Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property
June 11, 2014
Samuel Christian, Jr.
Legal and Ethical Considerations in Marketing, Product Safety, and Intellectual Property Being a worldwide successful company takes a lot of hardworking individuals to make this happen. When running a successful company, you will want to make sure you are functioning in an ethical manner and are abiding by the law. “PharmaCare is one of the world’s most successful pharmaceutical companies with a reputation as a caring, ethical, and well-run company that produced high-quality products that saved millions of lives and enhanced the quality of life for millions of
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While in some way or another laws deal with ethics, not all legal disputes have the same type of ramifications. Despite the fact law is extremely restricted and limited by institutions, ethics go further than institutional constrictions and it’s as a result detained to a higher standard. Guaranteeing ethical practices will encourage supportive laws. “The advertising industry operates within strict federal regulations and is monitored by the Federal Trade Commission”. “Advertisers have to be especially careful to act ethically at all times, taking extra care when advertising to children, advertising potentially harmful products and using psychological tactics to stimulate demand”. Some ethical issues relating to marketing and advertising is not being truthful in advertising, being deceptive and not having evidence to back up what they are advertising, also marketing decisions and efforts are not met and suit the needs of customer, suppliers, and business partners, price wars, and deceptive marketing. According to David Ingram, the Bureau of Consumer Protection’s Business Bureau notes that advertisements in the U.S. must be truthful, not deceptive and not unfair.