Business, Workers and the Law
• Chapter 5.1 – P. 106
• Define Key Terms
• Read Section 5.1
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
In this section:
There are six areas of law that affect businesses. This section
discusses:
• Corporate Law
• Tax Law
• Intellectual Property Laws
• Consumer Law
• Commercial Law
• Licensing and Zoning Law
Copyright © Glencoe/McGraw-Hill
Slide 3 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
What You’ll Learn
• The six different kinds of laws that affect business operations.
• The advantages and disadvantages of setting up sole
proprietorships, partnerships, and corporations.
• How the FTC protects consumers from unfair business practices.
• The essential elements of contracts in business.
Copyright © Glencoe/McGraw-Hill
Slide 4 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Why It’s Important
For businesses to succeed and avoid illegal activities, managers
must be familiar with the laws regulating business operations.
Copyright © Glencoe/McGraw-Hill
Slide 5 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Key Terms
• regulations
• sole proprietorship
• partnership
• corporation
• income tax
• property tax
• patent
• trademark
• copyright
• contract
Copyright © Glencoe/McGraw-Hill
Slide 6 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Three Kinds of Business Ownership
• Sole Proprietorships
• Partnerships
• Corporations
Copyright © Glencoe/McGraw-Hill
Slide 7 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Tax Law
• Income Tax
• Property Tax
• Withholding Federal Taxes
Copyright © Glencoe/McGraw-Hill
Slide 8 of 11
• Consider this: Stan and Linda have a perpetual
garage sale business. They buy and sale used items,
like clothing, furniture, and tires, under an awning in
their front yard.
• What are you thoughts…
• What government regulations are probably being
violated?
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Intellectual Property Laws
• Patents
• Trademarks
• Copyrights
Copyright © Glencoe/McGraw-Hill
Slide 10 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Consumer Law
Consumers are protected from unfair business practices by
government agencies.
• Federal Trade Commission
• Food and Drug Administration
Copyright © Glencoe/McGraw-Hill
Slide 11 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Commercial Law
• Contracts
• Business Sales Contracts
Fig 2-1
Copyright © Glencoe/McGraw-Hill
Slide 12 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Licensing and Zoning Law
1. Licensing limits and controls certain types of businesses.
2. Building codes regulate physical features or structures of
buildings.
3. Zoning regulates where businesses can be located in a
community.
Copyright © Glencoe/McGraw-Hill
Slide 13 of 11
GLENCOE
BUSINESS MANAGEMENT
Real-World Applications & Connections
Section
5.1
Laws that Regulate Businesses
Fact and Idea Review
1.
2.
3.
4.
5.
How can the government enforce its regulations against
businesses?
List three types of business ownership.
Why should businesses be concerned about taxes?
What kind of intellectual property law protects an invention? A
soft drink’s logo? A hit movie?
True or False: Consumer protection laws apply to both
individuals and businesses.
Copyright © Glencoe/McGraw-Hill
Slide 14 of 11
• What do you think life would be like if
government did not regulate business in any
way?
• In teams of 3, create a study guide using key
terms, legal definitions, and other vocabulary in
matching worksheets, crosswords, flash cards
and etc. We will share them with the class.
• Headings into questions