In order to establish a semblance of control in society, laws and regulations are necessary. The same will prove true in the world of business.

Business laws exist in order to have control over transactions that occur, regardless of the trade or type of business. Generally speaking, business law is meant to provide for general control and maintenance of commercial transactions. However, it can also be said that business law exists as a way to protect the consumer from manufacturers and companies.

Business laws will take into consideration other aspects of law in general, such as certain ethical and moral practices and the need for certain administrative concerns. Without business laws in place, companies and manufacturers could potentially sell goods and items that are not functioning or do not do what they are represented to do. Furthermore, without business laws there would be no legal recourse to reprimand such immoral and wrongful actions. Business laws provide for regulations that must be followed to help ensure truthful commercial transactions. 

Employment laws are determined by state law. Therefore, not all companies follow the same labor laws. Depending on in which state the company is located will determine the type of labor laws that the company will have to abide by. 

Company employment laws will vary also due to the type of business that it is. For example, all restaurants in a particular state will have to abide by the same laws. However, a construction company may not necessarily have to abide by these stated labor laws. 

Generally speaking, there are some labor laws that all companies must follow, such as minimum wage, age, hours of work, working conditions, and pay. All companies must also abide by an equal opportunity employment law, which states that they must hire people based on their qualifications, and they cannot discriminate against people based on their age, gender, race, or religion.

If a person or business is caught partaking in corrupt business practices, there will be certain ramifications for such conduct. Illegal business practice is seen as a Federal crime, and therefore, all states have the same general laws by which they must abide.  

In terms of punishment, different corrupt business actions will warrant different types of punishment. Types of corrupt business practices include: business fraud, extortion, and money laundering. The degree of the crime and punishment. 

Regardless of the action, the individual in charge will be tried in a Federal court. The typical results of corrupt business practices include: jail time, fines, and repayment of any damages that have been caused. Generally speaking, the business will be audited and have to present documentation of all business actions for a specific time period.

For those wishing to file a Better Business Bureau complaint against an employer, specific information is required. For example, if the offense is related to pay, the employee must have documentation about any pay received and any missing pay. If the complaint requires a Better Business Bureau form that relates to the treatment of employees, such as harassment or threats, different information may be required.  

Better Business Bureau forms may also be used for complaints against a business that took part in illegal or improper activity. The individual should obtain the license number, address and phone number of the company. It is also advised that the names of anyone that handled the work be listed on the Better Business Bureau form. 

The laws associated with employee e-mail and Internet privacy should be acknowledged of all employed individuals. Understanding the laws associated with employee e-mail and Internet privacy will avoid unfortunate circumstances, such as job termination, from occurring. 

When employed by a private sector employer or corporation, you must understand that all e-mails sent are considered property of the company. As a result, the underlying business or corporation has the ability to observe all employee e-mail. Any inside information or misconduct will be treated as public domain and persecuted as a violation against company policy.

In addition, Internet privacy is essentially non-existent for employers. Your company has the rights and ability to observe all Internet searches and visited sites. These rights are awarded to employers to prevent misconduct that would damage a company’s business model. Employee e-mail and search histories are also observable to ensure that each worker is reaching or near maximum efficiency. 

The Federal Trade Commission Act of 1914 was a piece of Federal legislation that created the U.S. Federal Trade Commission. The Federal Trade Commission (FTC) was established in order to promote fair trading practices and to protect consumers from corruption and illicit behavior on the part of corporations.

The Federal Trade Commission Act granted the United States President the authority to appoint the members of the Federal Trade Commission. The Commission was composed of five different members who each served a seven year term. It was permitted to authorize Cease and Desist orders, which required large corporations to halt specified activities. Therefore, if the Committee believed that a corporation was engaging in harmful or unlawful activities, it could legally require the corporation to abandon these activities. One such example is the formation of coercive monopolies, which could be dissolved by the Commission.

Under United States Federal law, an employer is not required to provide employees with holiday compensation. Some states have adopted laws that require employers to provide holiday pay, though this varies significantly from one state to another. Therefore, it is important for an individual to review the labor laws in his/her state.

In addition, an employer is not required to allow employees time off on holidays. Nevertheless, most business entities will close on major holidays. Federal law does require employers to respect an individual’s religious holidays and observances. Therefore, if an employee requests time off for religious reasons, an employer should grant his/her request.

If employees do work on public holidays, employers do not legally need to provide overtime or premium compensation. Despite the absence of holiday pay laws, most employers provide employees time and a half if they work on major holidays.

The law of agency is a commercial law subject concerning legal relationships established by contracts or similar kinds of agreements with the general effect of empowering agents to act on the behalf of others. As such, this branch of legal theory will pertain to such agencies as those shared between agents and principals, agents and third parties, and principals and third parties. 

The law of agencies comes under the coverage of common law, and thus, can be differentiated from that of civil laws. The Latin phrase “qui facit per alium, facit per se,” or “the one who acts through another, acts in his or her own interests” can be referred to as a description of the law of agency. Laws of agency can, moreover, provide for such various agencies as those of universal agents, general agents, or special agents, and can create either actual or apparent authority.

A business partnership refers to some form of agreement between more than one individual to shared cooperation toward the end of carrying out common goals and acting for common interests. Moreover, a partnership of this kind will involve the two or more parties to the agreement designating themselves, by shared agreement, as co-owners. 

A business partnership can be designated as such in most areas and legal jurisdictions of the world, and in the specific instance of the U.S., a partnership can be created according to many different possible forms in accordance with the laws of the particular state in which the business partnership is put into effect. Additionally, U.S. Federal law allows for a great deal of leniency on the part of state legislatures as to the specific definition of a business partnership. Most specifically, a business partnership might be created as a general, limited, or limited liability partnership.

The distinction between a secondary market and primary market is a necessary element of understanding the capital markets sector. A primary market represents the first venue in which securities, such as stocks or bonds, can be offered, while a secondary market can be designated as the setting in which the securities first offered through a primary market are offered for sale. Moreover, a primary market allows investors to purchase these financial products directly from the individuals or groups initially responsible for creating them. The secondary market, on the other hand, represents a venue for transactions between various investors. 

The Initial Public Offering of a corporation which has newly made the transition to being publicly traded is considered a primary market transaction. In general, primary market trading is considered underwriting. Secondary market settings include the New York Stock Exchange and NASDAQ. In addition, securities can also be traded through third and fourth markets.