{"id":6556,"date":"2016-08-23T15:41:35","date_gmt":"2016-08-23T15:41:35","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/masterybusiness2xngcxmasterspring2016\/?post_type=chapter&#038;p=6556"},"modified":"2024-05-02T19:39:30","modified_gmt":"2024-05-02T19:39:30","slug":"legal-differences","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/chapter\/legal-differences\/","title":{"raw":"Legal Differences","rendered":"Legal Differences"},"content":{"raw":"<div class=\"textbox learning-objectives\">\r\n<h3>Learning Outcomes<\/h3>\r\n<ul>\r\n \t<li>Describe the impact of legal differences on global trade<\/li>\r\n<\/ul>\r\n<\/div>\r\n<img class=\"alignright wp-image-10032\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/143\/2017\/02\/10233101\/8932309541_8e605ab7d7_o.jpg\" alt=\"Sign on a brick wall that says &quot;Commit No Nuisance.&quot;\" width=\"350\" height=\"259\" \/>\r\n\r\nGovernments around the world maintain laws that regulate business practices. In some countries, these laws are more heavy-handed, and in others, the business climate is less regulated and structured. Some laws and regulations, such as ones governing property rights and contracts, are designed to create a stable environment for business (both domestic and international)\u2014by establishing and enforcing property rights and contracts, for example. Others are designed to protect consumers and the environment, requiring businesses to adhere to responsible, safe, and ethical practices. Still other laws and regulations privilege domestic businesses and protect or partially shield them from foreign competition. There are even laws and regulations that affect\u00a0what marketers are allowed to include in marketing communications, although these are more strict\u00a0in some countries than in others.\u00a0And of course, some laws and regulations deal with taxation and other costs of conducting\u00a0business.\r\n\r\nBusinesses must understand and conform to the legal and regulatory environments of the countries and regions in which they operate. The following is a short list of common regulatory areas that affect businesses globally:\r\n<ul>\r\n \t<li><strong>Contract law<\/strong>\u00a0governing\u00a0agreements about the supply and delivery of goods and services<\/li>\r\n \t<li><strong>Trademark<\/strong>\u00a0registration and enforcement for brand names, logos, tag lines, and so forth<\/li>\r\n \t<li><strong>Labeling<\/strong>\u00a0requirements for consumer safety, protection, and transparency<\/li>\r\n \t<li><strong>Patents\u00a0<\/strong>to enforce intellectual property rights and business rights associated with unique inventions and \"ownable\" business ideas<\/li>\r\n \t<li><strong>Decency, censorship, and freedom-of-expression<\/strong>\u00a0laws to which marketing communications are subject<\/li>\r\n \t<li><strong>Price floors, ceilings, and other regulations<\/strong>\u00a0regarding the prices organizations can charge\u00a0for certain\u00a0types of goods and services<\/li>\r\n \t<li><strong>Product safety<\/strong>, testing, and quality-control<\/li>\r\n \t<li><strong>Environmental protection<\/strong> and conservation regulations and permits governing acceptable and responsible business practices<\/li>\r\n \t<li><strong>Privacy<\/strong>, including laws governing data\u00a0collection, storage, use, and permissions associated with consumers and their digital identities<\/li>\r\n \t<li><strong>Financial reporting<\/strong>\u00a0and disclosure to ensure that organizations provide transparency around sound business and financial practices<\/li>\r\n<\/ul>\r\nIn some cases, international laws and regulations designed to simplify these issues among regional allies and economic partners may also apply.\r\n<div class=\"textbox tryit\">\r\n<h3>Practice Question<\/h3>\r\nhttps:\/\/assess.lumenlearning.com\/practice\/1495afae-82bb-42b1-8fca-f2d17e71aeba\r\n<\/div>","rendered":"<div class=\"textbox learning-objectives\">\n<h3>Learning Outcomes<\/h3>\n<ul>\n<li>Describe the impact of legal differences on global trade<\/li>\n<\/ul>\n<\/div>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-10032\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/143\/2017\/02\/10233101\/8932309541_8e605ab7d7_o.jpg\" alt=\"Sign on a brick wall that says &quot;Commit No Nuisance.&quot;\" width=\"350\" height=\"259\" \/><\/p>\n<p>Governments around the world maintain laws that regulate business practices. In some countries, these laws are more heavy-handed, and in others, the business climate is less regulated and structured. Some laws and regulations, such as ones governing property rights and contracts, are designed to create a stable environment for business (both domestic and international)\u2014by establishing and enforcing property rights and contracts, for example. Others are designed to protect consumers and the environment, requiring businesses to adhere to responsible, safe, and ethical practices. Still other laws and regulations privilege domestic businesses and protect or partially shield them from foreign competition. There are even laws and regulations that affect\u00a0what marketers are allowed to include in marketing communications, although these are more strict\u00a0in some countries than in others.