Regulation in Business

Regulation in Business

Regulation of Business
Patrick Reagan
Business Law/BUS 415
Bryan M Grantham, J. D.
May 18, 2009

Every business has rules or guidelines which dictate how the company operates and defines employee behavior. Implementing specific policy insures a positive company direction to achieve the goals according to the business plan. The rules are also meant to take care of all the employees, management, and owners. On a larger scale, the U. S. Constitution and the U. S. legal system provide a role which governs fair business or commerce practices. The lack of regulations could promote commerce to monopolize, price inflation, poor product quality, and unfair treatment to employees. The members that developed the U. S. Constitution understood the need to address commerce regulation and have been the basic guideline for over two hundred years.
The U. S. Constitution was reported to Congress in 1787 and after state ratification was completed in 1788. The document provided the framework for the federal government and the highest law for Americans to live by. Foresight by the members who drafted the document prompted the Commerce Clause in relation to business regulation. At the time the constitution was formed, commerce was conducted on an intrastate, interstate, and international basis. The original purpose of the clause was to insure more responsive and practical business regulation. The state and federal government have concurrent power to regulate domestic commerce. The federal and state dually regulate the parameters of interstate and intrastate commerce. The provision that allows individual states to control state commerce identified that each state had different commerce and interstate trade could be conducted without constant federal oversight. But through time, the expansion of commerce grew to 50 United States and a global scale of what is know today. The Commerce Clause still protects businesses and consumers after 200 years.
After the...

Similar Essays