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2 weeks ago
Discuss judicial actions as an implementation strategy for nonmarket issues.
Source  Download Study Guide
Business and Its Environment
Edition: 7th
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Judicial actions pertain not only to those cases in which a firm finds itself the defendant but also to those in which it initiates legal action as a component of a nonmarket strategy. Judicial actions are taken in state and federal courts, which are governed by statutory and common law. Judicial actions are also taken in quasi-judicial arenas, such as those of regulatory and administrative agencies, which are governed by administrative law. Judicial strategies are used to enforce rights, obtain damages for breach of contract, and address unfair competitive practices under the antitrust laws. Judicial action, particularly in the courts, can be costly. Regulatory and administrative law channels may be used for a variety of purposes, including protecting rights, handicapping a competitor, or gaining a direct advantage.
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