Term
|
Definition
1) created National Labor Relations Board to enforce labor laws
2) prohibits employers from penalizing workers who engage in union activity an
3) requires employers to "bargain in good faith" with unions |
|
|
Term
|
Definition
1) Consolidated Omnibus Reconciliation Act
2) requires employers to allow former employees to continue health insurance coverage for 18 months--at employee's expense |
|
|
Term
|
Definition
1) Family and Medical Leave Act
2) which guarantees both men and women up to 12 weeks of unpaid leave for childbirth, adoption or medical emergencies for themselves or family member
3) must be allowed to return to their position or equivalent upon return |
|
|
Term
| The Doctrine of Wrongful Discharge |
|
Definition
prohibits an employer from firing a worker for a reason that violates public policy doctrine such as:
1) refusing to violate a law
2) exercising a legal right
3) performing a legal duty (jury duty) |
|
|
Term
|
Definition
1) oral promises made during the hiring process can be enforceable
2) employers may be liable for promises that they cannot keep or failure to disclose important information in the hiring process
3) an employee handbook creates a contract |
|
|
Term
| intentional infliction of emotional distress |
|
Definition
| employers who condone cruel treatment of their workers face liability under this tort |
|
|
Term
|
Definition
1) employers may be liable for defamation when they give false and unfavorable references about a former employee
2) more than half of the states recognize a qualifies privilege (protection unless statement is known false or given in ill will) for employers who give references
3) employers are generally not required to give any information about former employees, but may sometimes be held liable if potentially dangerous info is withheld |
|
|
Term
|
Definition
1) employees who disclose illegal behavior of their employers
2) the False Claims Act prohibits those who refuse to sign inaccurate reports
3) Sarbanes Oxley Act of 2002
4) Common law typically prohibits the discharge of employees who report illegal activity that is related to their own jobs |
|
|
Term
| Sarbanes-Oxley Act of 2002 |
|
Definition
| protects employees of publicly traded companies who provide evidence of fraud to investigators |
|
|
Term
| Occupational Safety and Health Act (OSHA) |
|
Definition
ensures safe working conditions
1) sets specific health and safety standards
2) obliges employers to keep workplace "free from recognized hazards"
3) requires records of all injuries and accidents
4) allows inspection of workplace and fines unsafe conditions |
|
|
Term
| can off duty conduct be regulated by the employer |
|
Definition
|
|
Term
| drug and alcohol test is allowed in |
|
Definition
1) private businesses
2) government employers may test if signs of use occur or if job safety is a concern |
|
|
Term
|
Definition
1) employers may not require or suggest one
2) only used in investigations of crimes |
|
|
Term
| The Electronic Communications Privacy Act of 1986 (ECPA) |
|
Definition
permits employers to monitor workers calls, emails, and even IM's if:
1) the employee consents
2) monitoring occurs in the ordinary course of business, or
3) in the cases of email, the employer provides the email system |
|
|
Term
| Fair Labor Standards Act of 1938 (FLSA) |
|
Definition
1) regulates wages (minimum and overtime)
2) limits child labor
3) regulates how much and in what types of jobs minors can work |
|
|
Term
|
Definition
| W.C. statutes ensure that employees receive payment for injuries incurred during work |
|
|
Term
|
Definition
1) pays benefits to workers who are retired, disabled, temporarily unemployed and the spouses and children of disable or deceased workers
2) also provides medical insurance to the retired and disabled |
|
|
Term
|
Definition
| an employee may not be paid a lesser rate (of equal work) than opposite sex employees |
|
|
Term
| Title VII of the Civil Rights Act of 1964 |
|
Definition
1) prohibits employers from discriminating on the basis of sex, race, color, religion or national origin
2) prohibits discrimination in the workplace, sexual harassment and discrimination because of pregnancy
3) affirmative action is allowed but not required
4) employers must make reasonable accomodation for a workers religious beliefs unless the request would cause undue hardship |
|
|
Term
|
Definition
plaintiffs in Title VII cases can prove discrimination in one of two ways
1) disparate treatment
2) disparate impact |
|
|
Term
|
Definition
| the plaintiff must show that she was actually treated different because of her sex, race, color, religion or national origin |
|
|
Term
|
Definition
| the plaintiff must shoe that a rule, although not discriminatory in itself, has an impact in practice that excludes too many people |
|
|
Term
|
Definition
Title VII prohibits discrimination on both race and color. while these are similar, they are not the same
ex: unfair treatment between light skinned African Americans and darker skinned African Americans |
|
|
Term
|
Definition
| employers must make reasonable accommodation for a workers religious beliefs unless the request would cause undue hardship for the business |
|
|
Term
| defenses to charges of discrimination |
|
Definition
1) Merit
2) Seniority
3) Bona Fide Occupational Qualification |
|
|
Term
|
Definition
| favored person is most qualified |
|
|
Term
|
Definition
| legitimate, even if it perpetuates past discrimination |
