Business Laws Business Laws and Regulations Promote fair
Business Laws
Business Laws and Regulations • Promote fair practices and protect the best interests of: • Employers • Employees • Consumers • Government • World
Regulations are rules that have the force of law and are issued by the government such as: Privacy laws to keep personal information safe from theft Online laws covering the areas of privacy, security, intellectual property and taxes Advertising laws to regulate truth in advertising and product labelling Finance laws covering bankruptcy and financial reporting Regulatory Requirements Legal issues if not addressed well could potentially harm the business
Business Laws Identified Fair Business Practices Tax Laws Encourage free enterprise and limit monopolies Businesses must collect taxes on the sales they make and submit that to revenue Canada Employers must collect taxes required to be submitted to Revenue Canada
Business Laws Identified Environmental Laws regulate Legal Procedure Safe handling toxic chemicals Importing/Exporting materials that are potentially unsafe to the environment Use of pesticides and hormones in agriculture Management of natural resources Steps taken on engaging in lawful disputes between businesses, employees, consumers and other parties affected Quality of drinking water
Workplace Laws Identified Labor Relations Laws Health and Safety Laws Give employees the right to organize and collectively bargain with their employers Collective bargaining is negotiating the terms of employment between an employer and group of workers Established to eliminate illness and injury in the workplace Employers are to maintain a safe work environment and properly train workers to handle the potential hazards of their job
Workplace Laws Identified Compensation and Benefits Laws Equal-Employment Opportunity Laws Cover fair wages and benefits for employees Minimum wage legislation would be under this area Ensure all workers are given an equal opportunity for employment Prevents worker discrimination based on age, gender, race or religious beliefs Protects from unjust firing, unfair job assignment, unequal pay and denial of a promotion Monitors any unwanted sexual attention known as sexual harassment
Consumer Protection Laws • Keeping people safe from harmful products • Product recalls are used to remove unsafe products from the market until the product becomes safer or a new batch of product replaces it
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