EC-106
This concept describes a business's duty to act in ways that benefit society and the environment.
What is Corpoate Social Responsibility (CSR)?
These are taxes placed on imported goods to make them more expensive than local products.
What are Tariffs?
Law that protects the public from scams and ensures products are safe.
What is Consumer Protection Law?
This is the ethical term for being honest,open, and not hiding information from the public.
What is Transparency?
What is a Patent?
This term refers to the "extra" bar a business sets for itself to do the right thing, even when the law doesn't require it.
What is Ethical Responsibility?
This movement aims to help producers in developing countries achieve better trade conditions and promote sustainability.
What is Fair Trade?
What are Antitrust Laws?
This is when a company charges a very high, unfair price for a "must-have" item during a disaster.
What is Price Gouging?
A recognizable logo, name, or slogan that identifies a specific brand.
What is a Trademark?
This the act of a business giving back to the community through time, talent, or financial donations.
What is Corporate Philanthropy?
This unethical trade practice occurs when a company exports a product at a price lower than it charges in its home market.
What is Dumping?
A legally binding agreement between two or more parties.
What is a Contract?
This is a "bad" side effect of business that hits people who didn't buy that product, like pollution.
What is an Externality?
The illegal use of someone else's protected invention, song, or brand.
What is Infringement?
This describes the specific ethical obligation of a company to ensure its products do not harm the people who buy them.
What is Product Liability?
The unethical use of children to manufacture goods in foreign factories.
What is child labor?
Laws that allow a person to sue a company for damages caused by negligence.
What is Tort Law?
This is an economic system where the government stays out of the way and lets buyers and sellers decide prices.
What is a Free Market?
A secret formula or piece of information that gives a company an edge over competitors.
What is a Trade Secret?
This is a formal, written document provided by a company that outlines the ethical values and rules its employees must follow.
What is Code of Ethics?
This term describes the unfair treatment conditions of workers in another country.
What is Labor Exploitation?
The rules created by government agencies like the SEC to enforce specific laws.
What is Administrative Law?
This is the practice of making a product break on purpose so you have to buy a new one later.
The legal right that protects creative works like books, movies, and music.
What is Copyright?