1. The Legal, Ethical, and Regulatory Environment of Business
By Fisher and Phillips
Prepared by Jimidene Murphey

2. The Law: Legal and Business Ethics
Chapter 1
The Law: Legal and Business Ethics

3. The Meaning, Nature, and Limits of Ethics
Jurisprudence
The study of legal ethics
Business ethics
Values that the business community uses to determine proper conduct
Ethics (deontology)
The study of conduct that is right, good, and moral in a set of circumstances

4. Nature - A Priori Ethics are ultimate values Ethics self-justify
Ethics sometimes conflict

5. Ethic of Positive Law Positive law consists of a rule…
from a political superior to a political inferior, which the inferior obeys…
with sanctions imposed if the rule is broken.

6. Characteristics of Positive Law
Command element
No requirements on the type of ruler
Habitual obedience to the rules is expected
Generally advances constructive goals
Can be moral, amoral, or immoral

7. Why Empirically-based Law is Dominant
The lack of trust in our society
Cultural pluralism
Legalizing all areas of society
Massive noncompliance with positive law
Failure to keep our promises
Lack of personal responsibility
Rewardable cheating
Passing of laws to resolve problems

8. Justice as Ethics
Natural law
Due process
Equity courts

9. Prominent Names in Jurisprudence
Plato
Sir William Blackstone
John Rawls
Immanuel Kant
Eugene Ehrlich
Sigmund Freud
Jerome Frank
Jeremy Bentham

10. Ethics Influencing Law
Ethics of custom
Ethics of norms of conduct
Ethics of reality
Ethics of civilization
Ethics of utility

11. Business Ethics
Values that a business follows in conducting its affairs
Examples of business ethics
Make a profit
Deliver best products for best price
Provide workers with jobs
Give owners return on investment
Be a good citizen

12. Objectives of Law Justice Flexibility Speed Stability Economy
Knowability

13. Why Study the Law? Cutting edge of society
Business environment is increasingly legalized
Businesspeople should practice preventive law

14. Recap - Terms to Know Ethics Jurisprudence Justice and power Custom
Sociological school of jurisprudence
Ethics of civilization
Legal realism
Ethical utilitarianism
Business ethics