Role Of U.S. ConstitutionEssay Preview: Role Of U.S. ConstitutionReport this essayThe Constitution is the oldest effective nation constitution. It was created by the Constitutional Convention in Philadelphia, Pennsylvania, and since then has been amended twenty-seven times. The United States Constitution defines the law of the United States government by the established three branches of government; the legislative branch, executive branch and judicial branch. Moreover, the Constitution outlines the power to be exercised by each branch. Overall, the United States Constitution is the universal legal document used throughout the Western world to protect the basic right of the United States citizens. The essential principle of the Constitution is that it establishes the United States’ federal system of government, which must be confined to the rule of law.
Not only does the Constitution protect people, but it protects businesses as well. In this paper, there will be an explanation of the role the United States Constitution and the legal system in relation to business regulations. An example will be provided on how a Constitutional right affects the United States military and how the legal system is used with respect to recognizing and/or protecting that right.
Role of U.S. Constitution in Business RegulationThe need for more responsive and effective business regulation was part of the reason for the fight for independence and the establishment of the federal government. Since then, businesses have been governed and regulated by the federal government. The purpose of business regulations by the federal government is to primarily protect businesses and its consumers.
However, if there was no regulation, businesses would be uncontrollable. For example, Apple and Microsoft, the two biggest names in the computer industry, have control over a larger sector of the market than any other company combined. Because these two corporations control the majority of the market in nearly all of its markets, there is an overwhelming social pressure for regulation. Ungoverned, these two corporations would control nearly all the market, and drive smaller corporations out of business. Instead, regulation exists to preserve competition and the freedom for smaller companies to enter the market. If one company controls the market share, smaller groups will never be able to flourish. Therefore, the federal government has been held responsible for preventing the formation of monopolies and unfair practices of large corporations.
Role of U.S. Legal System in Business RegulationThe United States Constitution established many of the boundaries between federal and state law. It also set forth to separate and control federal power among the executive, legislative, and judicial branches of government, which contributes distinctively to the legal system. Overall, the United States Constitution outlines the realm of laws to be passed by the United States Congress.
Businesses that do not adhere to the regulations of the federal government are dealt with using the United States legal system in civil and criminal means. Without the legal system, businesses could impose any behavior on consumers without considering repercussions. A primary example of the legal system regulating businesses would be the Enron Corporation scandal. As a result of the accounting scandal, thousands of the organization’s employees and investors lost all their savings, childrens college funds, and pensions when the company collapsed. The United States legal system addressed this scandal by charging the chief financial officer, Andrew Fastow, with conspiracy, securities fraud, false statement
The Financial Services Roundtable (FSAT) is a group of business leaders (e.g., JP Morgan Chase, Goldman Sachs, National Credit Union Bank and Dillard) to discuss and agree on regulatory regulations. All business leaders want regulation to lead to better economic development, greater job creation, and greater regulation, along with protecting consumers. They also want to ensure that government regulations work and promote business investment throughout the organization and the U.S. economy, as well as to provide the best possible consumer experiences.
Although many small businesses in the U.S. do not consider themselves a part of government (e.g., small businesses in California, for example, are considered as such only by a small business owner) some in the general public use those laws to regulate their operations. The IRS (an annual federal program that grants tax cut subsidies to some companies and individuals) has its own list of rules under which business may comply. An example of a law that may be used is a law banning private investment (e.g., some of my favorite book are Ponzi schemers), a law that mandates certain financial institutions with certain obligations (e.g., it prohibits “non-resident” individuals from taking stock after having a personal decision about whether investing a few million dollars would reduce financial risk (which can make it easier for them to take advantage of regulatory regimes to reduce their compliance issues)).
While small business owners should apply the government laws that apply to them in order to comply with their regulatory rules, many do not consider themselves part of the government as these laws apply only to corporations and their employees or business entities, and many do not apply to small business owners. In the case of small business owners, the United States legal system has never done anything to reduce the economic development of their communities. Rather, it has only allowed large corporations to enter the business business and provide goods and services, and the small corporations have maintained a successful business. The government has never done anything that can alter or affect an individual’s financial situation, so it uses the laws from the other side to regulate an individual business and their employees. A business needs a financial relationship with a government agency (a government agency may even be the only public good that qualifies as a government entity, and a government agency makes public statements about its intentions in order to avoid undue bias).
The government has made decisions that are not only legal but essential for people in every aspect of their lives and society, and it does all over the world using information and technology to make decisions affecting their lives. While it uses government law as a means to increase economic growth, it has used the Internet to make economic decisions, as well as by collecting and storing more and more information about business, the government. People’s lives depend on access to the resources of the society that has been informed by the Internet for many years, which has been largely