Role and Function of Law
Travis J. Beasley
LAW/ 421 Version1
Contemporary Business Law
Role and Functions of Law
Mrs. Safiya Byars
The United States Constitution states in Article VI that the Constitution, and all laws made under it, “shall be the supreme Law of the Land”. These laws affect all persons and entities on a daily basis. In business law is often used in larger businesses to make sure the company stays in compliance with all the states laws. Large companies often keep what is called “in-house” counsel on the payroll in a position such as vice president or general counsel because of “extraordinary regulatory burdens such as complying with the securities or patent laws” (melvin, 2011, p. 7). Depending on the size of the company the general counsel may also have additional attorneys that he or she supervises. Other companies may just have a lawyer on retainer to advise them in business ventures or legal paperwork such as an acquisition. “These attorneys devote a significant amount of their professional time to advising businesses on issues such as formation, governance, labor and employment laws, regulatory agency compliance, legal transactions, intellectual property, and other legal issues important to business operations”. These lawyers focus on business and rarely perform other task. “Law firms vary greatly in size from one or just a few lawyers in a local or regional practice, to those firms that have hundreds of lawyers spread throughout the globe” (melvin, 2011, p. 7).
In the case of Cipollone vs. Liggett, the plaintiff, Cipollone, filed a lawsuit against tobacco manufacturer Liggett for violating New Jersey State statutes dealing with consumer protections (Melvin, 2011). The case was heard by the United States Supreme Court because of the contention that the New Jersey statutes were in conflict with United States federal law. The authority of the Court to hear a case of conflict between federal and state laws was spelled out in the case titled Marbury
LAW/ 421 Version1
Contemporary Business Law
Role and Functions of Law
Mrs. Safiya Byars
The United States Constitution states in Article VI that the Constitution, and all laws made under it, “shall be the supreme Law of the Land”. These laws affect all persons and entities on a daily basis. In business law is often used in larger businesses to make sure the company stays in compliance with all the states laws. Large companies often keep what is called “in-house” counsel on the payroll in a position such as vice president or general counsel because of “extraordinary regulatory burdens such as complying with the securities or patent laws” (melvin, 2011, p. 7). Depending on the size of the company the general counsel may also have additional attorneys that he or she supervises. Other companies may just have a lawyer on retainer to advise them in business ventures or legal paperwork such as an acquisition. “These attorneys devote a significant amount of their professional time to advising businesses on issues such as formation, governance, labor and employment laws, regulatory agency compliance, legal transactions, intellectual property, and other legal issues important to business operations”. These lawyers focus on business and rarely perform other task. “Law firms vary greatly in size from one or just a few lawyers in a local or regional practice, to those firms that have hundreds of lawyers spread throughout the globe” (melvin, 2011, p. 7).
In the case of Cipollone vs. Liggett, the plaintiff, Cipollone, filed a lawsuit against tobacco manufacturer Liggett for violating New Jersey State statutes dealing with consumer protections (Melvin, 2011). The case was heard by the United States Supreme Court because of the contention that the New Jersey statutes were in conflict with United States federal law. The authority of the Court to hear a case of conflict between federal and state laws was spelled out in the case titled Marbury
References: Laws Every Small Business Needs to Know | Legal > Commercial Law from AllBusiness.com. (n.d.). Small Business Advice | Business News & Articles | AllBusiness.com. Retrieved November 26, 2012, from http://www.allbusiness.com/legal/laws-government-regulations-business/385-1.html Melvin, S. P. (2011). The legal environment of business: a managerial approach : theory to practice (1e ed.). New York: McGraw-Hill/Irwin.