{"id":223,"date":"2021-10-11T00:01:00","date_gmt":"2021-10-11T04:01:00","guid":{"rendered":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-1800-intro-to-business-professor-buckler-fall-2021\/?page_id=223"},"modified":"2023-07-12T20:15:00","modified_gmt":"2023-07-13T00:15:00","slug":"unit-6-course-materials","status":"publish","type":"page","link":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/units\/unit-6-course-materials\/","title":{"rendered":"Unit 6 Course Materials"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\" id=\"block-54e37110-5eb1-4cb8-b6f2-3701006fdc3a\">Welcome to&nbsp;<strong>Unit 6: Legal Environment<\/strong>! In this unit, we will explore how the legal system shapes the business environment. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"block-54e37110-5eb1-4cb8-b6f2-3701006fdc3a\">We will learn the purpose and meaning of law and learn to differentiate between statutory, common, and tort law. We will discuss product liability and warranties and how these impact how a business operates. We will define intellectual property and identify why patents and trademarks are so important to organizations. We will review the purpose of contracts and discuss repercussions for organizations and partners for failure to deliver on agreed-upon contractual terms, and summarize the importance of business law.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"block-4f14c311-9dd2-4fa5-b809-7d8da8d4ced1\"><strong>By the end of this unit, you should be able to:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Define law<\/li>\n\n\n\n<li>Explain the purposes of law &amp; \u201crule of law\u201d<\/li>\n\n\n\n<li>Define statutory law and common law<\/li>\n\n\n\n<li>Explain the three major bases for product liability claims<\/li>\n\n\n\n<li>Differentiate between compensatory and punitive damages<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>In order to successfully complete this unit, you\u2019ll need to do the following:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1. Read this Open Educational Resource (free to access):&nbsp;<strong><a href=\"https:\/\/courses.lumenlearning.com\/wmopen-introductiontobusiness\/chapter\/why-it-matters-legal-environment\/\" target=\"_blank\" rel=\"noreferrer noopener\">Module 5: Legal Environment<\/a><\/strong>\u00b9<br><em>Please note: you do not need to complete the activities listed in this resource.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2. Watch&nbsp;<a href=\"https:\/\/www.youtube.com\/watch?v=Ch9LPTtIwaI\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>this video<\/strong><\/a>&nbsp;from the Study.com (also embedded below) about US money &amp; what makes money valuable<sup>2<\/sup>:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"What is Business Law: Definition and Overview\" width=\"625\" height=\"352\" src=\"https:\/\/www.youtube.com\/embed\/Ch9LPTtIwaI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">As always, if you need more information, you can <strong><a rel=\"noreferrer noopener\" href=\"https:\/\/openlab.bmcc.cuny.edu\/groups\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/forum\/topic\/ask-a-question-12\/\" target=\"_blank\">ask me a question<\/a><\/strong>. For information on due dates, check our <strong><a href=\"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/about-this-class\/schedule\/\">Course Schedule<\/a><\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Sources:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><sup>1<\/sup>CC LICENSED CONTENT, ORIGINAL Revision and adaptation.&nbsp;<strong>Authored by<\/strong>: Linda Williams and Lumen Learning.&nbsp;<strong>License<\/strong>:&nbsp;<em><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/creativecommons.org\/licenses\/by-nc-sa\/4.0\/\">CC BY-NC-SA: Attribution-NonCommercial-ShareAlike<\/a><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><sup>2<\/sup><a href=\"https:\/\/www.youtube.com\/channel\/UCixRv4BVgl-O1mCN2DjHuuQ\">Study.com<\/a> via YouTube <strong>What is Business Law: Definition and Overview. <\/strong>https:\/\/www.youtube.com\/watch?v=Ch9LPTtIwaI <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Welcome to&nbsp;Unit 6: Legal Environment! In this unit, we will explore how the legal system shapes the business environment. We will learn the purpose and meaning of law and learn to differentiate between statutory, common, and tort law. We will discuss product liability and warranties and how these impact how a business operates. We will [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":0,"parent":35,"menu_order":6,"comment_status":"closed","ping_status":"closed","template":"","meta":{"portfolio_post_id":0,"portfolio_citation":"","portfolio_annotation":"","openlab_post_visibility":"","footnotes":""},"class_list":["post-223","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/pages\/223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/users\/1403"}],"replies":[{"embeddable":true,"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/comments?post=223"}],"version-history":[{"count":8,"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/pages\/223\/revisions"}],"predecessor-version":[{"id":1657,"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/pages\/223\/revisions\/1657"}],"up":[{"embeddable":true,"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/pages\/35"}],"wp:attachment":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/bus-104-e052-intro-to-business-professor-buckler-summer-2023\/wp-json\/wp\/v2\/media?parent=223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}