BUS 311 Business Law 1 – Week 4 Discussions

Real, Intellectual, and Personal Property. List two characteristics each of real, intellectual, and personal property. Do owners of real, intellectual, and personal property each have the same rights under the law? List how each type of property is treated under the law. Explain why it is in the best interest of society to treat these types of property the same or differently.

Business Ethics. Read the article Governance in the Spotlight: What Sarbanes Oxley means to You. In this article the author outlines provisions companies are now required to implement. Consider the requirements imposed by Sarbanes Oxley on corporate boards of directors. Do small businesses and privately held companies have ethical duties? If so, to whom would they owe this duty? Employees? Customers? Vendors?

Should the law impose ethical requirements on small businesses or privately held companies or can the marketplace police unethical business behavior? Provide support to justify your position.