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Legal compliance is the process or procedure to ensure that an organization follows relevant laws, regulations and business rules. [5] The definition of legal compliance, especially in the context of corporate legal departments, has recently been expanded to include understanding and adhering to ethical codes within entire professions, as well.
A business rule defines or constrains some aspect of a business. It may be expressed to specify an action to be taken when certain conditions are true or may be phrased so it can only resolve to either true or false. Business rules are intended to assert business structure or to control or influence the behavior of the business. [1]
The International Organization for Standardization (ISO) and its ISO 37301:2021 (which deprecates ISO 19600:2014) standard is one of the primary international standards for how businesses handle regulatory compliance, providing a reminder of how compliance and risk should operate together, as "colleagues" sharing a common framework with some nuances to account for their differences.
The Law and Management methods are therefore primarily behavioral and borrow numerous investigation and data processing techniques from the fields of sociology and psychology, since these approaches rely on observation. The purpose of the approach is nevertheless specific and consistent with management sciences, as it try to understand how Law ...
Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations .
Managerial prerogative is that employers and managers can freely supervise according to their own judgments. Its effective exercise includes recruitment, employment, job distribution, job supervision, working methods, working hours, employee rules and regulations, employee supervision, employee transfer, employee sanctions, layoffs, employee dismissals, employee recalls, and other employment ...
Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities.
Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds [1]), self-regulation in psychology, social regulation (e.g. norms), co-regulation, third-party regulation, certification, accreditation or market regulation.