lesson addresses legal ethics in business law, including malpractice, attorney-client privilege and conflicts of interest.
4. What Is White Collar Crime? - Definition, Statistics & Examples
White collar crimes involve criminal activities committed by people in the regular course of their business and involve bribery, extortion, fraud and embezzlement. These crimes usually end in financial gain for the perpetrator.
5. Corporate Criminal Liability: Definition & Examples
Corporations, just like individuals, can be tried and convicted of committing crimes if managers, directors or even ordinary workers commit the crimes. There are two types: strict liability and vicarious liability.
6. Deterring Business Crime: RICO, False Claims Act, & Sarbanes-Oxley Act
There are three acts that deter corporations from committing crimes that affect customers, shareholders and employees: RICO Act, False Claims Act and Sarbanes-Oxley Act. Each act protects against various crimes, but all of the acts hold businesses accountable for their actions.
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Other chapters within the Business 103: Introductory Business Law course
- History of American Law
- Sources of Law
- Constitutional Law
- American Legal Systems
- Legal Procedures
- Contract Law Basics
- Capacity in Contract Law
- Contract Law and Third Party Beneficiaries
- Contracts: Assignment and Delegation
- Contracts: Statute of Frauds
- Contracts: Scopes and Meanings
- Contracts: Breach of Contract
- Contracts: Discharge of Contracts
- Securities and Antitrust Law
- Property Law
- Creditors' Rights
- Product Liability and Consumer Protection
- Torts in Business Law
- The Role of Agency in Business Law
- Sales & the Law
- Studying for Business 103