Business and Corporate Law

On a national level, several federal agencies and entities have regulatory and enforcement powers over business concerns. Penalties include the imposition of fines, the revocation of licenses or charters, and the restriction of business transactions. Entities such as the Federal Wage and Labor Board insure protection of business employees from unfair work requirements. The Environmental Protection Agency (EPA) and Occupational Safety and Health Administration (OSHA) protect both the environment and the workforce from harmful business practices and workplaces. The Securities and Exchange Commission (SEC) protects the public from illegal stock deals, "insider trading" to manipulate stock value, and fraudulent representation of corporate assets or status for the purpose of inducing private investment. The Food and Drug Administration (FDA) regulates the sale and distribution of controlled substances and food or drug additives or products not tested or approved by it. The U.S. Department of Agriculture regulates minimum standards for the quality of food products, and imposes strict liability for defective products. Antitrust acts protect the public from corporate monopolies and "price fixing." Bankruptcy laws ensure that creditors and investors of businesses have their interests protected against illegal or fraudulent claims or defenses. Federal laws may also regulate and restrict the involvement of citizens with foreign businesses to protect national interests. Examples include prohibitions on transactions with certain countries which may compromise national security interests, or certain transactions with those countries, such as arms sales or the importation of toxic or dangerous products. The above represents just a few examples of federal control over business interests.