I need help with a Business Law question. All explanations and answers will be used to help me learn.
When they are young, most people begin to learn the very basics of right and wrong, and that understanding eventually progresses into knowledge of acts that are legal and illegal. Many people, however, may be unaware that there are many laws governing organizations and how they are able to conduct business. Just as an individual can be prosecuted for illegal acts such as theft or fraud, so can companies. If you were to start your own company, would your current understanding of legal and illegal business practices sufficiently help your organization avoid risk? How important do you think it would be to bring in a legal advisor to ensure that you were following all local, state, and federal regulations (if applicable) for your business? What are the advantages of knowing the law as a business owner?
In this Discussion, you will identify two business-related crimes—a felony and a misdemeanor. You will provide examples and describe consequences of each. Additionally, you will consider how an understanding of criminal law can be an asset for business owners.
To prepare for this Discussion:
- consider the differences between misdemeanors and felonies.
- Consider how a greater understanding of the law might benefit a business owner (e.g., avoiding or preventing illegal acts and avoiding consequences by adhering to the law).
- Identify two business-related criminal acts to discuss. One act should be a misdemeanor and the other should be a felony.
Post a 150- to 225-word (2- to 3-paragraph) description of two business-related criminal acts—one a misdemeanor and one a felony. In your explanation, address the following:
- Define each criminal act, including whether it is a felony or misdemeanor, and the actions involved in committing the act.
- Provide at least one specific example of each type of criminal act.
- Describe the possible consequences for the commission of each crime.
- Explain how business owners can benefit from having a thorough understanding of the criminal acts you described, as well as any negative impacts that could ensue from a lack of understanding (or refusal to follow the law).
- Include references to a minimum of two scholarly sources to support your response.