COB 218 Legal Environment of Business
Upon completion of COB 218, the student will be able to:
Ethics and Basic Legal Concepts
- Define law and compare law with ethics
- Describe the difference between Common law and Civil law.
- Define the role of precedent and the doctrine of stare decisis
- Understand the source of law in the US
Intellectual Property Rights and Cyberspace Law
- Describe how an invention can be patented under federal patent laws and be able to apply the public use doctrine.
- Describe the penalties for patent infringement.
- List what writings can be copyrighted
- Describe the term of protection provided by federal copyright law, and be able to apply the fair use doctrine.
- Describe the penalties for copyright infringement.
- Describe the legal rights that computer and software designers have in their works.
- Define trademarks and service marks and describe how these are registered.
- Be able to apply the generic name doctrine.
- Describe the penalties for trademark infringement.
Judicial and Alternative Dispute Resolution
- Describe subject matter and in personam jurisdiction.
- Describe the federal and state court systems.
- Explain the jurisdiction of federal courts and how a case reaches the US Supreme Court.
- Explain the use of arbitration and other nonjudicial methods of alternative dispute resolution.
International Law and Dispute Resolution
- List and describe the sources of international law.
- Explain the principle of comity.
- Describe choice of law and forum-selection clauses.
- Describe the act of state doctrine and doctrine of sovereign immunity.
Contract Formation and Commercial Law
- Describe the act of state doctrine and doctrine of sovereign immunity.
- List and define the elements necessary to form a valid contract.
- Describe and distinguish between express implied-in-fact and implied-in-law contracts.
- Describe and distinguish among valid, void, voidable, and unenforceable contracts.
- Define sales contracts governed by Article 2 of the UCC.
- Describe assignment of contracts and what contract rights are assignable.
Constitutional and Administrative Law
- Describe the concept of federalism and the doctrine of separation of powers.
- Define and apply the Supremacy Clause of the US Constitution.
- Explain the federal government's authority to regulate the foreign and interstate commerce.
- Describe the state and local government's authority to regulate commerce under their "police power."
- Explain how civil rights are protected by the Bill of Rights.
- Describe substantive and procedural due process of law.
- Explain the doctrine of equal protection of the law.
- Define and describe the functions of administrative agencies.
Contract Performance and International Trade
- Explain genuineness of assent, fraud, writing requirements, and impossibility of performance.
- Describe compensatory, consequential, and liquidated damages and the equitable remedies of specific performance, quasi-contract, and injunction.
- Describe how letters of credit are used to facilitate international trade.
- Describe the United Nations Convention on Contracts for the International Sale of Goods (CISG).
Equal Opportunity in Employment
- Define affirmative action and explain why it was implemented.
- Explain the laws that prohibit discrimination based upon race, creed, color, religion, gender, national origin, age, sexual orientation and disability.
- Explain sexual harassment.
- Define and explain the business necessity, seniority, and bonafide occupational qualification defenses to a discrimination lawsuit.
- List and describe the remedies for violations of equal employment opportunity laws.
Intentional Torts, Negligence, Strict Liability, Product Liability
- List and describe the elements necessary to prove product liability.
- List and describe the elements necessary to prove the intentional torts against persons and against property.
- List and describe the elements necessary to prove negligence and strict liability.
- List and describe the defense to tort liability and to product liability lawsuits.
- Describe the Magnuson-Moss Warranty Act.
- List and describe damages recoverable in tort and product liability lawsuits.
- Describe government protection in the regulation of food, drugs, cosmetics, and medicinal devices.
- Describe government food labeling and packaging requirements.
- Identify unfair/deceptive advertising and the role of the Federal Trade Commission in the enforcing rules related to it.
- Describe the primary statutes for protecting consumer credit.
- Describe the concept of activities in restraint of trade and identify the major items in this area.
- Apply the rule of reason and the per se rule to idenfify unreasonable restraints of trade
- Describe why monopolies and attempts to monopolize are illegal in the US.
- Describe defenses available to businesses to charges of antitrust violations.
- Explain price fixing and price discrimination and the defense of "meeting the competition."
- List and explain the civil and criminal penalties for violating antitrust laws.
- Describe the Clean Air and Clean Water Act
- Explain how environmental laws affect the storage, transport, and disposal of toxic/hazardous waste.
- Describe the Endangered Species Act and its impact on business.
- List and explain the civil and criminal penalties for violating environmental laws.
- Describe and distinguish sole proprietorships, general partnerships, limited partnerships, and corporations in the following ways: creating capital, liability, taxation, and management control.
- Explain the contract and tort liability of partners, limited partners, officers, and shareholders.
- Describe limited liability corporations and franchise arrangements.
- Describe the duties required of partners in a general partnership and limited partnership.
- Describe the rights and duties of shareholders, directors, and officers in managing the affairs of a corporation.
- Describe the process for approving a merger or consolidation and the rights of dissenting shareholders.
- Define tender offers, poison pills, white knight mergers and greenmail.
Credit Transactions, Negotiable Instruments, and Bankruptcy
- Recognize different types of negotiable instruments, including drafts, promissory notes, check, and certificates of deposit.
- Distinguish between unsecured and secured credit.
- Define creditors' rights of attachment, execution, and garnishment.
- Describe the procedure for filing bankruptcy including liquidation.
- Describe the procedure for filing for bankruptcy including liquidation, business reorganization, and debt adjustment.
Employment/Labor and Worker Safety Laws
- Describe the unionization process.
- Explain what consititutes illegal interference with union activities and the consequences of such actions.
- Describe collective bargaining.
- Explain the concept of "right to work."
- Define worker's compensation and unemployment insurance.
- Describe the impact of OSHA and its' regulations on the workplace.
- Describe the Immigration and Control Act and compliance requirement.
- Define agency
- Distinguish between employer/employee, principal/agent, and independent contractor.
- List and describe the duties of agents and principals to each other.
- Define the concept of respondent superior and explain employer/principal responsibility for the tortuous conduct of an employee agent.