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Functions and role of law in business/society

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Resource: Case Brief Cipollone v. Liggett Group, Inc., "Commerce Powers," (see attached)

Define the functions and role of law in business and society. Discuss the functions and role of law in your past or present job or industry. Properly cite at least two references and format paper in APA format

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Functions and Role of Law in Business/ Society:

Within the society today, the law is known to play a significant role when it comes to the successful operation of a business. The manner in which individuals operate socially which contributes to the efficient running of the society depends on the laws which are put in place to provide regulation.

Various standards of ethics and the relevant expectations are used in the provision of the rules of conduct and at the same time measurement of the various rules to ensure that any forms of wrangles which are in existence are settled. The laws available within our society and the business environment therefore used in ensuring peace, governing the power than an individual may have and promoting his or her level of personal freedom, facilitating the act of planning and realizing any reasonable expectations, enhancing free competition within industries and ensuring the protection of the environment (Dienhart, 1995).

Diverse effects such as the existence of an unbearable economy and an ineffective performance of the economy is considered to be some of factors which could be noticed if there were no laws existing to ensure the governance of action of the members of the society as well as the existing businesses. As a result of the complexity of the legal system available in countries such as the United States, breaking down of the system for an easy understanding is considered ...

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The functions and roles of law in business/society is determined.

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