The Role and Function of Law in Global Business

User Generated

Nevrynw5

Business Finance

Description

SOUTHWEST AIRLINE

Resources: Legal Environment of Business: Online Commerce, Business Ethics, and Global Issues: Ch. 1, Ch. 2 (pp. 23-32), Ch. 3, Ch. 4 and Ch. 26; sites such as: Public Library of Law, Law Library of Congress, and Justia Virtual Chase law database

Select a business or industry with which you are familiar and, in a minimum of 700 words, excluding title and reference pages, develop an analysis which addresses the following:

  • Identify at least two ways the U.S. legal system affects that business or industry. Be specific is describing what aspect of the legal system you are talking about such as, for example, a federal agency or federal regulations issued by a federal agency, administrative law, employment law, etc.
  • Examine the risks that the business or industry you chose encounters when using or dealing with traditional litigation, (suit, answer, discovery, trial) and what measures business managers can take to reduce exposure to those risks.
  • Choose a global/international business dispute from your business or industry, then compare and contrast one alternative method of dispute resolution with traditional litigation with regard to that dispute, and recommend which method is preferred and why.

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Explanation & Answer

Attached.

Running head: ROLE AND FUNCTION OF LAW IN GLOBAL BUSINESS

Role and Function of Law in Global Business
Institutional Affiliation
Date

1

ROLE AND FUNCTION OF LAW IN GLOBAL BUSINESS

2

Introduction
Businesses and industries may in the united states take different forms, styles, model and
types of growth, but are directed and structured by government laws and regulations. Each field
of business and industry is affected by certain laws and regulations which define conduct,
illegality, misconduct and set operational, transactional and financial codes that the business or
industry has to follow (Cheeseman, 2003). Law, from the business perspective, can be in the
form of regulatory law, labor law, reporting law or tax law.
The hospitality industry, encompassing hotels, restaurants, bars, motels, travel and the
entertainment sectors can be highlighted to explain the roles and functions of law in global
business. The paper will also examine the risks the hospitality industry encounters in using and
dealing with traditional litigation as well as the measures which managers in the field can take to
mitigate the risks. The last part of the paper will compare the alternative dispute resolution with
traditional litigation.
Effects of the U.S Legal System on Business
The united states law significan...


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