|
|
Term
| bona fide occupational qualification |
|
Definition
| job requirements that are essential to the position |
|
|
Term
|
Definition
3 sources of AA programs
1) court ordered programs to remedy past discrimination
2) voluntary programs
3) programs designed to comply with the requirement that government contractors be non-discriminatory |
|
|
Term
|
Definition
involves unwelcome sexual advances, in requests for sexual favors, and verbal or physical conduct of a sexual nature
a) two types
1) Quid Pro Quo
2) hostile work environment |
|
|
Term
|
Definition
| when any part of a job is made contingent on sexual favors |
|
|
Term
|
Definition
| when sexual innuendo is so pervasive that it interferes with an employees ability to do her (or his) job |
|
|
Term
| procedures to file a discrimination case |
|
Definition
1) plaintiff must first file a complaint with the Federal Equal Opportunity Commission (EEOC)
2) the EEOC may then sue on behalf of the plaintiff, and will pay the legal bill
3) if the EEOC does not choose to sue, the plaintiff may then proceed on her own in the court, paying her own legal bill
4) remedies include hiring, reinstatement, retroactive seniority, back pay, attorney fees and damages |
|
|
Term
|
Definition
| an employer may not fire or refuse to hire a women just because she is pregnant |
|
|
Term
| Age Discrimination Employment Act (ADEA) of 1967 |
|
Definition
| prohibits age discrimination against employees or job applicants who are at least 40 years old |
|
|
Term
| forced retirements at a certain age is... |
|
Definition
| prohibited except for police and top level corporate executives |
|
|
Term
| American with disabilities Act |
|
Definition
| 1) an employer may not disqualify a job applicant or employee because of disability as long as she can, with reasonable accommodation (would not create undue hardship) perform the essential functions of the job |
|
|
Term
| a person with a disability is... |
|
Definition
| someone with a physical or mental impairment that substantially limits a major life activity, or someone who is regarded as having such an impairment |
|
|
Term
|
Definition
1) a sole proprietorship is an unincorporated business owned by one person
2) easy to create and operate
3) earnings are reported to the owners personal tax returns |
|
|
Term
|
Definition
1) offer limited liability-->managers and investors personal property not at risk
2) managers, employees, and stockholders are still personally liable for their own negligence
3) corporate stock can be bought and sold, making investment easy to get
4) perpetual existence; continue w/o founders
5) involve a lot of expense and effort to create and operate
6) taxable entities |
|
|
Term
|
Definition
1) refer to a corporation whose stock is not publicly traded on a stock exchange
2) common provisions: protection of minority shareholders, transfer restriction, flexibility, dispute resolution |
|
|
Term
|
Definition
| share holders of S corporations have the best of both world; the limited liability of a corporation and the tax status of a partnership |
|
|
Term
| disadvantages of an S corporation |
|
Definition
1) only be one class of stock
2) there can be no more than 100 shareholders
3) shareholders cannot be partnerships or other corporations
4) shareholders must be US citizens or residents
5) all shareholders must agree that the company should be an S corporation |
|
|
Term
| limited liability companies |
|
Definition
| an LLC offers the limited liability of a corporation and the tax status of a partnership, without the cumbersome requirements of an S corp (such as annual filing, rules about classes of stock and numbers of stockholders, etc) |
|
|
Term
|
Definition
1) expensive set up
2) more difficulty in obtaining capital financing |
|
|
Term
| LLC is popular because... |
|
Definition
1) limited liability (corporation)
2) favorable tax status (partnership)
3) flexibility in classes of membership
4) easy transferability of interest
5) duration (does not dissolve upon withdrawal of a member) |
|
|
Term
|
Definition
| it is taxed like a corporation rather than like a partnership |
|
|
Term
|
Definition
| the LLC veil may be pierced just like a corporation if the law is not technically upheld |
|
|
Term
|
Definition
1) an unincorporated association of 2 or more co-owners who carry on a business for profit
2) each co-owner is a general partner
3) easy to form (can happen unintentionally)
4) do not have to pay taxes |
|
|
Term
| disadvantages of a general partnership |
|
Definition
1) partners can be held personally liable for the partnership actions and debts
2) financing may be difficult because they cannot sell shares |
|
|
Term
| partnership tort liability |
|
Definition
| a partnership is liable for intentional and negligent torts of a partner in the ordinary course of business or when the partner is acting with actual authority |
|
|
Term
| partnership personal liability |
|
Definition
| each partner is personally liable for the debts of the partnership |
|
|
Term
| partnership joint and several liability |
|
Definition
| a creditor may sue the partners jointly as a group or separately as individuals |
|
|
Term
|
Definition
1) each partner has equal rights in management of the partnership unless otherwise agreed
2) large partnerships are often managed by a few designated managing partners or an executive committee
3) unless agreed otherwise, partners have an equal vote on matters of partnership business |
