Martha Stewart White-Collar Crimes (Research Paper Sample)

Martha Stewart White-Collar Crimes
Name
Institution
Martha Stewart White-Collar Crimes
On December 27, 2001, a lawful case touching Martha Stewart originated with her business deal of ImClone stock. The celebrity lifestyle entrepreneur and media personality sold the stocks after communicating with her broker through a phone call. Their conversation suggested the sale was on the basis upon insider information. I addition, the legal case against Martha Stewart was amongst the highest profile white-collar transgression cases. The accused has been an extremely noticeable superstar for several years. Consequently, she owns a personal magazine was the founder of an enormous lifestyle media empire. Stewart was widely admired by her fans all over the world. She has moreover been extensively ridiculed, envied and disliked. In a celebrity-obsessed ethnicity, her investigation received immense media coverage for contended insider trading. Although by some decisive factor, the precise case against Stewart was quite restricted in scope. In addition, the intense contradictions between Martha Stewart’s reputations as an incredibly victorious businessperson were inevitably interesting to a huge number of the American public. Stewart was also a source of motivation and encouragement to an enormous number of individuals attempting to improve their way of life and the outlook of her position as a convicted offender and prison convict. This paper will discuss Martha Stewart white-collar crime with a focus on business law aspects.
Business Law and Ethics provide individuals with an extensive, comprehensive appreciation of how the global commercial system operates (Ferguson, 2010). Business law deals with a chronological and evolutionary framework as a key connection in a market economy between an assortment of communal requirements and government reactions to facilitate and uphold harmony, justice and predictability in the societal array. Ethical thinking outlines the basis for resolutions of all business global entities (Ferguson, 2010). The accused case serves as an outline for evaluating and scrutinizing federal white-collar unlawful laws and their enforcement. Prosecutorial pronouncements, such as the use of duplicative cover-up accusations, disclose the profundity and supremacy of the federal unlawful system.
Stewart's case was unusual in that her case proceeded to trial. Consequently, most individual defendants often resolve to plead blameworthy rather than risk a trial and the incoherent sentencing models (Gottschalk, 2010). Some challenging attributes of white-collar immoral law consist of the guaranteed significance of investigation and indictment, the outcome of converging civil and criminal fraud accusations. Other challenging attributes include the liberal scope of securities offenses and long-lasting progression distress about uncertain statutory language (Gottschalk, 2010). There are also numerous problems faced by all federal defendants, even individuals who are not as well off or as and well symbolized by a powerful defense team as Martha Stewart.
Law serves an imperative role in national and international production environments by providing the rules that regulates business entities (Ferguson, 2010). Informed decision-making requires familiarity of the foundations of the American and international legal schemes, including laws governing contracts, commercial affiliations, employment, real estates, personal possessions, business development and governance among others. Consequently, meeting the requirements of the law is unsatisfactory in the current business environment (Ferguson, 2010). Business ethics centers on how business entities and their directors, officers and employees may go ahead of regulatory conformity in their decision-making procedures.
Ethical considerations consist of identification of stakeholders and their concerns, the application of various frameworks to the business decision-making progression and corporate social responsibility. Legal and ethical considerations generate risks for businesses (Gottschalk, 2010). Even so, it is of importance that business organizations shun, minimize or manage these risks. In addition, a realistic perceptive of law and ethics has become a critical component in business decision-making and strategy. Businesses cannot rely exclusively on outside guidance or in-house legal staff to administer all risks. Managers require an indulgent of the legal and moral surroundings in which they function.
Entrepreneurs should follow legal procedures and legal aspects when constituting a business (Gottschalk, 2010). Countries use law to defend and safeguard one party from another. Laws safeguard customers from exploitation by business entities that sell consumer goods both in retail and wholesale (Gottschalk, 2010). Laws also shield companies from other companies from unfair competition. In addition, regulations also defend citizens of particular countries and corporations from the government (Ferguson, 2010). Rules and regulations have flourished at all levels of the organization, and thriving manager’s requirement to comprehend when and how to incorporate legal considerations into their business planning and operations. Even so, leaders should recognize the ethical dimensions of decisions and decide wisely in difficult situations that may face the organization (Ferguson, 2010. It is imperative for entrepreneurs to evaluate the diverse probable legal business structures to make sure that it goes well with their intentions before establishing the actual business (Gottschalk, 2010). Some of the obstacles confronting prosecutors include criminal intent, pillars of the community, elite defense attorneys and complex cases. Even so, business entities should practice fair competition within the market and ensure they offer standardized goods and services to c...