Discuss Legal Considerations in Operations 5.01

Discuss the overall purpose of operations regulations  Companies of any size cannot do business with having to be aware of the legal, government and regulatory issues that affect them.

Identify the role of federal and state governments in the regulation of business operations  The U.S. government has set many business regulations in place to (1) protect employees' rights, (2) protect the environment and (3) hold corporations accountable for the amount of power they have in this business-driven society. Some of these regulations stand out more significantly than the others because of their relevance to every U.S. employee and consumer

Local Governments  Local government entities, including towns, cities and counties, also regulate businesses. Typically, local governments regulate either by requiring licenses and permits for operation or by imposing their own local sales tax, much like a state sales tax. Again, if you have a physical business location, such as an office, retail unit or restaurant, you will need to check with the city and county business departments for specific regulations.

Industry-Specific Regulations  Every industry is regulated differently, and you need to become familiar with the regulations specific to your industry. For example, real estate brokers need to be aware of the state laws governing real estate transactions, while restaurant owners need knowledge of local health department regulations.

Intellectual Property  Intellectual Property (IP) Definition IP is the result of the creation of the brain or the mind, which is then manifested or interpreted in a form that has a physical existence and possesses exclusive property rights. Examples include images, symbols, names, designs, industrial processes and business methods used in commerce; inventions; artistic, literary and musical works; and software.

Copyright law  Copyright law allows the copyright owner to copy his/her work as he desires and to legally prohibit others from doing so, and also from displaying, using, distributing, performing and/or licensing his/her work product for a specific period of time  Generally speaking, fair use allows individuals to reproduce copyrighted material only for narrow and specific purposes which include criticizing or critiquing; commentary and news reporting; research and scholarship; nonprofit educational uses; and ridiculing or satirizing as in a parody of a copyrighted work.

Patents and Trademarks  A patent is the grant of an exclusive property right to the inventor for the benefits of an invention or improvement, granted by the U.S. Patent & Trademark Office (USPTO), for a specific period of time.  A trademark is a distinctive word, phrase, slogan, name, graphic symbol, picture, emblem, device, design, logo or any combination thereof which is used in commerce to identify and distinguish a company’s products or services from that of another company and to indicate the source of the goods or services.

Consumer Protection Laws  This legal area encompasses a large body of laws enacted by the government to protect consumers by regulating many of the following business transactions and practices: advertising, sales and business practices; product branding; mail fraud; sound banking and truth in lending; quality produce and meats; housing material and other product standards; and all manner of other types of consumer transactions. Some states also regulate door-to-door sales, abusive collection practices and referral and promotional sales.

Uniform Commercial code  The purpose of the UCC is to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.  Specifically: sales of goods, leases, bank deposits, warehouse bills of lading, investment securities, auctions, liquidations

Partner Activity- Make a poster  Pick an industry below and research the regulations associated with that industry 1. Healthcare- Hospital, Nursing Homes, Doctor/Dentist 2. Manufacturing- Automotive, textile, furniture 3. Restaurant/Food Service- Fast food, Catering, Restaurants, Public Cafeterias 4. Transportation -Trucking, Airlines, Train, Ships 5. Education system-Public, Private, College 6. Agriculture-Farming, Cattle, Poultry 7. Banking/Finance – Commercial Lending, Stock Market, Banking Services 8. Construction-Commercial, Residential, and Civil