DeVry University Introduction to Business/ Professor PaigeThe Influences of Law in BusinessRichard HerendeenMay 23, 2014There are several laws in the United States that are intended to set a standard for fairness, balance, and practices competitive businesses. These are, by design, a way to ensure that international and domestic trade occur in a respectable and progressive manner. There are many aspects that come into play when evaluating whether a company operates correctly; a vision can be related to The Eagle and The Condor Theory. “There is no universally recognized definition of fair trade, but its principles and practices include fair wages, cooperative workplaces, consumer education, environmental sustainability, direct trade with producers, financial and technical support for producers, development of community, respect for cultural identity and public responsibility through transparency”. (Stenzel, 2012). Related to this description of fair trade, there are laws in the United States that aim to regulate the business. One such law is the Federal Trade Commission Act of 1914. The Federal Trade Commission Act of 1914 was established to prevent unfair competition between businesses. It also allowed the formation of a Commission (FTC, or Federal Trade Commission) to regulate businesses and enforce the law, which oversees many different things, from false advertising to false claims about where a product is made. The law also allows the Federal Trade Commission to investigate and report such leaks to Congress. (www.ftc.gov). While I agree that such regulations are necessary to maintain an open and free market, I can understand both the positive and negative aspects of such... middle of paper... Back to the Eagle and Condor Theory; It is important to remember all aspects of free trade. From consumer education to public responsibility, if we operate fairly and keep our consumers, our culture, and the good of all people in mind, we can sustain any environment. It is the responsibility of leading nations like the United States to pioneer better trading tactics and allow them to spread to the ends of the world to ensure that international trade evolves forever. References: Stenzel, PL (2012) the Pursuit of The Balance as the Eagle Meets the Condor: Supporting Sustainable Development through Fair Trade. American Journal of Business Law. Retrieved from http://eds.a.ebscohost.com.proxy.devry.edu/eds/pdfviewer/pdfviewer?sid=5a7e6902-f838-4caa-8415-7f12751748da%40sessionmgr4005&vid=4&hid=4203 on May 23, 2014.www. ftc.gov