Business law plays an integral part in both our personal and professional lives. A solid grasp of essential business law concepts is critical for the successful navigation of complex and diverse business environments. You will assess relevant legal issues as well as apply the discipline-specific knowledge necessary to successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry regulations, as well as to effectively communicate issues and facts to peers and professionals
The final project represents an authentic competency, as you will have the opportunity to present your analysis of the legal and ethical issues involved in three hypothetical business scenarios as well as to evaluate and make recommendations to avoid such issues in the future.
This assessment addresses the following course outcomes:
Apply the law regarding business relationships, such as agency law, partnership, and corporate law as strategies for appropriate and effective business management
Analyze issues of real and personal property as they pertain to business formation and management
Determine the legal rights and duties of the parties to commercial paper for their impact on fundamental business operations
Analyze the rights and duties of the parties in credit transactions, including secured transactions and bankruptcy law, as they apply to fundamental business operations
Evaluate the impact of government regulation on business practices for strategic and compliance purposes
The final project for this course consists of two milestones and the final project submission. Milestones One and Two take the form of short answers crafted in email format from the perspective of a corporate attorney making recommendations to a client. For Case Studies 1 and 2, craft a professional email for each, appropriate in format, tone, and content, to send to your clients Fred and Sally, with your preliminary thoughts on the issues within. Your emails should illustrate the issues and relevant law, apply the facts, and support your conclusions with regard to each issue. Always remember to be clear, kind, and professional in your communications. The third element, Case Study 3, will be a short, 2–3-page essay in APA format that will require you to independently issue-spot as well as provide a factual analysis of relevant law and recommendations. You will receive feedback on both milestones and the initial element of Case Study 3. Make any necessary revisions and then include them all in the final submission, where you will label them as Case Study 1, 2, and 3
Case Study 1
Fred is well known in his town for his homeopathic cough syrup. After years of encouragement, he has decided to take his miracle cough remedy to market as “Fred’s Miracle Cough Syrup.” While his cough syrup is homeopathic, one of the key ingredients causes a severe reaction when taken in conjunction with aspirin. Fred plans to make and bottle his cough syrup in an outbuilding on the family farm. His son, Sam, has been raving to the locals about his father’s cough syrup for years, and the local drug store and grocer have contacted Fred to place orders as a result. Sam also intends to approach several national chains in an effort to secure supply contracts for Fred’s cough syrup. Fred has asked Sam to assist him with deliveries, as Sam has a van. Fred would like Sam to be involved with the business as an employee initially, with the option of making him a partial owner at a later time. Fred and his wife Sally have two children, Sam and Lilly. Both live in cabins on the family farm with their spouses and children. Fred and Sally engage you as their attorney to assist with the formation of the new business, including determining the appropriate business entity type, management issues, product liability issues, and estate planning for both the business and family property. After your initial meeting, you identify and research the following issues.
Specifically, the following critical elements must be addressed: