Why should the business student have an awareness of legal principles of tort and criminal law?

Expert Solution

According to the American Bar Association, Commission on Public Understanding, legal awareness is, "the ability to make critical judgments about the substance of the law, the legal process, and available legal resources and to effectively utilize the legal system and articulate strategies to improve it is legal literacy

Legal awareness can empower people to demand justice, accountability and effective remedies at all levels. Legal needs always stand to become crisis oriented because their ignorance prevents them from anticipating legal troubles and approaching a lawyer for consultation and advice in time. This magnifies the impact of their legal troubles and difficulties when they come.

legal literacy can help to bridge the gap between law and business by simplifying legal terms into language that makes business sense and offers a new way to think about the law as a useful business tool.corporate legal literacy involves balanced understanding of cross disciplinary influences bringing in legal risk exposure, avoiding lawsuits and transforming potential business legal issues that threaten growth and profitability, into opportunities for building stronger business relationships, delivering sustainable stakeholder value, improving competitive advantage and foremost embedding compliance into the corporate culture to achieve organizational excellence.

keosha answered 1 year ago

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