This assignment is worth 20% of your final grade and is divided into two phases.In the first part, students will be assigned an industry & product to either buy or sell.Students will engage in research of a Canadian company that sells a similar product in bothdomestic and international markets. Students will utilize their research to create a fictitiouscompany that buys/sells the product. Using the real-life market research, student will identifylegal issues related to the domestic and international sale/purchase of the item.In the second part of the assignment, students will present a risk management plan for theirfictional company. The presentation will address at least 6 areas of risk and propose anapproach for the company to address the risk through contracts. The presentation will be asummary of the written work in Part 1 and will require the group to deliver a presentationwith PowerPoint in the class.
Course Learning Outcomes Addressed
Assess the Canadian legal environment within which the current business professionalmust operate.
Evaluate legal issues related to tort, professional liability, privacy, and employmentlaw.
Contrast the different product liability standards domestically and internationally.
Identify the types of intellectual property and recommend the appropriate legalprotection.
Analyze legal risks and risk management measures in the digital age.
Understand key principles of contract law as they relate to negotiation and formationof agreements, discharge, termination, and remedies for breach.

Assignment Instructions
PART 1 - Research -
1. Each group is assigned to purchase or sell an item domestically and internationally.
Step One
2. Each group will conduct research on an existing Canadian company that is currently purchasing or selling a similar item both domestically and internationally.
Research should provide a brief overview of the company and address thedomestic and international market/industry environment.
Identify and discuss 8-10 areas of general legal risk experienced by thecompany. In order to complete this section, you will need to apply theknowledge you have gained from this course to the research you conductedabout the company Identify and discuss risks to which the business is exposedin the regular course of doing domestic and international business, and adiscuss ways the business might manage those risks (this may require someassumptions on your part.) This discussion will not address risks related to thepurchase/sale transaction of the specific item, but will discuss other legalrisks, such as intellectual property, employment, and/or tort liability.

Legal issues relating to the purchase/sale of the item. This will includeareas of liability to which the real-life business might be subject as a result ofthe contract for sale/purchase of the specific item. (You will need to researchdomestic legal principles that apply to the product you are buying or selling.Research the other country and consider any legal differences when doingbusiness with that country. Are there any specific international/domestic lawsor agreements that must be considered? This part of the assignment willdiscuss at least six areas of risk directly related to the contract for purchaseand sale.
Step Two -
3. After reviewing the research, you will create a persona of a fictitious company thatengages in the business of selling/buying the product. Referring to the areas of legal riskidentified in step one, you will summarize the areas of risk to which your company isexposed in the form of a memorandum. The memorandum will be a direction to a riskmanagement consultant, explaining the risk your company is concerned about. Thememorandum will explain your goals for a contract that will protect your business. Theexpectation is that the risk management consultant is providing you with solutions.[Part one of the assignment should be about 6-8 (and not more than 10) pages doublespaced. References are required for all research, and specific citations and application isrequired for any references to law.

Answer rating: 100% (QA)

Contract management can be risky business Thats because risk is inherent in any contract and in most cases it cant be avoided it must be managed and minimized After all nothing ventured nothing gained ... View the full answer