FPT UNIVERSITY HA NOI

Essay Assignment

LAW102

Student: Đàm Minh Khoa - SE160785

Course: Law102

Lecturer: Vũ Tuấn Minh

Ha Noi, 30 June 2023

 Table of Contents
I. Essay.................................................................................................................................... 2
II. References........................................................................................................................... 4

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I. Essay content
Doing business always includes many people. It is very hard for you to run a company
alone, even if you can, you must have someone as your customer. This means that
business is all about how people work together to exchange or create values. Without
appropriate regulations and guidelines, individuals may prioritize their personal gains over
collective welfare, leading to an environment characterized by chaos, unfair practices, and
instability. This necessitates the presence of laws that serve as a framework to prohibit and
deter actions driven solely by self-interest, ensuring that business activities operate within a
defined set of boundaries. Overall, laws play a crucial role in regulating and governing
business activities, ensuring fairness, stability, and ethical conduct in the marketplace.
One of the key reasons why we need laws in the context of doing business is to ensure the
protection of rights and interests. Laws provide a framework that safeguards various rights
and interests associated with business activities. Firstly, laws play a crucial role in protecting
property rights. One of the prominent laws regarding the protection of property rights is the
Intellectual Property Law. Intellectual property protection, such as patents, copyrights, and
trademarks, ensures that businesses can reap the benefits of their innovative creations
without fear of unauthorized use or infringement. For example, in chapter 2, section 20 of
the Intellectual Property Law 2005 specifies that the rights of intellectual property include the
following: creating derivative works; publicly performing the work; copying the work;
distributing, importing the original or copies of the work; transmitting the work to the public
through online, offline, electronic information networks, or any other technical means;
renting the original or copies of cinematographic works, computer programs
(thuvienphapluat.vn, 2023). This protection fosters an environment that encourages
businesses to invest in research and development, leading to technological advancements
and economic growth.
Secondly, consumer protection laws serve as a vital reason why we need laws in the realm
of doing business. These laws are designed to safeguard the interests and well-being of
consumers, ensuring fair and ethical practices within the marketplace. One of the primary
roles of consumer protection laws is to establish and enforce product safety and quality
standards. By setting these standards, businesses are required to produce goods and
services that meet certain criteria, thereby protecting consumers from potential harm or
substandard products. Additionally, consumer protection laws aim to prevent fraudulent
practices and false advertising. These laws prohibit businesses from engaging in deceptive
practices that may mislead consumers regarding the features, benefits, or quality of a
product or service. By promoting transparency and honesty, consumer protection laws foster
trust between businesses and consumers, enabling informed decision-making and fair
transactions. Furthermore, consumer protection laws provide consumers with legal recourse
in case of disputes or breaches of their rights. For example, section 11 of consumer
protection law regulates that organizations that violate consumer protection laws will be
subject to administrative penalties based on the nature and extent of the violation or if
damages are caused, they must compensate according to the provisions of the law
(thuvienphapluat.vn, 2023). These laws establish mechanisms for complaint resolution and
enable consumers to seek remedies or compensation if they have been harmed or misled

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by a business. By providing this law for redress, consumer protection laws empower
consumers and promote accountability within the business community.
Another crucial reason why we need laws in doing business is to ensure effective corporate
governance and promote ethical practices. It sets the framework for how businesses
operate and make decisions, ensuring transparency, accountability, and responsible
behavior. Laws related to corporate governance provide guidelines on how businesses
should be structured and managed, including the roles and responsibilities of directors,
executives, and shareholders. For example, section 54 in the Enterprise Law 2022
stipulates that a company must have at least one legal representative holding one of the
positions of Chairman of the Board of Members, Director, or General (thuvienphapluat.vn,
2020). These laws aim to prevent abuses of power, conflicts of interest, and
mismanagement within organizations, ultimately protecting the interests of stakeholders
such as shareholders, employees, and customers.
The presence of laws and regulations governing environmental practices is a compelling
reason why we need laws in the realm of doing business. Environmental regulations aim to
protect the environment, prevent pollution, and promote sustainable practices within
business operations. These regulations set standards and guidelines that businesses must
comply with to minimize their environmental impact and ensure the preservation of natural
resources for future generations. Environmental regulations address a wide range of areas,
including air and water pollution, waste management, emissions control, and the
conservation of biodiversity. For instance, based on Clause 2, Clause 4 of Article 3 of
Decree 155/2016/ND-CP, the definitions of dust emissions, gas emissions, and hazardous
environmental parameters in emissions and ambient air are as follows: discharging dust
and emissions into the environment refers to the act of individuals or organizations
generating and releasing dust and emissions into the ambient air (thuvienphapluat,2016).
The clause also refers the water pollution: discharging wastewater into the environment
refers to the act of individuals or organizations releasing various types of wastewater into
the soil, underground water, and surface water within and outside concentrated production
areas, business establishments, and service facilities (thuvienphapluat, 2016). In cases of
discharging wastewater into the soil, underground water, and surface water By establishing
clear guidelines and requirements, these laws ensure that businesses operate in an
environmentally responsible manner, reducing their ecological footprint and mitigating
potential harm to ecosystems and human health.
In conclusion, the necessity of laws in doing business cannot be overstated. Laws provide a
framework that ensures fairness, transparency, and accountability in the business
environment. They protect the rights and interests of various stakeholders, including
consumers, employees, and the broader society. By enforcing ethical standards, promoting
competition, and regulating business practices, laws contribute to the stability and
sustainability of the business landscape. Moreover, laws play a crucial role in safeguarding
the environment, promoting social responsibility, and fostering trust between businesses
and their stakeholders. Without laws, the business world would be vulnerable to exploitation,
unfair practices, and chaos. Therefore, laws are essential in creating a level playing field,
promoting responsible business conduct, and fostering an environment conducive to
economic growth and social development. By upholding the rule of law in business,

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 societies can foster trust, encourage innovation, give opportunities for all stakeholders to
thrive, and create a better world.

II.References
Consumer Protection Law (2010). Available at: https://thuvienphapluat.vn/van-ban/Thuong-
mai/Luat-bao-ve-quyen-loi-nguoi-tieu-dung-2010-115251.aspx (Accessed: 30 June 2023).

Decree No. 155/2016/ND-CP stipulates administrative penalties for violations in the field of
environmental protection.

Enterprise Law (2020). Available at: https://thuvienphapluat.vn/van-ban/Doanh-nghiep/Luat-

Doanh-nghiep-so-59-2020-QH14-427301.aspx (Accessed: 30 June 2023).

Intellectual Property Law (2005). Available at: https://thuvienphapluat.vn/van-ban/So-huu-tri-

tue/Luat-So-huu-tri-tue-2005-50-2005-QH11-7022.aspx (Accessed: 30 June 2023).

END.