Principles of Agency

The Business Law credentials document the basic knowledge of business law concepts as applied in the general business arena. All business professionals and supporting staff must understand how to legally and ethically conduct business affairs. The knowledge base includes an understanding of the general legal environment of U.S. law and its relationship to international business laws, the torts and criminal laws that govern business interactions, laws related to product liability, laws related to intellectual property, contract and agency laws, laws related to credit and collections, employment laws, laws related to business structure and organization, property laws, and landlord-tenant laws. It is also important to be aware of the numerous government regulations imposed on businesses and business professionals. . Specifically, this badge demonstrates the earner's ability to define the rights and responsibilities of principals, agents, and third parties in agency transactions