Business Law
MARKET LEADER Business English
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A Robin Widdowson
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Pearson Education Limited
The Financial Times
Edinburgh Gate Harlow Essex CM20 2JE England and Associated Companies throughout the world.
Extract in Unit 3 from ‘Arbitration preferred in cross-border dispute’, The Financial Times, 16 May 2006 (Tait, N.), copyright © The Financial Times Ltd; Extract in Unit 4 from ‘Right and wrong choices in the market for justice’, The Financial Times, 21 March 2006 (Kay, J.), copyright © The Financial Times Ltd; Extract in Unit 6 from ‘Lawyer at GE seeks $500m in gender-bias case’, The Financial Times, 31 May 2007 (Masters, B. and Guerrera, F.), copyright © The Financial Times Ltd; Extract in Unit 6 adapted from ‘EU employment law advice’, The Financial Times, 25 April 2008 (Moghadassi, R. and Robinson, W.), copyright © The Financial Times Ltd; Extract in Unit 7 from ‘InBev ruling sparks fears for M&A in China’, The Financial Times, 30 November 2008 (Tucker, S.), copyright © The Financial Times Ltd; Extract in Unit 9 from ‘Diageo wins whisky piracy case in China’, The Financial Times, 27 November 2008 (Anderlini, J.), copyright © The Financial Times Ltd; Extract in Unit 9 adapted from ‘Rise in cases to protect companies’ copyright’, The Financial Times, 21 November 2008 (Moules, J.), copyright © The Financial Times Ltd; Extract in Unit 10 from ‘Thinking about fraud’, The Financial Times, 17 October 2008 (Peel, M.), copyright © The Financial Times Ltd; Extract in Unit 11 from ‘Industry warns on EU pollution law’, The Financial Times, 7 January 2008 (Bounds, A.), copyright © The Financial Times Ltd; Extract in Unit 16 adapted from ‘Secrets of success’, The Financial Times, 26 March 2009 (Burton, J.), copyright © The Financial Times Ltd; Extract in Unit 17 from ‘Insider dealing sentence highlights crackdown’, The Financial Times, 4 January 2008 (White, B.), copyright © The Financial Times Ltd.
www.pearsonlongman.com © Pearson Education Limited 2010 The right of A Robin Widdowson to be identified as author of this Work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved; no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise without the prior written permission of the Publishers. First published 2010 ISBN 978-1-408-22005-4 Set in Metaplus, Times & ITC Cheltenham Printed in Slovakia by Neografia Acknowledgements This series was developed and written by consultants working with LTS Training and Consulting, Bath, a specialist language and intercultural training company. The author and publishers are grateful to Natalie Riddick who reported on earlier drafts of this material.
In some instances we have been unable to trace the owners of copyright material, and we would appreciate any information that would enable us to do so. Photos
The author would like to thank Judy Bowles for the very welcome support and patience, Barbara Widdowson for encouragement, and Adrian Pilbeam for the opportunity to write this.
The publisher would like to thank the following for their kind permission to reproduce their photographs:
We are grateful to the following for permission to reproduce copyright material:
Alamy Images: Ilian Food & Drink 37, moodboard 41; Corbis: Denis O’Regan 53; DK Images: Ian O’Leary 29; iStockphoto: 69, Anthony Baggett 17, Alexander Hafemann 9, Hazlan Abdul Hakim 45b, Lari Kemiläinen 33, Catherine Yeulet 73; Jupiter Unlimited: Stockxpert 13, 65, Thinkstock Images 45t; PunchStock: Digital Vision 25; Rex Features: Everett / c. Eros International 21; shutterstock: JustASC 5
Text Extract in Unit 2 adapted from ‘Company lawyers get a wider role in business’, The Financial Times, 14 July 2005 (Murray, S.), A copyright © Sarah Murray; Extract in Unit 2 from ‘Areas of activity for corporate lawyers’, The Financial Times, 14 July 2005 (Murray, S.), copyright © Sarah Murray; Extract in Unit 3 (page 15) adapted B from Doc No Ecom 12-00 ‘Alternative dispute resolution in the context of electronic commerce’, February 2000, www.tacd.org, copyright © TACD; Extract in Unit 5 from ‘Bollywood witnesses increases lawyer representation’, The Economic Times, 13 October C 2007 (Ganguly, D.), copyright © 2010, Bennett, Coleman & Co. Ltd. All rights reserved; Extract in Unit 12 from ‘General duties of employers to their employees’ under Health and Safety at Work Act 1974, Crown Copyright material is reproduced with permission under D the terms of the Click-Use License; Extracts in Unit 13 from Contract Law, 5th edition, Longman (Elliott, C. and Quinn, F. 2005) copyright D © Pearson Education Ltd; Extract in Unit 15 from Business Law, 2nd edition, Longman (Macintyre, E. 2004) copyright © Pearson E Education Ltd; Extract in Unit 18 adapted from ‘Leap of faith’, The Lawyer, 27 October 2008 (Bi, F. and Atta, A.), www.thelawyer.com, copyright © The Lawyer.
(Key: b-bottom; c-centre; l-left; r-right; t-top)
Every effort has been made to trace the copyright holders and we apologise in advance for any unintentional omissions. We would be pleased to insert the appropriate acknowledgement in any subsequent edition of this publication. Cover photo © Getty Images/Jeff Spielman Project managed by Chris Hartley Exercises marked with this symbol are designed to cover skills required for the ILEC reading test.
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Contents Introduction to business law 1 Business and the law
4
2 In-house lawyers
8
3 Handling international disputes
12
4 Different countries, different legal systems
16
Operating globally 5 Bollywood needs lawyers!
20
6 Practising diversity
24
7 International mergers and acquisitions
28
8 Cybercrime – a worldwide threat
32
Business law challenges 9 Protecting intellectual property
36
10 New ways of dealing with fraud
40
11 The costs of pollution
44
12 A safe workplace?
48
Contracts in the business world 13 Contract law
52
14 Terms and conditions: the language of contracts
56
15 A case law report
60
Business law and finance 16 How tax laws can create business
64
17 Insider dealing
68
18 Sharia law and international finance
72
Check Tests
76
Answer key
80
Glossary
89
Useful websites
96
3
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