Chapter 3: Business Law and Ethics

When two or more individuals create a business

Each person who participates in a contract agreement

Any work created by company employees on the job that is owned by that company

Regulates how contracts are written, executed, and enforced

Promoting the welfare of others

Handbook that outlines expectations of employee behavior

How the owners and employees of a company think, feel, and act as a business

Rules of behavior based on ideas about what is right and wrong

Describes the terms of employment between a business and an employee

Behaving with sensitivity to social, environmental, and economic issues

A document that dictates how business should be conducted

A proposal to provide a good or service

Contract that lists the products or services provided by a business and the price the customer pays in exchange

All parties involved must agree to the terms of a contract

Document that describes the basic expectations of fair treatment of consumers

A legally binding agreement between two or more people or business

Order to remove or repair unsafe products in the market

When a user agrees to the terms when the software is installed

An individual's ideas of what is right and wrong

The negotiation of employment terms between employers and union workers.

What type of contract do you use when renting something?

A person who is legally able to enter into a binding agreement.

Confidential information a company needs to keep private and protect from theft

Principles that help define appropriate behavior in a business setting

Specific information about a company or its employees is never shared, except with those who have clearance.

When on or more parties do not follow the agreed terms of a contract without a legitimate reason.

The number assigned by the IRS for businesses to use for income tax purposes

Something of value promised in a contract

Overstating the features and benefits of products or making false claims about them.

Honesty of a person's actions