The US Laws and Guidelines Governing Fair and Equitable...

The US Laws and Guidelines Governing Fair and Equitable Business Practices BUSN115 September 21, 2013 Professor Neal McGregor The US Laws and Guidelines Governing Fair and Equitable Business Practices The United States became one of the most influential world powers virtually overnight. The system of functionality which maintains this growth and power is the refined codes of business practices which are the cornerstone for domestic and international business relations the world over. Due to the unprecedented growth and prosperity of our nations economy and government, many countries look to us as a model of free enterprise for other nations. One doctrine of thought is the United States belief that our government†¦show more content†¦One great example of this type of relationship is the two businesses Macintosh and Windows. Historically they have always been in constant competition with one another, which has ultimately benefitted the people of the world by fueling competitive innovation. [1] â€Å"National competition law usually does not cover activity beyond territorial borders unless it has significant effects at nation-state level.† One law, which helps protect businesses and promotes fair competition for the benefit of the consumers, is the US Anti-Trust law. This law is comprised of three different acts: The Sherman Act 1890, the Clayton Act 1914 and the Federal Trade Commission Act 1914. The first role these acts perform is to restrict the formation of cartels which would perform outside of the guidelines of the government and there for not be bound by there laws. The second role these acts perform is to ensure no single business entity can perform a certain level of mergers and acquisitions, which would essentially turn them into a monopoly and reduce competition. Overall, the antitrust laws are constantly debated for their overall functionality and efficiency in protecting the fair business practices of the United States. [2] â€Å"One view, mostly closely associated with the Chicago School of economics suggests that antitrust laws should focus solely on the benefits to consumers and overall efficiency, wh ile a broad range ofShow MoreRelatedWhat Oecd Principles Are For An Effective Corporate Governance?1655 Words   |  7 Pagesmany set guidelines to ensure the corporation makes a positive impact on market conditions to benefit shareholders, its employees and other market participants. Outlined in CN Rail’s corporate governance manual, CN Rail has a strict set of rules pertaining to the composition of the board of directors. Their â€Å"Governance Committee† has ruled that there must be at least 7 directors to a maximum of 21. 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