Ch 2: Major Laws Affecting Businesses

About This Chapter

Employees who are aware of laws impacting business practices can take the necessary measures to protect their organization from litigation. Use the lessons in this chapter to train your employees on employment law, securities law, contract law, and other legal specialties on the business environment.

Major Laws Affecting Business - Chapter Summary

This corporate training resource can introduce your employees to various law specialties and help them explore their impacts on day-to-day business practices. Chapter topics include:

  • Consumer protection and product liability laws
  • Laws regulating employee-employer relationships
  • Contract law and the Uniform Commercial Code
  • Antitrust law's impact on business competition
  • Applications of intellectual property law
  • Intentional, negligence, and strict liability torts
  • Key securities law statutes
  • International trade regulations

Instructors teaching these lessons outline the business law concepts every employee should be familiar with, using plenty of illustrations and examples to drive home the significance of complying with these regulations. You can also check your employees' understanding of these concepts with the multiple-choice quizzes that follow each lesson.

How It Helps

  • Improves awareness: These lessons acquaint your employees with the consumer protection, antitrust, and international trade regulations under which a business operates.
  • Reduces risk: Employees who study the business law concepts discussed in this chapter should be able to recognize and avoid behaviors that would put themselves or your organization at risk of violating laws relating to commercial contracts, securities sales, intellectual property rights, and personal negligence.
  • Encourages compliance: This chapter's lesson on employment law can make employees aware of their rights and remind managerial staff of their responsibilities to maintain a safe work environment in which employees are fairly compensated.

Skills Covered

By the end of this chapter, employees will be able to:

  • Identify the purposes of consumer protection law
  • Recognize areas addressed by employment law
  • Describe sources of contract law
  • Explain how antitrust law prevents unfair competition
  • Outline protections granted by intellectual property laws
  • Provide examples of the three types of tort law
  • Identify transactions regulated by securities law
  • Describe types of regulations governing imports and exports

9 Lessons in Chapter 2: Major Laws Affecting Businesses
Test your knowledge with a 30-question chapter practice test
What Is Consumer Protection? - Product Liability, Laws & Rights

1. 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.

What is Employment Law? - An Introduction to Employment Law

2. 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.

Sources of Contract Law: Common Law & Uniform Commercial Code

3. Sources of Contract Law: Common Law & Uniform Commercial Code

There are two sources of contract law: common law, which is based on case rulings, and statutory law, which is based on federal and state statutes. Contract law uses both common law and a set of statutory rules known as the Uniform Commercial Code.

Antitrust Law: Definition, Types & Outline

4. Antitrust Law: Definition, Types & Outline

Antitrust laws are statutes developed to protect consumers from rapacious business practices by making it illegal for businesses to compete in unfair ways.

What is Intellectual Property Law? - Definition and Rights

5. What is Intellectual Property Law? - Definition and Rights

Intellectual property is a broad term that applies to many different types of original creations. Businesses use intellectual property law to protect innovative and marketable works created in someone's mind. This lesson explains this special type of property law.

Practical Application: Understanding Intellectual Property Law

6. Practical Application: Understanding Intellectual Property Law

Intellectual property is incredibly valuable, but not always tangible. Business professionals must be able to accurately identify intellectual property and articulate the characteristics of the laws that protect it.

What Is Tort Law? - Definition and Examples

7. What Is Tort Law? - Definition and Examples

A tort is simply a civil wrong. There are three general types of torts that may cause injury to another person. In civil law, torts are grounds for lawsuits to compensate a grieving party for any damages or injuries suffered.

Securities Law: Definition, Statutes & Penalties

8. Securities Law: Definition, Statutes & Penalties

Securities are documents that serve as evidence of a corporation's property. Securities laws are meant to protect investors by making sure they have accurate information about a corporation, as you'll find out in this video.

International Trade Regulations & Restrictions

9. International Trade Regulations & Restrictions

Importing and exporting are vital elements to a healthy U.S. economy. Businesses should be familiar with international laws regarding trade. This lesson defines imports and exports and discusses international trade regulations and restrictions.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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? 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

Other chapters within the Basic Business Law Concepts course