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Business Ethics Problems

What are business ethics?

A business ethic is a form of practical ethics or professional ethics that observes the ethical values, morals and ethical problems that come up in a business environment. A business ethic can also apply to all features of the business behaviors and is related to the behavior of the individuals and entire organizations.

Is it against legal business ethics or a non admitted attorney of an LLC to build an Operating Agreement and many other documents for the LLC?

In this case if the attorney is not admitted, and is not paid for the documents then it is not against legal business ethics. These types of documents are not required to be drawn up by a licensed attorney. With that being said, just because it is not against the legal business ethics does not make it a wise choice to do so. In order to protect those who are involved in the LLC a licensed attorney should review all documents to make sure all members of the LLC are equally protected.

Is there any protection for against a competitor calling my employees and asking how much they are paid, then offering them a job at a higher pay? What are my options as a business owner?

In this case there is nothing the business owner can do, unless the business owner has a contract with all the employees. The business owner could possibly get an order against the other employers calling the office, but not against them calling the staff. In order to protect the business owner from losing their employees, the business owner can outline and have all the employees sign a non-compete agreement.

Can someone sue a bank for what seems like poor business ethics when the bank has stated that a value on a house has dropped and then the bank declined a loan?

The individual cannot sue the bank for simply stating that a property value has dropped if the bank has not made the individuals credit drop. If there was no reduction on the credit, then the individual cannot prove that there were damages made. The individual will need to have a professional appraisal to look at the property. The professional appraisal will then need to return to the bank, and if the bank still declines and reduces the individuals credit based upon the appraisal of the property, then the individual can file a lawsuit against the bank.

What are the business ethics rules?

Below are listed the rules of business ethics:

• Social Responsibility – The business community can have a large impact on the citizens from others countries and therefore should avoid doing business with partners or suppliers that engage in unfair labor practices, including child labor, slave labor, starvation wages, unsafe working conditions, or ethnic, racial, gender, or sexual discrimination.

• Investigatory Response – Representatives of a company, whether they are employees or officers of that company, that in under criminal or civil investigation shall not destroy documents or data that could be pertinent to that investigation.

• Environmental Responsibility – There is a moral and legal obligation for companies to ensure that their business and that of their partners and suppliers comply with environmentally safe practices.

• Financial Deception – Intentionally conceals or misrepresenting a company’s financial information, or misappropriating corporate funds for personal gain, is unethical and punishable by law.

• Executive Responsibility – The chief executive officer is wholly responsible for that company’s employees, directors, and actions, including financial activities and statements, extracorporate agreements, and product/service claims.

• Defective or Deceptive Products – Knowingly producing a defective or service is material breach of ethical and legal standards and that company will suffer the appropriate negative consequences.

• Unfair Trades – Unfair trade practices include coercing partners, suppliers, or distributors into signing exclusivity agreements, pressuring clients to use products or services, underselling in the market in the attempt to drive the competition out of business.

Board of Directors – The board of director, on behalf of all shareholders, in its fiduciary capacity shall be liable for all financial statements.

After reading the above article there may still be business ethic problems that an individual will still need someone to address and answer questions. When coming across the many complex business ethics questions don’t hesitate to contact the many Legal Experts online for additional legal information.

Ask a Business Lawyer

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Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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Recent Ethics Questions

  • I am just researching forums regarding crimes of moral turpitude

    I am just researching forums regarding crimes of moral turpitude in the past and obtaining a license in medical field.I am 33 now. When i was 19 i took money from my employer, a bank and have a federal misdemeanor on my record for theft.
  • BONUS!! Case Analysis

    BONUS!! Case Analysis   Need By Tuesday

    Requirements Read and understand the case. Show your Analysis and Reasoning and make it clear you understand the material. Be sure to use the concepts of the course to show your reasoning.

    Summarize the situation. Dedicate at least one heading to each following outline topic:

    a. Parties [Identify the plaintiff and the defendant and tell something about them.]

    b. Facts [Summarize those facts critical to the outcome of the case.]

    c. Procedure [Who brought the appeal? What was the outcome in the lower court(s)?]

    d. Issue [Note the central question or questions on which the case turns.]

    e. Holding [How did the court resolve the issue(s)? Who won?]

    f. Reasoning [Explain the logic that supported the court's decision.]

    g. Case Questions [Be sure to address and thoroughly answer each and every case question and each part of each question.]

    h. Conclusion [This should summarize the key aspects of the decision and also your recommendations on the court's ruling.]

    i. Include citations on the slides and a reference page with your sources.

