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= Business Law = Teacher: Janne Jokinen Type of course: [[:Category:Mandatory courses in GloBBA|Mandatory course in GloBBA]] in [[:Category:Law|Law]] Course code: Unknown Part of [[:Category:Developing Entrepreneurial Competencies|Developing Entrepreneurial Competencies]] (BUS1LF001) Course material: Access to Finnish Law by Aapo Surakka, ISBN 978-951-0-33696-0. Published by SanomaPro. '''Note:''' Also available as an e-book. ---- '''Commercial law''', also known as '''[[w:business law|business law]]''' is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. :::It is often considered to be a branch of '''[[w:Civil law (common law)|civil law (common law)]]''' ( [[w:fi:Yksityisoikeus]] ) and deals with issues of both :::::'''[[w:private law|private law]]''' ( [[w:fi:Yksityisoikeus]] myös ) and :::::'''[[w:public law|public law]]''' ( [[w:fi:Julkisoikeus]] ). ( Wikipedia ) '''Obs.''' [[w:Civil law (common law)]] != [[w:Civil law (legal system)]] '''[[w:fi:Yritysjuridiikka|Yritysjuridiikka]]''' ( Commercial law practice ) on kauppatieteellinen tieteenala, jonka tarkoituksena on tutkia [[w:fi:liiketoiminta|fi:liiketoiminta]]a ja sen päätöksentekoa oikeudellisesta näkökulmasta.( Suomenkielinen Wikipedia ) '''[[w:Outline of commercial law|Outline of commercial law article]]''' contains among other things * '''[[w:Outline of commercial law#Branches of commercial law|Branches of commercial law]]''' * '''[[w:Outline of commercial law#By region|commercial laws by region]]''' * '''[[w:Outline of commercial law#History of commercial law|History of commercial law]]''' * '''[[w:Outline of commercial law#Business entities|Types of business entities]]''' * '''[[w:Outline of commercial law#Contracts|Contracts]]''' * '''[[w:Outline of commercial law#Intellectual property|Intellectual property]]''' * '''[[w:Outline of commercial law#Dispute resolution|Dispute resolution]]''' * not to forget '''[[w:Outline of commercial law#General commercial law concepts|General commercial law concepts]]''' ---- == Business Law - Lesson 1 - Introduction == * Choose '''[[w:arbitration]]''' ( [[w:fi:Välimiesmenettely]] ) as preferred method of '''[[w:dispute resolution]]''' especially if dealing with businesses outside of EU * In Finland ( Civil law ) you can be made to pay the legal fees of the winning party. In USA ( common law ) you don't have to. * In [[w:USA]] a company may have to pay '''[[w:punitive damages]]''' ( Rangaistusluonteinen vahingonkorvaus ) whereas in Finland you have to pay only '''[[w:compensation]]''' ( [[w:fi:korvaus]] ) i.e. '''[[w:Damages]]''' ( [[w:fi:Vahingonkorvaukset]] ) * '''[[w:Legal personality]]''' ( [[w:fi:oikeushenkilö]] ) * '''[[w:Capacity (law)]]''' [[w:fi:oikeuskelpoisuus]] ( eri kuin [[w:fi:Oikeustoimikelpoisuus]] ) * A '''[[w:tort]]''' ( [[w:fi:Vahingonkorvausoikeus]] ), in [[w:common law]] jurisdictions, is a [[w:civil wrong]] which unfairly causes someone else to suffer loss or harm resulting in [[w:legal liability]] for the person who commits the tortious act, called a ''tortfeasor''. Although [[w:crime]]s may be torts, the [[w:cause of action|cause of legal action]] is not necessarily a crime as the harm may be due to [[w:negligence]] which does not amount to [[w:criminal negligence]]. '''Levels of negligence''' :* '''Minor negligence''' ( lievä tuottamus, vähäinen huolimattomuus, vähäinen varomattomuus, vähäinen tuottamus ) :* '''[[w:Negligence]]''' ( huolimattomuus, varomattomuus, tuottamus) ( The area of tort law known as negligence involves harm caused by carelessness, not intentional harm. ( Wikipedia ) :* '''[[w:Gross negligence]]''' is a legal concept which means serious carelessness. ( törkeä huolimattomuus, törkeä varomattomuus, törkeä tuottamus )( Wikipedia ) :* '''Willful intention''' ( tahallinen, harkittu ) '''[[w:Corporate law]]''' (also called "company" or "corporations" law) is the study of how [[w:shareholders]], [[w:Board of directors|directors]], [[w:employees]], [[w:creditors]], and other stakeholders such as [[w:consumer]]s, the [[w:community]] and the [[w:environment (biophysical)|environment]] interact with one another. :::Corporate law is a part of a broader '''[[w:companies law]]''' (or law of business associations). ( Wikipedia ) Relevant corporate laws in Finland are * '''[[w:fi:Osakeyhtiölaki]]''' for LTD's and additionally * '''[[w:fi:Suomen arvopaperimarkkinalaki]]''' for PLC's. == Business Law - Lesson 2 - Compensation law, product liability == * '''Compensation law''' :* In law, '''[[w:Damages|Damages]]''' ( [[w:fi:vahingonkorvaus]] ) are an award, typically of money, to be paid to a person as compensation for loss or injury;. ( Wikipedia ) * '''[[w:Product liability]]''' ( [[w:fi:Tuotevastuu]] ) is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. ( Wikipedia ) *'''Consumer complaint''' ( [[w:fi:Reklamaatio]] ) *'''[[w:Contract|Contract]]s''' ( [[w:fi:Sopimus]] ) ( See course '''[[#Business Negotiations and Contracts|Business Negotiations and Contracts]]''' for keys ) ::* Both verbal and written are [[w:legally binding]] ::* '''[[w:breach of contract|breach of contract]]''' ( sopimusrikko, sopimusrikkomus ) can land you and your business in [[w:court|court]]. *'''[[w:Liability|Liability]]''' ( sitoumus, vastuu ) ( '''Obs.''' [[w:Liability (financial accounting)]] and '''[[w:Legal liability]]''' are two distinct things. ) *'''[[w:limited liability|Limitation of liabilities]]''' or full liability *'''[[w:Force majeure]]''' ( [[w:fi:Force majeure]] ) is a common clause in contracts that essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties, such as a war, strike, riot, crime, or an event described by the legal term act of God (such as hurricane, flooding, earthquake, volcanic eruption, etc.), prevents one or both parties from fulfilling their obligations under the contract. ( Wikipedia ) *'''[[w:Legal burden of proof]]''' ( [[w:fi:Todistustaakka oikeustieteessä]] ) and reverse legal burden of proof when there is a contract *''' [[w:Non-disclosure agreement]] ( NDA )''' ( [[w:fi:Salassapitosopimus]] ) ( Maximum 1 yr for workers and 2 yrs for businesses ) ( Teacher ) *'''[[w:Non-compete clause]] ( NCC )''' ( [[w:fi:Kilpailukieltosopimus]] ) Making a contract: :#) Preparatory stage :#) Contract period :#) End of contract *'''[[w:Standard form contract]]''' ( [[w:fi:Vakiosopimus]] ) aka. boilerplate contract :::[[w:Boilerplate (text)]] is any text that is or can be reused in new contexts or applications without being changed much from the original. ( Wikipedia ) '''Protecting [[w:intellectual property]]'''( [[w:fi:Immateriaalioikeus]] ) : #) A '''[[w:patent|patent]]''' (/ˈpætənt/ or /ˈpeɪtənt/) ( [[w:fi:Patentti]] ) is a form of '''[[w:intellectual property|intellectual property]]'''. It consists of a set of '''[[w:exclusive right]]s''' granted by a [[w:sovereign state]] to an inventor or their assignee for a limited period of time, in exchange for the public disclosure of the invention. #) An '''[[w:Utility model]]''' ( small patent )( [[w:fi:Hyödyllisyysmalli]] ) #) A '''[[w:trademark]]''' ( [[w:fi:Tavaramerkki]] ) is a recognizable sign, design or expression which identifies products or services of a particular source from those of others. ( Wikipedia ) == Business Law - Lesson 3 - Contract law == Topics: '''Contract law''' ( [[w:fi:Sopimusoikeus]] ) deals with '''[[w:contract]]s''' * A '''[[w:waiver]]''' ( toimenpiteestä luopuminen ) is the voluntary relinquishment or surrender of some known right or privilege. ( Wikipedia ) * '''[[w:Good faith]]''' ( [[w:fi:Bona fide]] ) - In [[w:law]], '''bona fides''' denotes the mental and moral states of honesty and conviction regarding either the truth or the falsity of a proposition, or of a body of opinion; likewise regarding either the rectitude or the depravity of a line of conduct. ( Wikipedia ) * '''[[w:Labour law]]''' (also called '''labor law''' or '''employment law''') ( [[w:fi:työoikeus]] ) is the body of laws, administrative rulings, and precedents which address the legal rights of, and restrictions on, [[w:working people]] and their organizations. ( Wikipedia ) * In contract law, '''[[w:rescission]]''' ( [[w:fi:purkaminen]] ) has been defined as the unmaking of a contract between parties. :: Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the [[w:status quo]] ante). ( Wikipedia ) * '''[[w:Collective bargaining]]''' ( kollektiivinen neuvottelu ) is a process of negotiations between employers and a group of employees aimed at reaching agreements that regulate working conditions. ( Wikipedia ) == Business Law - Lesson 4 - Consumer law, companies law == Topics: Contract law continues, marketing and Consumer Law ( redirects to [[w:Consumer protection]] ), Companies law *'''[[w:Consumer protection]]''' ( [[w:fi:Kuluttajansuojalaki]] ) it consists of laws and organizations designed to ensure the rights of consumers as well as fair trade competition and the free flow of truthful information in the marketplace. ( Wikipedia ) * '''[[w:Articles of association]]''' ( [[w:fi:yhtiöjärjestys]] ) is a document which, along with the memorandum of association (in cases where the memorandum exists) form the company's constitution, defining the responsibilities of the directors, the kind of business to be undertaken, and the means by which the shareholders exert control over the board of directors. ( Wikipedia ) * '''Redemption clause''' ( [[w:fi:Lunastuslauseke]] ) can be used to fend off [[w:hostile takeover]]s. * A '''[[w:shareholders' agreement]]''' (sometimes referred to in the [[w:United States|U.S.]] as a stockholders' agreement) is an agreement amongst the [[w:shareholder]]s of a [[w:company]]. ( Wikipedia ) * '''[[w:Preferred stock]]''' (also called preferred shares,preference shares or simply preferreds) ( [[w:fi:etuoikeutettu osake]] ) is an equity security with properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. ( Wikipedia ) * '''[[w:Convertible bond]]''' or a '''convertible note''' ( [[w:fi:vaihtovelkakirja]] ) (a convertible debenture if it has a maturity of greater than 10 years) is a type of [[w:bond (finance)|bond]] that the holder can convert into shares of [[w:common stock]] in the issuing [[w:types of companies|company]] or cash of equal value, at an agreed-upon price. ( Definition ) == Business Law - Lesson 5 - Wrap up == Topics: [[w:Company law]] continues, wrap-up == Business Law - Exam == Final examination ----
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