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Law for Business Mr. Bernstein Notes, pp 261-270 Consumer Protection January 20, 2015.

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Presentation on theme: "Law for Business Mr. Bernstein Notes, pp 261-270 Consumer Protection January 20, 2015."— Presentation transcript:

1 Law for Business Mr. Bernstein Notes, pp 261-270 Consumer Protection January 20, 2015

2 Law for Business Mr. Bernstein Why do we have Consumer Protection laws? For most of its history, US laws followed the doctrine of caveat emptor Consumer protection laws help promote fair competition amongst businesses attempting to provide value to customers 2

3 Law for Business Mr. Bernstein Consumer Protection Laws Safety Standards Food and Drug purity Proper weights and measures Price fixing and collusion False advertising Warning labels Confusing Brand Names & Trademark Infringement Telemarketing 3

4 Law for Business Mr. Bernstein Consumer Product Safety Commission (CPSC) Established in 1972 Issues and enforces safety standards for most consumer and health-care products Operates toll-free tip line 4

5 Law for Business Mr. Bernstein Consumers Have a Right To Safety Information Choice Be Heard Redress Consumer Education Healthy Environment 5

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