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D080
Unit 3 - modules 5-6
| Term | Definition |
|---|---|
| anti-trust laws | consumer protection policy used to limit unfair business practices related to competition and control of prices |
| perfectly competitive market | a market in which no individual economic actor can affect the price of a good |
| monopoly | market in which single producer is a price maker that can determine the price level by deciding what quantity of a good to produce |
| World Trade Organization (WTO) | An international organization that works at the standardizing competitive market practices in conjunction with the internal laws of individual nations |
| Sherman Antitrust Act | The first American antitrust policy. Established in 1890. it delt with limited power of price controlling cartels |
| competition laws | Anti trust laws |
| antimonopoly laws | Anti trust laws |
| Apple vs Pepper | Antitrust court case in which a group of iPhone users have accused Apple of monopolistic prices via the App store |
| collective environment | understanding that the environment not only belongs to everyone to enjoy but also everyone's shared responsibility |
| United Nations Environment Programme (UNEP) | Branch of the United Nations that deals specifically with worldwide environmental problems |
| Paris Agreement | Universal Global climate deal aimed at keeping long-term global temperature increase at below 2 degrees Celcius |
| National Environmental Policy Act (NEPA) | American environmental act from the 1970s that requires federal; agencies to prepare environmental impact statements for every recommendation or report |
| Environmental Protection Agency (EPA) | American agency established in the 1970s with the goal of monitoring the environmental practices of industry |
| Deepwater Horizon oil spill | A 2010 industrial accident that is considered the largest oil spill in history |
| Oil Pollution Act of 1990 | US law that strengthen the Environmental Protection Agency's ability to prevent and respond to oil spills |
| The Clean Water Act | A US federal governing water pollution |
| sweatshop | A factory that is guilty of some sort of labor abuse or violation such as unsafe working conditions, employment of children, mandatory overtime, unsafe working conditions, and so on |
| National Labor Committee | A nongovernmental organization involved in anti-sweatshop activities and the implementation of labor laws |
| Worst Forms of Child Labour Convention, 1999 | Convention (1999) that aimed to eliminate all practices of child slavery or those similar to slavery |
| The Maritime Labour Convention (MLC), 2006 | Convention (2006) that set out a bill of rights for all seafarers |
| Domestic Workers Convention, 2011 | Convention (20110 aimed at protecting domestic workers from abuse and exploitation |
| Contracts | A legally enforceable promise |
| damages | recompense for the injured party by the party that breached the contract |
| vertical structure of law | A structure of law where those at the top govern those at the bottom |
| Uniform Commercial Code (UCC) | Source of contract law in the United States |
| horizontal structure | structure of law where neither party is in a legally dominant position over the other |
| horizontal structure | laws that govern disputes in a horizontal structure |
| UN Convention on Contracts for the International Sale of Goods (CISG) | United Nations treaty that applies to the international sales of commercial goods |
| Intellectual Property (IP) | a work or invention that is the result of creativity to which one has rights and for which one may apply for a patent, copyright, or trademark |
| trade secret | intellectual property that is kept private |
| patents | protects inventions and improvements to existing inventios for a limited period of time in exchange for detailed public disclosure of those inventions |
| trade mark | protection for any word, name, symbol. device or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others |
| Copyright | Form of protection used by the law of the United States to the authors of "original works of authorship" including literary, dramatic, musical, artistic, and certain other intellectual works |
| Word Intellectual Property Organization (WIPO) | global policy related to intellectual property |
| TRIPS ( Trade Related Aspects of Intellectual Property Rights) | A WTO agreement that governs all IP laws and protects intellectual property rights for global businesses |
| Intellectual property rights | legal protections for creations of the mind |
| Ethics | Field of philosophy that deals with the morality of what is considered right and wrong |
| organizational ethics | how an organization ethically responds to an internal or external stimulus |
| business ethics | the contemporary standards or sets of values that govern the actions and behaviors of individuals in the business organization and the actions of the business itself |
| ethical consumerism | a movement in which consumers make purchasing decisions based on a company's ethical profile |
| Corporate social responsibility (CSR) | A company's obligation to society, including a wide range of stakeholders: people and places affected by company activities |
| stakeholders | all parties who have a stake in the performance and output of the corporation |
| Sarbanes-Oxley Act of 2002 (SOX) | Law aimed at increasing the level of ethical transparency within corporate America |
| open government information regulations | Chinese regulation (2008) that establishes limited rules for government information disclosure and public participation |
| power distance | One of Hofstede's six dimension of national culture. It describes how formal and authority-focused a society is |
| cultural norms | shared, sanctioned, and integrated systems of beliefs and practices that are passed down through generations and characterize a cultural group |
| conflict of interest (COI) | Ethical challenges in which multiple interest are at conflict with one another |
| grease payments | a business practice of paying small inducements in order to expedite decisions and transactions |
| internal control | the redundancies that are built into a system to make certain that it accurately maintains material statements |
| discrpancies | accounting errors that occur unintentionally |
| irregularities | misrepresentations of accounting data with the intention to defraud |
| internal auditing | a control in which the company investigates and evaluates employees compliance with company policies and procedures |
| whistleblower | A person who exposes any kind of information or activity that is deemed illegal, unethical, or not correct within an organization |
Created by:
mmedearis
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