Business Law Essay

2043 words - 9 pages

Riordan Corporate Compliance Plan

LAW/531

June 11, 2012
James Mc Phail

Riordan Corporate Compliance Plan
Riordan Manufacturing, Inc.

Riordan Manufacturing is a global and international company that produces and sells plastic parts for the beverage manufacturing industry, automotive industry, aircraft manufacturers, and fan manufacturers. Riordan owns four major facilities in the United States Albany, Pontiac, Michigan, and Georgia. In addition, one joint venture located in China, in the town of Hangzhou. Riordan headquartered in San Jose, California is responsible for the creation of new designs, research, and development. The company employs 550 people worldwide, ...view middle of the document...

Riordan should use whenever possible the Alternative Dispute Resolution (ADR) mechanism to resolve disputes and conflicts. By using the ADR, Riordan will reduce or avoid risk of litigation. Research states, “to avoid or reduce these problems, businesses are increasingly turning to methods of Alternative dispute resolutions (ADR) and other aids to resolving disputes” (Chessman, 2010, p. 43). The most common ADR used is arbitration. The parties choose an impartial arbitrator usually part of (AAA) to hear and decide the dispute.
“Enterprise liability is a tort doctrine that holds responsible all individuals or entities engaging in a certain unsafe custom liability for any injuries that results from use of that custom” (Johansen Erika, eHow contributor). Riordan expect its directors and Officers to run ethically and responsibly the company. The employees need to understand that they are personally liable of breach of duty if they do not act or manage responsibly. Training of staff can reduce the exposure of many risks and can help correcting employee’s wrongdoing. Continuous training is necessary because laws are changing and Riordan has to keep up to date their employees.
Riordan could be charge with negligence and breach of duty of care if their medical products cause death or injury. For several months (six to eight months), their Pontiac facility has been producing defective product because of quality issues. They should investigate, correct the situation, and recall the products potentially a risk. It is the duty of the board of directors to oversee and manage the risk of the corporation regarding potential liabilities. Riordan has proposed to move their Hangzhou facility to Shanghai within the next five year to reduce cost. Riordan has to review the local laws, employment laws, and see if there is any potential risk of violation or potential lawsuit following this decision. Using the COSO approach will allow Riordan to manage this process more efficiently and will protect the organization from unforeseen risk.
Real and Intellectual Property
Riordan needs to protect their real and intellectual property rights to protect the millions of dollars of assets. The risk management analysis needs to continuous updating because of newer patents developed and because of laws and regulations changing. Beginning with Real property, all the land, buildings Riordan operates in are properties that need protection from the public and employees. Riordan operates in four locations in the United States, Albany, Pontiac, Michigan, and Georgia; the language of the deed protects the land. Written in the deed is very crucial especially in properties that are abroad. Laws are different in foreign countries and the board members need to be aware of the implications of moving to Hangzhou, China. Risk assessment needs to take place when moving facilities. Saving labor by moving may be one positive, but the company needs...

Other assignments on Business Law

Business Law Essay

830 words - 4 pages BAI Danni February 2nd, 2014 LECORCHE Claire European Law CHATELIN Mael MIM Program ZHANG Xuwen Continuous Assignment – Team work: ABC Case Part 2: Goods produced in India I) Facts Summary II) Applicable Law III) Argumentation IV) Conclusion V) ABC actions I) Facts Summary  In charge of inspection shipment (pre or after??) suppler must to do the goods >US$3,300  Cost the fee of waiting for

Business Law Essay

725 words - 3 pages Introduction Within our second week of class discussion, we learned valuable information relating to business torts. Our main objectives that we were to acknowledge upon completion this week includes identifying potential tort risks that that arise in the business context. In addition, we learned the importance of applying the risk management to mitigate business risk. We also learned how to differentiate between types of torts, and when

Business Law

9821 words - 40 pages Revisions of the UCC To clarify certain rules or establish new rules when changes in business customs have rendered existing UCC provisions inapplicable * Articles 3 4 5 8 & 9: revised in the 1990s The Scope of Article 2- The Sale of Goods Article 2 governs sales contracts, or contracts for the sale of goods. Modifies some of the common law contract requirements To the extent that it hasn’t been modified by the UCC, common law of

Business Law - 1465 words

1465 words - 6 pages crimes focusing on theft and the perpetrators; examine the impact to businesses and explore how business can deal with these offenses. Merriam-Webster defines crime as “an act or the commission of an act that is forbidden or the omission of a duty that is commanded by a public law and that makes the offender liable to punishment by that law”. There are many types of crime but the two this paper will focus on are street crime and white- collar

