Function and role of law in Business and Society
Law is defined as a body of rules of action or conduct prescribed by controlling authority, and having legal binding force. (Melvin, The Legal Enviroment of Business, 2011). Laws main purpose is to create and hold order, helps there be perseverance to problems, and protects the wellbeing of peoples individual and company rights.
Law plays a huge part in the way companies and society is ran. It helps to conduct everyday business operation and function of people. The laws assist with giving both business and society away to function among each other.
For example it helps to keep the business workers in a company on the same page within things like; when it comes to how they treat each other, how to conduct themselves with in the office, and overall work priorities.
If there weren’t any laws then there wouldn’t be any standards for people to look to. It would be a worse dog eat dog world then it is now. Those who need protecting from the overly power house businesses or workers wouldn’t survive. No structure it all comes down.
The different areas of law help to regulate the different parts of society and business. They give a definition to how things should be. Laws are broken down in different categories in order give a more out lined and structure to the different situations. (Just to outline a few)
Criminal Law for instance purpose is to regulate crime. Its goal is to keep offenders from committing harm to others in ways of physical or mental harm. It doesn’t allow them to get away with it. When a criminal law is broken the offender is punished. On the other side of criminal law is civil law. This law goal is to reward the victim with some kind of compensation for the damages that was done to them. Once they have that then punishment if needed is handed to the offender. (Melvin, 2011)
Public Law covers different areas of law all in one. They are constitutional, administrative, criminal...