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Chapter 14 –Legal and Ethical Obligations Business Ownership Spring 2007 Williams C. Greene, (2000). Entrepreneurship Idea...
14.1 Laws that Protect Businesses <ul><li>Three special government regulations give legal rights to creators of inventions...
Patents <ul><li>A  patent  is a legal document that gives an inventor the sole right to produce, use, and sell an inventio...
Copyrights <ul><li>A  copyright  is the legal right to exclusive publication, production, sale, or distribution of a liter...
Trademarks <ul><li>A trademark is a name, symbol, or special mark that can be used only by certain businesses.  </li></ul>...
Business Law <ul><li>There are too many laws to keep track of; here are a few: </li></ul><ul><ul><li>Clean Air Act, Clean ...
14.2 Ethical Issues <ul><li>Laws provide a minimum standard of behavior for people and businesses to follow.  However, man...
ETHICS <ul><li>Ethics  is the study of moral choices and values.  </li></ul><ul><li>(pg. 305) </li></ul>
Business Ethics <ul><li>Business ethics  is the application of the principles of right and wrong to issues  that come up i...
Code of Ethics <ul><li>A  code of ethics  is the level of ethical behavior demanded by an individual, a business, or a cul...
Code of Ethics <ul><li>There is no clear blueprint for writing a code of ethics and they differ from company to company  <...
Sexual Harassment  <ul><li>1980 Equal Employment Opportunity Commission (EEOC) defined  Sexual Harassment  as: Unwelcome s...
Ethics Tests <ul><li>These are many ways to test your actions to evaluate your daily ethical behavior </li></ul><ul><li>Fr...
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Ch. 14 Legal And Ethical

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Ch. 14 Legal And Ethical

  1. 1. Chapter 14 –Legal and Ethical Obligations Business Ownership Spring 2007 Williams C. Greene, (2000). Entrepreneurship Ideas in Action. Cincinnati, OH: South-Western.
  2. 2. 14.1 Laws that Protect Businesses <ul><li>Three special government regulations give legal rights to creators of inventions, literary or artistic works, and brand names so that no else can use their creations for profit </li></ul><ul><ul><li>Patents </li></ul></ul><ul><ul><li>Copyrights </li></ul></ul><ul><ul><li>Trademarks </li></ul></ul>
  3. 3. Patents <ul><li>A patent is a legal document that gives an inventor the sole right to produce, use, and sell an invention. </li></ul><ul><li>A patent lasts for 20 years </li></ul><ul><li>(pg. 300) </li></ul>
  4. 4. Copyrights <ul><li>A copyright is the legal right to exclusive publication, production, sale, or distribution of a literary or artistic work. </li></ul><ul><li>All books have copyrights </li></ul><ul><li>Copyrights remain in effect for 70 years after the death of the author </li></ul><ul><li>(pg. 300) </li></ul>
  5. 5. Trademarks <ul><li>A trademark is a name, symbol, or special mark that can be used only by certain businesses. </li></ul><ul><li>Products that are trademarked are identified by the TM or ® symbol </li></ul><ul><li>Examples: Band-Aid TM </li></ul><ul><li> (pg. 300) </li></ul>
  6. 6. Business Law <ul><li>There are too many laws to keep track of; here are a few: </li></ul><ul><ul><li>Clean Air Act, Clean Water Act, </li></ul></ul><ul><ul><li>Equal Employment Laws, Equal Pay Act </li></ul></ul><ul><ul><li>Age Discrimination in Employment Act of 1967 (ADEA) </li></ul></ul><ul><li>To ensure that your business activities are legal, this is the best way… </li></ul><ul><li>Hire a Lawyer or Attorney </li></ul>
  7. 7. 14.2 Ethical Issues <ul><li>Laws provide a minimum standard of behavior for people and businesses to follow. However, many behaviors are neither allowed nor disallowed by law. The guide that comes into play is ETHICS </li></ul><ul><li>So What is ETHICS ? </li></ul>
  8. 8. ETHICS <ul><li>Ethics is the study of moral choices and values. </li></ul><ul><li>(pg. 305) </li></ul>
  9. 9. Business Ethics <ul><li>Business ethics is the application of the principles of right and wrong to issues that come up in the workplace. </li></ul><ul><li>Business ethics -A collection of principles and rules that define right and wrong conduct for an organization. </li></ul><ul><li>(pg. 306) </li></ul>
  10. 10. Code of Ethics <ul><li>A code of ethics is the level of ethical behavior demanded by an individual, a business, or a culture. </li></ul><ul><li>A code of ethics is a formal, published document that is a collection of values and rules that reflect the firm’s philosophy and goals. (pg. 305) </li></ul>
  11. 11. Code of Ethics <ul><li>There is no clear blueprint for writing a code of ethics and they differ from company to company </li></ul><ul><li>Most codes include the following values; </li></ul><ul><ul><li>-Respect of individuals (employees/customers) -Fair treatment -Honesty –Integrity –Responsibility –Trust –Teamwork –Quality -Use of company resources -Gifts and entertainment -Confidentiality of information -Workplace Behavior </li></ul></ul><ul><li>(Ethics and the Conduct of Business Fourth Edition. Boatright; 2003) </li></ul>
  12. 12. Sexual Harassment <ul><li>1980 Equal Employment Opportunity Commission (EEOC) defined Sexual Harassment as: Unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature </li></ul><ul><li>(Ethics and the Conduct of Business Fourth Edition. Boatright; 2003) </li></ul>
  13. 13. Ethics Tests <ul><li>These are many ways to test your actions to evaluate your daily ethical behavior </li></ul><ul><li>Front Page Test -”What if the ethical decision you made was posted on the front page of the newspaper tomorrow morning. How would that make you feel?” </li></ul><ul><li>Golden Rule </li></ul>

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