Business Law

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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.

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