The study of business law focuses on the laws and ethical standards by which businesses and their directors, officers, and employees must abide during the course of all their business conduct. The legal and ethical windows within which businesses operate may potentially breach regulatory compliance; as such, ethical considerations often inform a company’s decision making process. Ethical considerations can include identification of stakeholders and their interests, corporate social responsibility, and outside counsel or in-house legal staff to assist with risk management. The study of business law explores ethical issues within areas of business management, and situates them within a broader framework of corporate action and responsibility in a free market society.
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