Business Law Archive

Basics of Legal Professional Privilege

Legal professional privilege (LPP) is the fundamental right for clients in litigation to protect confidential communications with their lawyers from disclosure in court. Historically, it is almost universally acknowledged that this right is crucial to …

What is a Breach of Obligation

An obligation is an act or course of action to which a person is legally or morally bound. Most of these may be more moral than legal but they are not objective, in other words …

Us Health Care

What to do about health care is a controversial topic in the US. President Obama has made health care reform as one of the most important parts of his presidency. With the recent Supreme Court …

The Reasoning behind Anti Trust Laws

Competition is the cornerstone of a free market society.  Because of competition, inventors of new products are encouraged to innovate and to produce their wares for consumers at prices that are affordable and fair.  Most …

Antitrust Laws

With the onset of the Industrial Revolution in the late 1880s wealth and power in America consolidated. From what were once small family business across the County sprang giant corporations that controlled the most important …

What is the Usefulness of Anti Trust Laws

In an economy driven by supply and demand, many players can use various methods to manipulate and reorient market trends towards gaining an unfair edge over their competitors. The market economy is usually dependent on …

How to Deal with Disputes Involving Family Owned Businesses

Owning or working in a family-owned business may be the ideal employment and financial situation for some individuals. But common disputes involving family-owned businesses can lead to family discord as well as the potential for negatively affecting the business, possibly resulting …

What is the Pollution Prevention Act of 1990

The world has been contaminated by many things: crime, corruption, apathy, epidemics, pandemics and pollution. The decline of civilization hasn’t been a pretty sight. Theodore Roosevelt reached out to unborn generations. He was responsible for …

What is the Export Trading Company Act of 1982

The Export Trading Company Act (1982) was enacted to protect joint activities by American export trading companies by allowing these companies to apply for a limited anti-trust exemption. This is intended to encourage the formation …

Unclaimed Money Understanding Escheatment Laws

Initially when people hear the words “seized funds” they immediately panic. However, Escheatment laws are in fact the process of states seizing unclaimed financial accounts. In fact, the escheatment laws are in place to protect …

Limited Liability Company

A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Additionally, …

A brief Summary of International Trade Law

International trade law refers to the complex network of national legislation and international agreements which govern commerce between countries. The most important international trade law regime is the set of institutions and rules overseen by …

A legal comparison of negligence and intentional tort

Tort law, which covers situations in which one person is wrongfully harmed or injured by another person (or organization), divides wrongdoing into intentional torts and unintentional ones, which usually take the form of negligence. The …

Functions of the World Trade Organization

The World Trade Organization, which today includes all major world economies, has humble beginnings but a rich history. Prior to the current era of free trade, international commerce was heavily regulated and profit from tariffs, …

Functions of the World Trade Organization

The World Trade Organization (WTO) is the largest multilateral trade organization in the world. It has two basic functions. First, it promotes new trade agreements which reduce tariffs, subsidies and other barriers to international trade …

An Explanation of the Elements of a Contract

You may not be aware of it, but you probably enter into contracts nearly every day. Whether they are formal, informal, oral or multi-page documents, all contracts must have the same five elements to be …

What is an Auditors Limited Liability Agreement

The Companies Act 2006 (CA2006) introduced the concept of a liability limitation agreement in respect of auditor’s liability. The relevant provisions have been in effect since the 6th April 2008. It is defined as “an …