Why do you need to have a basic understanding of law when working in business? You need to understand enough about the law to make educated decisions to avoid risks and keep your business out of trouble.
You need to understand your rights and the rights of your customers, employees, investors, your peers, and those of your vendors and suppliers—all within the context of Canadian law and sometimes international law.
You also need to know how to leverage the law for the best business outcomes. This is particularly important in contract law. You need to understand your risks and potential impacts of contract clauses.
From the finance and accounting perspective, or as a senior executive or member of a board of directors, you need to understand what you are responsible for and liable for in terms of financial reporting, dealing with investors and regulatory agencies.
For this assignment you will apply your learning from weeks 1 through 5 of this course, including your readings from the textbook and self-directed research.
Your learning activities will help you reach the following learning objectives:
• Understand how having a knowledge of the law can help you as a business person
• Have a basic knowledge of the Canadian law system and processes work
• Be able to identify business risk within the legal context
• Be aware of the avenues available for conflict/dispute resolution related to business and contracts
Supporting information needed to complete this assignment is provided in your textbook, your course reading list, and self-directed research using online resources.
This assignment includes four parts:
• Part 1: Law in the context of business
• Part 2: The Canadian law system
• Part 3: Understanding and mitigating risk in business
• Part 4: Dispute Resolution in business
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