Chapter%201 - Chapter 1 The Legal Environment of Business...

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09/26/11 Chapter 1: The Legal Environment of Business in the Information Age David Baumer, Spring 2003
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09/26/11 Importance of Law Law is everywhere Mistakes of law can be costly or fatal to a business Legal Environment Is a term that describes the relationship of the law to businesses Changes when technology or societal mores change At the same time, law shapes business practice and technological growth Technological change has accelerated recently
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09/26/11 Legal Environment Much of the wealth of companies is now held in the form of Intellectual Property (IP) Patents, copyrights, trade secrets, and trademarks The other technological change that has impacted on legal environment of business is the emergence of the Internet The Internet has caused significant alterations in contract law Internet has negatively impacted user privacy causing the federal government to enact new laws
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09/26/11 Impact of the Internet on Law Internet has also made businesses more vulnerable to having their trade secrets stolen Encryption has been used to make E-Commerce more secure. Internet has also impacted constitutional law Taxation of web sites Pornography Internet has also caused significant changes in various forms of government regulation Particularly consumer protection, antitrust and securities law
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09/26/11 International Law Globalization of markets has enhanced importance of international law Three issues in international law: Reciprocity --to what extent are foreigners treated the same as domestic firms Harmonization
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