About This Chapter
Business Law and Regulation - Chapter Summary
In this chapter, our video instructors explain how the first, fifth, and fourteenth amendments to the Constitution apply to business law. You'll be introduced to due process and the equal protection clause. This chapter will also discuss contract law, including parties to a contract and contract terms.
You'll learn about trademark, patent, and copyright infringements as well as corporate criminal responsibility. As you progress through this chapter, you'll study legal ethics and laws designed to deter business crime, such as Sarbanes-Oxley and the False Claims Act. After you complete this chapter, you should be able to:
- Define business law
- Discuss the Constitutional amendments and protections that apply to businesses
- Define contract law and the parties to contract law
- Differentiate between patents, copyrights, and trademarks
- Define vicarious liability and legal ethics
- Name the major statutes designed to deter corporate crime
- Discuss credit, consumer, privacy, and product liabilities
Our online video lessons on business law and regulations each include a video presentation designed by an experienced educator. Each lesson comes with a self-assessment quiz, so you can gauge how well you're learning the material as you go. Lessons also include a written transcript as an alternative way to access the information in the lesson. Key words in the transcript are clickable links that take you to more in-depth information for further study.
1. Major U.S. Federal Regulatory Agencies in Business: Types, Functions & Authority
In order to ensure that U.S. corporations are maintaining ethical business practices, the federal government has established regulatory agencies to protect employees, customers and the general public. This lesson explores major regulatory agencies and their functions.
2. What Is Business Law? - Definition & Overview
Business law is a broad area of law. It covers many different types of laws and many different topics. This lesson explains generally what business law is and how it's used.
3. The First Amendment: Commercial Speech, Scrutiny & Restrictions
The First Amendment of the Constitution states that all citizens are free to practice their preferred religion, speak freely and to assemble. Learn how and why businesses are less protected and are held to a higher scrutiny in this lesson.
4. Due Process & Taking the Fifth & Fourteenth Amendments
There are only two amendments that stand for the same rights: the 5th Amendment and 14th Amendment. In this lesson, we will learn how both amendments speak to the rights of life, liberty and property with government protection and due process.
5. The Equal Protection Clause in the Fifth and Fourteenth Amendments
Both the 5th Amendment and the 14th Amendment of the US Constitution provide all citizens with equal protection of their right to life, liberty and property. The main difference being the 5th Amendment provides it under the Due Process clause.
6. Contract Law Terms: Definitions & Contract Types
A contract is an agreement between two or more parties to perform a service, provide a product or commit to an act and is enforceable by law. There are several types of contracts, and each have specific terms and conditions.
7. Parties to a Contract: Promisor, Promisee & Beneficiary
There are at least two parties involved in a contract: the promisor, promisee and, sometimes, a third party beneficiary may be named. Each party has a different obligation to the contract terms. The beneficiary in a contract generally does not have the same level of responsibility for the contract's performance.
8. What is Employment Law? - An Introduction to Employment Law
Employment law is a broad area of the law. In general, this area governs the employer-employee relationship, but includes many subjects. This lesson will define and explain employment law.
9. Trademark Infringement: Laws and Penalties
Trademark infringement occurs when someone uses another's trademark without permission from that trademark's owner. There are various state and federal laws that protect trademarks. This lesson explains trademark infringement and the laws that cover trademark infringement.
10. Patent Infringements: Definition and Cases
Patent infringement is a complicated civil cause of action. There are many, various components to patent infringement. Generally, it's the use of a patented object without the patent owner's permission. This lesson explains patent infringement.
11. What is Copyright Infringement? - Understanding Copyright Law
Copyright is a type of intellectual property right that protects certain original works. Copyright laws work to provide authors with exclusive rights to their works. Any unauthorized use could amount to copyright infringement. This lesson explains copyright law and copyright infringement.
12. What Is Vicarious Liability? - Definition and Examples
Most times, a liability lawsuit is directed at the negligent party. Sometimes, a lawsuit can involve parties who are not directly involved in the dispute because of the relationship the outside party has with the defendant.
13. 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.
14. 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.
15. Unfair Competition: Methods, Elements & Laws
Unfair competition refers to several different types of intentional torts that cause economic injury to another person's business. These torts are various forms of deceptive business practices. This lesson explains unfair competition.
16. What Is Privacy Protection? - Laws & Rights
Financial privacy protection is a form of consumer protection. It's designed to protect consumer information held by financial institutions. This lesson discusses financial privacy protection and the Gramm-Leach-Bliley Act.
17. What Is Credit Protection? - Laws & Services
Credit protection is a form of consumer protection that is designed to help preserve credit health for both individuals and businesses. This lesson discusses the laws and services involved in credit protection as well as the FTC's role.
18. What Is Product Liability? - Definition & Laws
Businesses are held responsible when their products are defective, known as product liability. Liability can be based on one or more of three theories: Breach of warranty, negligence, and strict liability. This lesson explains these three theories.
19. What Is Consumer Protection? - Product Liability, Laws & Rights
Consumer protection refers to the laws and other forms of government regulation designed to protect consumers. One form of consumer protection is product liability. This lesson explains consumer protection and product liability.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the High School Marketing for Teachers: Help & Review course
- How Organizations are Structured & Designed
- General Business Management
- Ethics and Social Responsibility in Organizations
- Economic Basics
- Business and the Economy
- The Economy and the US Government
- Entrepreneurship & Types of Businesses
- Marketing Basics
- Product Pricing & Selling
- Product Development & Distribution
- Promotion & Advertising
- Selling & Customer Service
- Market Research and Segmentation
- Strategic Planning for Marketers
- Global Business Strategies and Challenges
- Business Communication
- Business Analytics
- Computer Basics for Business
- The Internet and Business
- Marketing Education
- Career Planning for High School Students
- Laying the Foundation for a Marketing Career
- Marketing Employment Skills
- Marketing Career Stages
- Marketing Instruction & Assessment