Legal Aspects

Credit cards

Most common

Interest

Employing

Independent Contractors

Hired to do specific tasks

Do not need to follow the rules

Employees

Paid based on amopunt of work time

Unions

Agents

Represent businesses

May bind them to contracts

Types of Contracts

Employment contracts

between worker and employee

-express agreements between employer and employee
-implied agreements between employer and employee
-employment federal and state laws and regulations

Employment Agreements

more complex between worker and employee

-wages
-benefits
-employment policies

Legal Contract

created during negotiations

clears out ambiguities

Requirements

offer and acceptance

genuine asset

legality

capacity

consideration

Legally Binding agreement between 2 parties

Types of Practice

Oral

Written

Sole Propirietorship

one owner

Partnership

2 or more owners

Corporation

whole committee own

Irrevocable rights to limited use of another's land for given period of time

-appurtenant
-in gross
-by necessity
-by prescription

-fraudulent
-illegal
limiting to free competition

misleading advertising

untrue claims regarding function, quality and effectiveness

Federal agencies against it

food and drug administration

security and exchange comission

federal communications commissions

Copyright

protects creative work

Trademark

protecst a representative entity of company

Patents

exclusive rights to make, use or sell product

License

temporary access to property