Ch.1 Law as a Foundation for Business
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Establishes the framework of the state whose purpose is to protect the property in its broadest sense.
Administrative and Regulatory Law
Concerns public laws that protect, tax, regulate, or redistribute an owner's resources.
Provides public protection for private resources and punishes those who harm them.
Protects and compensates owners through private civil lawsuits when their resources, including those they have in themselves, are wrongfully harmed by the actions of others.
Law of Business Organizations
Identifies how individuals can own and use resources in groups. Includes corporate governance.
Determines how resources, including labor, are exchanged between owners.
The legal right to exclude others from various resources. Also called "ownership."
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