    Use APA style citations and references.

    2. Do significant research outside of the book and demonstrate that you have in a very obvious way. This refers to research beyond the legal research. This involves something about the parties or other interesting related area. Show something you have discovered about the case, parties, or other important element from your own research. Be sure this is obvious and adds value beyond the legal reasoning of the case.

    Case (Basic Details):  Business Ethics- United States v. Cloud, 872 F.2d 846, Web 1989 U.S. App. Lexis 4534 (United States Court of Appeals for the Ninth Circuit)

    Ronald V. Cloud purchased the Cal-Neva Lodge, a hotel and casino complex located in the Lake Tahoe area near the California–Nevada border, for $10 million. Cloud was a sophisticated 68-year-old entrepreneur who was experienced in buying and selling real estate and had real estate holdings valued at more than $65 million. He also had experience in banking and finance, having been the founder and chairman of Continental National Bank of Fresno. After two years of mounting operation losses, Cloud closed the Cal-Neva Lodge and actively began seeking a new buyer. Cloud met with Jon Perroton and orally agreed to transfer the lodge to Perroton for approximately $17 million. Perroton met with an executive of Hibernia Bank(Hibernia) to discuss a possible loan to finance the purchase of the lodge.Perroton made multiple false representations and presented false documents to obtain a $20 million loan from Hibernia. In particular, Perroton misrepresented the sale price for the lodge ($27.5 million) and stated that $7.5 million had already been paid to Cloud. An escrow account was opened with Transamerica Title Company (Transamerica). Cloud and his attorney and Perroton met at Transamerica to sign mutual escrow instructions. Cloud reviewed the instructions and noticed that the sale price and down payment figures were incorrectly stated at $27.5 million and $7.5 million, respectively, and that the Hibernia loan was for $20 million, almost $3 million above what he knew to be the true sale price. Cloud signed the escrow instructions. Later, Cloud signed a settlement statement containing the same false figures and signed a grant deed to the property. The sale closed on January 23, 1985, with Hibernia making the $20 million loan to Perroton. Subsequently, when the loan went into default, Continental Insurance Company (Continental) paid Hibernia its loss of $7.5 million on the bank’s blanket bond insurance policy. The United States sued Cloud for aiding and abetting a bank fraud in violation of federal law (18 U.S.C. Sections 2 and 1344). The jury convicted Cloud of the crime and ordered him to make restitution of $7.5 million to Continental. Cloud appealed.

    Case Questions: Did cloud act ethically in this case? Explain. Is Cloud guilty of aiding and abetting a bank fraud? (Cheeseman, p. 149)

    Cheeseman, H. Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues, 7th Edition Format: 1,500-2,500 word APA style paper.

    It should be completed as a MS Word document, typed in Times New Roman font, and size 12. Your paper should be double-spaced with 1-inch margins all around. Make sure your text is aligned left. Before submission, be sure to perform a spell check and read over your paper carefully for grammatical errors. Double-check that you have properly cited (using APA) all of your borrowed material.

  • I have some ethics questions. Can a Licensed Professional

    I have some ethics questions.
    Can a Licensed Professional Counselor sell products to clients such as books, literature, Vitamins, Nutrients or other products to help a client with mental health issues?
    A Doctor MD can give free samples of medications to patients. Can a counselor give free products to clients such as books, literature, vitamins, nutrients or other products? If then the client wants more of the product is there a way to sell it to the client in a way that the counselor makes a profit, or a family member makes a profit? The doctor sends them to a pharmacy. Can a counselor send a client to a seller of a product and receive profit from the sale? I know the State Statutes in Arizona indicate that a counselor can not receive profit from a referral to another counselor or doctor but does that also include profit from a sale of a product or a distributer of the product? For example can a counselor give a free sample of a nutrient not FDA approved and not requiring a prescription from a doctor and refer the client to a friend for more of the product if they like it and receive a commission from the sale?
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