Law and Self-Regulation

Abstract This book is especially intended for business students who are new to the study of law and law students who want to be introduced to the business dimension of their profession. Business and legal theories are combined into a concise practical overview of the relationship between law and business with a focus on corporate strategy development and its implementation. The regulatory environment is examined and presented from two perspectives; a legal and a business perspective. For the analysis and evaluation from a business perspective, the following key business concepts are used: business, company, reputation, compliance, responsibility, environments, value, strategy, marketing, legal function and risk management. For the analysis and presentation from a legal perspective the following key legal concepts are used: hard and soft law, the rule of law, human rights, self-regulation, legal family, legal system, contracts, dispute resolution and enforcement. These and other legal concepts are presented, examined, and evaluated with the aim of outlining their potential function for strategy development, strategic choices, reputation and risk management. To realise the integration of law and business the following concepts to link the two are used : regulatory environmental analysis, regulatory opportunities or threats, regulatory strengths and weaknesses, strategic input, strategy testing, strategy contribution, reputation management and risk management.