Business Law - 9691 words

9691 words - 39 pages Rosling, Kinch要收购一家football club,为此他卖了自己的business用来买shares和provide additional capital。Rosling告诉他说这些钱够了,但结果不够,他就liable for 很多无力偿还的pay,最后这个club enter administration了他的share也作废了,最后他破产了。Court held 这很明显是fraudulent statement,他的damage包括:fees paid to Rosling和various professional advisors,还有他的shareholding的loss,还有遭受bankruptcy的精神损失。)   2.Common law negligent misrepresentation(negligent misrepresentation)(不常见):如果existing a duty of care,或者breach了duty、causation或者

Law Of Business Association

1019 words - 5 pages LST2LBA: Law of Business Association Semester 3- 2012 Student’s Name: Wu Tingting Student’s ID: wuttd101 QUESTION 1 Legal Issue: 1. Whether Toan has eligible to bid at this auction 2. At this auction. Toan represent company or individual 3. whether Toan has breach of the government’s policy and laws containing that policy Relevant Rules of Law No matter how many shareholder exist in

International Business Law

2797 words - 12 pages International  Business  Law   Final  Assignment  –  ISEG  Group  1A   Alfred  Boudet   26th of November 2012     The    Case  Of  Plant  Relocation         In this case I am working in Electrocorp, as the Chief Executive of the company. Electrocorp is an electronics company manufacturing onboard computer components for automobile. The company is facing an

Business Law Management

1139 words - 5 pages Course Description and Learning Objectives Every business decision has legal overtones and most business will be involved in some sort of legal action at some point in their progression. The goal of this course is to discuss issues faced by emerging businesses against the background of what the law can and cannot do. As each semester some new scandal or issue makes the press, we will use current events as a springboard for the topics

Role And Functions Of Business Law

843 words - 4 pages The Role and Functions of Business Law Tanisha Haynes LAW/421 July 18, 2013 Ms. Lindsey Cole The Role and Functions of Business Law When people hear the word law, one will think of the laws in which people have to abide by on a daily basis. There are several different variations to the laws; there are states laws. Each state has their own rules for their citizens to follow. Then there is the Federal law, which governs the government

The Influence Of Law In Business

936 words - 4 pages The Influence of Law in Business Practice Intro to Business & Technology March 23, 2014 The Influence of Law in Business Practice There are several laws in the United States that are meant to set a standard for fair, balanced, and competitive business practices. These are, by design, a way to ensure that trade- international as well as domestic- is done in a reputable and progressive fashion. There are many aspects that come in to

Business Law - 292 words

292 words - 2 pages will receive a higher salary and profit-sharing bonus after the departure of Dr. Qaas. This kind of contract would be classified as an implied-in-law contract (quasi-contract). Dr. Winkel performed his services and duties to Dr. Vranish for a year even though no contract existed. Therefore, the court would entitle Dr. Winkel the profit-sharing bonus. Pertaining to the second question, Dr. Vranich protest of the altered oral modification of

Similar Documents

Business Law Essay 931 Words

931 words - 4 pages 1. What are the main sources of Scots Business Law? A: The main sources of Business Law are UK Parliament (West Minister), European Parliament and Scots Legislation. Also, the others are Judicial Precedent, Institutional Writers and Custom. 2. Judicial Precedent is Superior to Statutory Law. Do you agree with this statement? A: I disagree; the judicial precedent is formed from a case law, it’s known to be the most important source in

Business Law Essay 820 Words

820 words - 4 pages 1. For Week1 1, you will analyze cases based on the first letter of your last name. * A - M: Chapter 2 (4-7) and Chapter 3 (8-10) in the Dynamic Business Law text * N - Z: Chapter 2 (8-10) and Chapter 3 (5-7) in the Dynamic Business Law text 2. For each assigned case, analyze the issue based on the following criteria: * Identify the parties involved in the case dispute (who is the plaintiff and who is the defendant

Business Law Essay 757 Words

757 words - 4 pages FRAUD 2.1.2 IT IS FARUDULENTS Common law, is the two categories of agreements are not enforceable, the agreement and the agreement null and void. Invalid agreement in question is an agreement which is contrary to law or prohibited by law. Agreement or contract that illegal is actually means the agreement entered into conflict with the law is carried out in a country. This is because, within the provisions made under section 24 (a) to (e

Business Law Essay 957 Words

957 words - 4 pages company gets out of bankruptcy the better chance they have of succeeding and having their stock values go back up. The number one reason a business is started is so that a profit is made and when profits are being made a company has to rethink its strategy and sometimes starting all over again is a viable option (Clarkson et al,. 2012). References: Clarkson, K.W., Miller, R.L., & Cross, F.B. (2012). Baker College Law 312 – Advanced business law (12th ed.). Mason, OH: Cengage Learning.