Role of Business in Society

ROLE OF LAW IN BUSINESS AND SOCIETY

ROLE OF LAW IN BUSINESS AND SOCIETY

LAW/421

Abstract

The functions of law in society and role of law in business, differ in many ways, primarily in the area of punishment. Criminal laws relating to society and laws that govern business and the enforcement of these laws are not only based on state by state mandates, but they are also governed by laws that blanket all states and citizens under the constitution or federal laws.

Role of Law in Business and Society

The United States of America, fifty states with just as many sets of laws, the complexity of this system of government can be perplexing. The unification of the states, one by one, into the federal union, is the reason for variation of laws from state to state, and although the laws may change dramatically depending upon where you reside, all laws yield to federal law.

Laws are essential to the success of business and the progress of people. Laws prevent mistreatment, misuse and misunderstanding in criminal, civil and business disputes by presenting clear and concise guidelines for conduct, including forms of speech and behavior.

Function and Role of Law in Business

The function of law in business is to first, protect the consumer. Fraudulent activities and product misrepresentation are two of the more notable areas why the laws in business are crucial. Specific laws in areas where consumers may be at a higher risk, such as product misrepresentation can be harmful to the health of consumers. Improper or labeling, including advertisements that are intentionally misleading have been found to be more common than not and are often based on the interpretation of the consumer, in direct response to an advertisement or packaging, i.e. surgeons general warning on cigarettes including the word “may” or a “glamorous” depiction of cigarette smoking....