Business Torts, Real and Intellectual Property

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Table of Contents

Introduction
Law in Business
Tort Law and Business
Benefits of learning Tort Law
Conclusion
Axia College Material
References

Introduction

The day-to-day transactions that take place in business involve people. Additionally, the business has come out as a dominant social institution in society and as a result, it has evolved as an institution that controls significant social assets and hence wields overwhelming financial power. As a result, business institutions are obligated to exploit their powers for the benefit of society as a whole. However, when businesses turn out to use the powers they have irresponsibly they end up losing the power or the powers are reduced by regulation and law (Wines, 2006, p.45).

Law in Business

Law has been utilized in business activities which in its sense constitute a set of rules that govern business. Good laws should promote justice which is a moral goal for any society. Though laws may be related to moral goals, what is considered legal may necessarily not be the same as what is right, and from this, the law is viewed as the minimum standard of behavior in any society whereby failure to conform to these minimum standards results in civil sanctions or criminal penalties. As social and environmental norms change, business as an institution is not insulated; private legal relationships are recognized as the components which dominated the business legal environment (Meiners, Ringleb and Edwards, 2008, p.124).

Business law has evolved to concerns itself with the rights and obligations of different parties to each other in business formation and many business working relationships. Moreover, the business environment is characterized by contracts that are created both in domestic and international sale of goods and these contracts have formed key constituents of business relationships (Meiners, Ringleb and Edwards, 2008, p.124); and to make these contracts successful and realize their goals, credit is often extended and numerous forms of negotiable mechanisms are usually used.

Tort Law and Business

Tort law is the most area of this course that is valued and appreciated. The tort may simply be described as a harmful civil act done by a person against another and may include trespassing or injury to another person or his property. When a tort takes place the law provides for a solution whereby liability is imposed for conduct that unjustly interferes with the interests of another person (Meiners, Ringleb and Edwards, 2008, p.127).

Business torts constitute wrongful interference with the business rights of others and in many cases, they include concepts such as; unfair competition and wrongfully interfering with the business relations of another. Business gets involved in a tort in three circumstances: 1) when an individual is harmed by the actions of another business or person; 2) an individual is harmed by the actions of a business or its employees; and 3) an individual is harmed by a product manufactured or circulated by the business.

Benefits of learning Tort Law

Tort law is concerned with compensation for damages incurred in form of injury to another party. The experience derived from learning Tort law is that injuries or damages to property rights are also recognized by the law and subsequent remedies made hence interests in prospective future economic advantages from signed agreements can also be injured and become the subject of tort actions (Steele, 2007, p. 491). The dynamism being experienced in the business world and suspension of business ethic values by many corporations prompts anyone with interest in the business to acquire knowledge of torts to fit well in the future business environment.

Conclusion

Business laws continue to ensure there is sanity in business and that any wrongful act has consequences on the person initiating, promoting, or overseeing the act. Of great importance to the business is the tort law which in essence is private, and the aim of the law according to Alaska Supreme Court is to put the injured party, as nearly as possible in the position he or she would have occupied had it not been for the defendants tort (Meiners, Ringleb and Edwards, 2008, p.127).

Axia College Material

Differentiate between intentional torts against persons, intentional torts against property, and torts based on negligence. Use the text book to help you find answers.

Example	Check box for each example under the category that fits it best	Intentional Torts Against Persons	Intentional Torts Against Property	Torts Based on Negligence
1	Trespassing		Shape 1
2	Invasion of privacy	Shape 2
3	Causation			Shape 3
4	Duty of care			Shape 4
5	Using trademarks, trade secrets if bought from a thief		Shape 5
6	Use of persons name or photo without permission	Shape 6
7	Assault and battery	Shape 7
8	Infliction of emotional distress	Shape 8
9	Drug dealing or an illegal gambling establishment next door			Shape 9
10	Pointing a gun or swinging a club			Shape 10

Matching Tort Exercise*

References

Meiners, R. E., Ringleb, A. H. and Edwards, F. L. (2008). The Legal Environment of Business. OH, Cengage Learning. Web.
Steele, J. (2007). Tort Law: Text, Cases, & Materials. NY, Oxford University Press. Web.
Wines, W. A. (2006). Ethics, law, and business. NY, Routledge. Web.

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