According to Karl Max, law is a reflection of the economic legal relationship of a society in a certain stage of development. Meanwhile, according to Aristotle, the law is a collection that is not binding but is also a judge for the community, where the law oversees judges in carrying out their duties to punish guilty people.
The purpose of the law is to create and regulate human behavior in an orderly society and is expected to protect every human being. Those are the characteristics of law in general.
Meanwhile, the legal definition in business is binding which contains legal regulations from the government to regulate every business activity. Both in the form of ownership such as individuals, firms, limited liability companies and others. Law in business is also to maintain rights and obligations, so as not to be harmed. If in the future it is found that violations committed by business people will be sanctioned according to the provisions of the government.
Functions & Characteristics of Law in Business
Law as a Source of Information
Law as a source of information especially for someone starting a business for the first time. Of course company law will help implement all rules that have a coercive and binding nature, whether for consumers, investors or employees.
Understanding Rights and Responsibilities in Business
Rights and obligations are ethics in business. Rights are those granted to consumers or employees. While obligations are what employees must do to the company. Rights and obligations are serious issues in the public sphere.
Creating a Healthy Business
In the name of business, sometimes business people do dirty ways to achieve targets. This is what makes many people nervous. In business, it should put forward a healthy way so that the business does not get a lot of conflict.
The characteristics of law in business, as a system that has been determined by the government, have functions including bridging and realizing healthy business activities. This should be able to change the mindset of a fraudulent businessman.