|
|
Term
|
Definition
1) duty of care
2) duty of loyalty
3) duty of good faith and fair dealing |
|
|
Term
|
Definition
| duty owed by partners to manage the partnership affairs with gross negligence, reckless conduct, intentional misconduct, or knowing violation of the law |
|
|
Term
|
Definition
| duty of utmost loyalty, duty to not compete with partnership, turn over any profit to partnership and avoid conflicts of interest |
|
|
Term
| duty of good faith and fair dealing |
|
Definition
| duty to deal with each other and the partnership in a fair way |
|
|
Term
|
Definition
1) occurs if a partner quits
2) a partner always has the power to leave a partnership but may not have the right
3) when one or more partners dissociate, the partnership can either buy out the departing partner(s) and continue the business or wind up the business and terminate the partnership |
|
|
Term
| ending the partnership involves 3 steps |
|
Definition
1) dissolution
2) winding up
3) termination |
|
|
Term
|
Definition
| decision to end business; can be voluntary or automatic |
|
|
Term
|
Definition
| during the winding up process, all debts of the partnership are paid, are the remaining proceeds are distributed to the partners |
|
|
Term
|
Definition
| the end; happens when winding up is completed |
|
|
Term
| circumstances that require dissolution (partner) |
|
Definition
1) partner withdraws from a partnership at will
2) partner is dissociated and half of the other partners vote to wind up business
3) all partners agree to dissolve
4) the term expires or partnership achieves its goal
5) partners agree in advance on events that will cause dissociation
6) partnership business becomes illegal
7) a court determines that the partnership cannot function successfully |
|
|
Term
| limited liability partnerships (LLPs) |
|
Definition
| partners in an LLP are not personally liable for debts of the partnership (whether arising from contract or tort) |
|
|
Term
|
Definition
1) have general (active manager) and limited (money) partners
2) in a limited partnership, only general partners are personally liable
3) formation of limited partnerships require filed certificate of limited partnership
4) usually, limited partnerships continue even if partners leave the partnership |
|
|
Term
|
Definition
1) organization of professional (doctors, lawyers, accountants, etc)
2) all members must be of the same profession
3) professional corporations provide more liability coverage than a general partnership
4) when one member commits malpractice, the corporations assets are at risk and the personal assets of that member but not other members personal assets |
|
|
Term
|
Definition
| someone who trades on inside information is liable only if he has a fiduciary duty to the company whose stock he has traded |
|
|
Term
|
Definition
| a trader with no fiduciary duty |
|
|
Term
| types of antitrust violations |
|
Definition
1) per se
2) rule of reason |
|
|
Term
|
Definition
| automatically illegal, no matter what effect they have on competition |
|
|
Term
|
Definition
| violation are illegal only to the extent that they have an anticompetitive effecy |
|
|
Term
|
Definition
1) sherman act
2) clayton act
3) robinson-patman act |
|
|
Term
|
Definition
| prohibits all agreements "in restraint of trade" and bans "monopolization" |
|
|
Term
| section 1 of the sherman act |
|
Definition
prohibits all agreements in restraint of trade
1) price fixing (per se)
2) resale price management (setting a minimum price retailers may charge) (rule of reason) |
|
|
Term
| section 2 of the sherman antitrust act |
|
Definition
| prohibits monopolies or attempts to illegally monopolize a market |
|
|
Term
| to tell if a monopoly is illegal, ask |
|
Definition
1) what is the market
2) does the company control the market? (market share doesnt matter, you dont have a monopoly unless you can exclude competitors or control prices)
3) how did they acquire or maintain control> (possessing a monopoly may no be illegal; using "bad acts" to acquire or maintain one is) |
|
|
Term
|
Definition
| 1) occurs when a company lowers its prices below cost to drive competitors out of business |
|
|
Term
| to prove predatory pricing |
|
Definition
1) the defendant is selling products below cost
2) the defendant intends that the plaintiff goes out of business
3) if the plaintiff does go out of business, the defendant will be able to earn sufficient profits to recoup prior losses |
|
|
Term
|
Definition
1) prohibits mergers that are anticompetitive
2) tying arrangements |
|
|
Term
|
Definition
| selling a product on the condition that the buyer also purchases a different (or tied) |
|
|
Term
| to determine if it is illegal under the clyaton act |
|
Definition
1) are the 2 products separate?
2) is the seller requiring the buyer to purchase the 2 products together?
3) does the seller have a significant power in the market for the tying product?
4) is the seller shutting out a significant part of the market for the ties product? |
|
|
Term
|
Definition
| 1) prevents price discrimination |
|
|
Term
| it is illegal to charge different prices to different purchasers, if... |
|
Definition
1) the items are the same
2) the price discrimination lessen competition |
|
|
Term
| it is legal to charge a lower price to a particular buyer, if... |
|
Definition
1) the costs of serving this buyer are less
2) the seller is simply meeting competition |
|
|
