Entrepreneurship and Law - Research Paper Example

Journal Entries related to Law and the activities of an Entrepreneur Journal Entries related to Law and the activities of an Entrepreneur Week 1: An SEC Rule Change Opens a New Era for Crowdfunding: A recent rule change will allow entrepreneurs seeking investors to reach a much broader audience. The author of this article primarily discusses the effects that the new rule will have to the entrepreneur. A great change was made by the Securities and Exchange Commission. For many years, this commission has held a ban on the ability of the public to solicit for private investments. With the establishment of the SEC rule, most of the entrepreneurs and potential investors will get the opportunity to seek out more chances that will be made available through the pop up feedback messages on Facebook. It thus acts as an example of how appropriate laws can help in promoting the innovative and profitable activities within the society. It can be attested that this is a huge step towards the promotion of entrepreneurial activities since it gives entrepreneurs the opportunity to contact more investors. In this relation, more laws and rules that are still oppressive and restrictive to the profitable activities of entrepreneurs should be revised to open more opportunities and help to enhance economies (Medved, 2013). However, since it is an activity that involves new technological advancements in relation to the use of social networking sites, it will be imperative to come up with new legislation and laws. This will create platforms through which the entrepreneurs and investors can conduct their operations in ways that are legally acceptable. In addition, they will serve as means through which internet crimes can be prevented hence the maintenance of social media security. Week 2: In Quest for Legal High, Chemists Outfox Law. The main item being brought up in this article is the activities of different entrepreneurs. These are the individuals who are occupied in the legal manufacture and sale of new psychoactive substances. However, they market them as “not for human consumption”. A great contradiction is highlighted in this article in the sense that drugs, which are usually considered as illegal substances can be legally, sold in areas such as Belgium hence the title ‘legal high”. According to the article most people are putting an end to other business activities to get involved in the business of making drugs. This involves the production of powders and pills that are psychoactive in nature (Whalen & Zhang, 2010). In relation to this article, I think that the governing body at Antwerp and Belgium in general should conduct more research about these drugs that are considered to lie in between the legal and illegal zones. This is because it is a great indication that as much as they are legal they are not safe for consumption. It is sustained by the fact that the producing entrepreneur admits that the Nopaine drug they manufacture “is every bit as good as cocaine” This signifies that its actions are similar to that of crack. The government and especially the legal system should be able to realize that a drug which acts in the same way as an illegal drug is just a different form of the drug. This is also because it is marketed as not fit for human consumption which should attract the adoption of new laws to make them illegal. Week 3: NGOs join to promote social entrepreneurship The collaboration of various NGOs throughout the Turkish region to promote the social enterprises that provide employment for marginalized groups that include the disabled, orphans, ex-convicts and women is highlighted as the principle issue in this article. There is a total of 4 NGOs from varied regions that include Turkey and Serbia to form an agreement in the form of signing a declaration to develop social entrepreneurship. After this idea was posted on the internet, more than four hundred NGOs have been able to sign and take part in the agreement. They plan to implement different measures and economic activities to give those who are socially marginalized employment opportunities. This article not only highlights the common form of entrepreneurship that is mostly concerned with economic and financial aspects, but also brings in a new form of entrepreneurship in the form of social elements. These are both interlinked to cater for both the social and economic aspects of the individuals (USAK, 2013). In my view, the concept is extremely beneficial in the sense that it recognizes those who have not been offered the prospect to develop their entrepreneurial skills within the community to do so. With the presence of a legal document to guide the activities and operations, it is likely to benefit those who are marginalized socially in the society. The NGOs are thus bound by the contract to fulfill their part of the bargain. This kind of an agreement will therefore extend for a longer time and help the less privileged in the society to develop themselves and become empowered. Week 4: Focus: Asylum seekers: Is there a need for a universal law on how to deal with asylum seekers? Jenabzadeh talks about the issue of refugees who are looking for Asylum in Australia and the fact that they are usually kept in detention camps. According to the Australian government, this move seeks to prevent smuggling activities across the border. A dilemma is presented in the article on the idea of whether to uphold the security of citizens or the rights of refugees. I strongly believe that this law is biased as it mostly aims towards the refugees who are getting into Australia. Asylum seekers do not always cause bad to the countries within which they enter (Jenabzadeh, 2014). The aim of the law is meaningful since it is the key responsibility of every country to protect its citizens and country against any potential security threats. Although people from other countries may carry other unknown diseases or risky conditions, it is not lawful to put them in detention centers unlawfully since they have human rights and need to live in a secure way. The serious actions targeted should only involve the law breakers and not generalize all the refugees. This is because subsequently, it can be considered as a violation against their human rights. As the article reveals the authorities should look for a more humane form of dealing with the problem. With this, a more universal law should be developed to deal with the asylum seekers and refugees getting into a country. Week 5: Dmitry Firtash charged with bribery - US Justice Department The case in this article involves the charging of one of the most influential oligarchs in Ukraine. As indicated he was involved in acts of bribing the Indian authorities in the effort to gain access into the Titanium mines. Together with Firtash there are five other people who are under investigation. Other individuals have also been jailed in relation to the same issue. A total amount of $ 8 million was given to the officials in India since 2006 for the suspects to obtain rights for the mines. The mining project was expected to generate an annual amount of $ 50 million. Firtash was released from prison on a $ 72 million bond. Firtash is one of the richest people in Ukraine. However, he is being searched for by the government of the United States for allegations of bribing and the formation of a criminal organization. He nonetheless claims that these arrests are motivated by political factors. He is reported to have paid the whole bail amount which is recorded as the largest ever required by the Australian legal system. Despite this, he still remained in prison as the police performed an investigation on the source of the money (Novosti, 2014). I do not feel that this is an appropriate action since the payment of bail is supposed to hand an individual his freedom for the time specified by the courts. It is an infringement of rights to hold the suspect prisoner after he has paid bail. The police should conduct their investigations while he is out of prison since he has made a promise not to leave the country according to legal requirements. Any crimes linked to him after the investigations should be revealed and heard at the time of hearing. References Jenabzadeh, Donia. (2014). Focus: Asylum seekers: Is there a need for a universal law on how to deal with asylum seekers? Gulf news, 3 April. Medved, Jonathan. (2013). An SEC Rule Change Opens a New Era for Crowdfunding: A recent rule change will allow entrepreneurs seeking investors to reach a much broader audience. The Wall Street Journal, Oct. 9. Vol. 262 (86): p. 17 Novosti, Ria. (2014). Dmitry Firtash charged with bribery - US Justice Department. The voice of Russia, 3 April. USAK. (2014). NGOs join to promote social entrepreneurship. The Journal of Turkish weekly, 3 April. Whalen, Jeanne & Zhang, Kersten. (2010). In Quest for Legal High, Chemists Outfox Law. Wall Street Journal - Eastern Edition. 10/30/2010, Vol. 256 Issue 103, pA1-A13. Read More