What is the importance of a Business Law course for a Business Management student?

<p><strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r2:" data-state="closed">As a subject of study, business law is essential to the curriculum of business management students because it equips them with the knowledge and ability required to run a business legally and within the provisions of the law. </span></strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r3:" data-state="closed">The principle areas of business law are contracts and agreements, business structures, employment &amp; labor law, laws related to the protection of proprietary rights, and legal requirements that need to be followed.</span><br><br><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r4:" data-state="closed">Here are some of the specific benefits of taking a business law course for business management students:</span><br><br><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r5:" data-state="closed"><strong>Reason on the legal consequences of business actions:</strong> </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r6:" data-state="closed">Managers come across issues with legal consequences in their day-to-day management of business organizations. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r7:" data-state="closed">Hence, the law provides a valuable tool to business managers as it furnishes them with knowledge to make proper choices and/ or avoid legal repercussions.</span><br><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r8:" data-state="closed"><strong>Negotiate and draft contracts:</strong> </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:r9:" data-state="closed">Every business needs contracts as it is one of the foundations of business operations. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:ra:" data-state="closed">Business law helps students understand the rules of contract negotiations and to write contracts which are reasonable and legal to implement.</span><br><strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rb:" data-state="closed">Safeguard the company&rsquo;s various types of legal property: </span></strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rc:" data-state="closed">Trademark, copyrights and patents are important legal entities under the law that most companies consider as an asset. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rd:" data-state="closed">Another principle in business law is educating students on how to prevent the infringement on the company&rsquo;s property especially its intellectual property.</span><br><strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:re:" data-state="closed">Comply with government regulations: </span></strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rf:" data-state="closed">The government has put in place different legal frameworks that govern businesses. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rg:" data-state="closed">Business law helps the students understand how to follow such regulations in order not to encounter penalties.</span><br><strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rh:" data-state="closed">Manage risk: </span></strong><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:ri:" data-state="closed">Business are exposed to several different risks, one of which is the legal risks. </span><span aria-haspopup="dialog" aria-expanded="false" aria-controls="radix-:rj:" data-state="closed">Business law equip the learners with the necessary understanding on how to handle such risks.</span></p>

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