\u00a0And of course, some laws and regulations deal with taxation and other costs of conducting\u00a0business.<\/p>\n<p>Businesses must understand and conform to the legal and regulatory environments of the countries and regions in which they operate. The following is a short list of common regulatory areas that affect businesses globally:<\/p>\n<ul>\n<li><strong>Contract law<\/strong>\u00a0governing\u00a0agreements about the supply and delivery of goods and services<\/li>\n<li><strong>Trademark<\/strong>\u00a0registration and enforcement for brand names, logos, tag lines, and so forth<\/li>\n<li><strong>Labeling<\/strong>\u00a0requirements for consumer safety, protection, and transparency<\/li>\n<li><strong>Patents\u00a0<\/strong>to enforce intellectual property rights and business rights associated with unique inventions and &#8220;ownable&#8221; business ideas<\/li>\n<li><strong>Decency, censorship, and freedom-of-expression<\/strong>\u00a0laws to which marketing communications are subject<\/li>\n<li><strong>Price floors, ceilings, and other regulations<\/strong>\u00a0regarding the prices organizations can charge\u00a0for certain\u00a0types of goods and services<\/li>\n<li><strong>Product safety<\/strong>, testing, and quality-control<\/li>\n<li><strong>Environmental protection<\/strong> and conservation regulations and permits governing acceptable and responsible business practices<\/li>\n<li><strong>Privacy<\/strong>, including laws governing data\u00a0collection, storage, use, and permissions associated with consumers and their digital identities<\/li>\n<li><strong>Financial reporting<\/strong>\u00a0and disclosure to ensure that organizations provide transparency around sound business and financial practices<\/li>\n<\/ul>\n<p>In some cases, international laws and regulations designed to simplify these issues among regional allies and economic partners may also apply.<\/p>\n<div class=\"textbox tryit\">\n<h3>Practice Question<\/h3>\n<p>\t<iframe id=\"assessment_practice_1495afae-82bb-42b1-8fca-f2d17e71aeba\" class=\"resizable\" src=\"https:\/\/assess.lumenlearning.com\/practice\/1495afae-82bb-42b1-8fca-f2d17e71aeba?iframe_resize_id=assessment_practice_id_1495afae-82bb-42b1-8fca-f2d17e71aeba\" frameborder=\"0\" style=\"border:none;width:100%;height:100%;min-height:300px;\"><br \/>\n\t<\/iframe>\n<\/div>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-6556\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Legal Differences. <strong>Authored by<\/strong>: Linda Williams and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><li>Practice Question. <strong>Authored by<\/strong>: Nina Burokas. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Commit No Nuisance. <strong>Authored by<\/strong>: Brian Yap. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/www.flickr.com\/photos\/yewenyi\/8932309541\/\">https:\/\/www.flickr.com\/photos\/yewenyi\/8932309541\/<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc\/4.0\/\">CC BY-NC: Attribution-NonCommercial<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":114,"menu_order":14,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"Commit No Nuisance\",\"author\":\"Brian Yap\",\"organization\":\"\",\"url\":\"https:\/\/www.flickr.com\/photos\/yewenyi\/8932309541\/\",\"project\":\"\",\"license\":\"cc-by-nc\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Legal Differences\",\"author\":\"Linda Williams and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"original\",\"description\":\"Practice Question\",\"author\":\"Nina Burokas\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"23f204cb-9b06-4e66-911b-ded0d33c460a, 0d478edb-f88b-4f0c-968a-1ae7c3aa731d","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-6556","chapter","type-chapter","status-publish","hentry"],"part":82,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/6556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/users\/114"}],"version-history":[{"count":16,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/6556\/revisions"}],"predecessor-version":[{"id":15287,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/6556\/revisions\/15287"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/parts\/82"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapters\/6556\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/media?parent=6556"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/pressbooks\/v2\/chapter-type?post=6556"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/contributor?post=6556"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-introductiontobusiness\/wp-json\/wp\/v2\/license?post=6556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}