Constitution And Busines Law
The Constitution is the set of rules laid down by the Founding Fathers of the country to govern the citizens of the land. It defines and structures the different laws, rights and duties for effective governance of the country. |
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The United States adopted its Constitution on September 17, 1787. It is the supreme law of the land, and the source of legal authority which defines the three main branches of government, namely the Legislature, the Executive and the Judiciary.
The Constitution affects the way business is conducted in the country. Some of the aspects which have specific laws laid down by the government of the US pertain to advertising, employment, labor, environmental regulations and licenses, and permits. Finance, patents, trademarks, copyright and online business also come under many laws along with privacy laws, taxes, uniform commercial code and workplace safety and health.
All the above aspects of businesses are affected as the amendment of the Constitution in Article 1, Section 8 states: "The Congress shall have power to lay and collect Taxes, Duties, Imports and Excises, to pay the debts and provide for the common defense and general welfare of the United States; but all Duties, Imports and Excises shall be uniform throughout the United States." This means that the Congress can impose a heavy sales tax on companies which manufactures products which can have negative effect on human health such as cigarette companies.
The 5th Amendment states: "...nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation." This makes the government liable to reimburse a business in cash or kind if something it does obstructs business. For example, like a demolishing of a business structure for road expansion.
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