Riordan Compliance Plan Law 531 Final
Corporate Compliance Plan for Riordan Manufacturing
University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the compliance plan will be on managing the legal liabilities of Riordan officers and directors. Riordan Manufacturing was started and founded by Dr. Riordan, a professor of chemistry. The company focused on research and development of plastic substrates. In 1992 the company purchased a fan manufacturing plant in Pontiac, Michigan. In the year 2000, the fan operation was moved to China. The corporate headquarters that include research and development is located in San Jose, California. Plastic beverage containers are produced in Albany, Georgia and custom plastic parts are produced in Pontiac, Michigan (Virtual Organization, 2009). The compliance plan will include an Alternative Dispute Resolution (ADR) to resolve a dispute, product liability to address risks against defective product claims, international laws regarding the plant in China, tangible and intellectual property laws, laws regarding the corporate form of business and protection to the interests of public and private investors through a Corporate Governance Plan. Alternative Dispute Resolution (ADR) The definition of an alternative dispute resolution (ADR) according to the book Business: Its Legal Ethical and Global Environment written by Marianne Moody Jennings
University of Phoenix Riordan Manufacturing is a profitable plastics manufacturer with annual earnings of $46 million. The company is wholly owned by Riordan Industries, a Fortune 1000 company with revenues over $1 billion. The following are some of the products produced by Riordan Industries: plastic bottles, fans, heart valves, medial stents, and custom plastic parts (Virtual Organization, 2009). This compliance plan will state the company's legal responsibilities and regulations necessary to continue earning a profit. The plan will address the laws affecting the plastic industry and guidelines to ensure management and employees understand and obey the laws. The focus of the compliance plan will be on managing the legal liabilities of Riordan officers and directors. Riordan Manufacturing was started and founded by Dr. Riordan, a professor of chemistry. The company focused on research and development of plastic substrates. In 1992 the company purchased a fan manufacturing plant in Pontiac, Michigan. In the year 2000, the fan operation was moved to China. The corporate headquarters that include research and development is located in San Jose, California. Plastic beverage containers are produced in Albany, Georgia and custom plastic parts are produced in Pontiac, Michigan (Virtual Organization, 2009). The compliance plan will include an Alternative Dispute Resolution (ADR) to resolve a dispute, product liability to address risks against defective product claims, international laws regarding the plant in China, tangible and intellectual property laws, laws regarding the corporate form of business and protection to the interests of public and private investors through a Corporate Governance Plan. Alternative Dispute Resolution (ADR) The definition of an alternative dispute resolution (ADR) according to the book Business: Its Legal Ethical and Global Environment written by Marianne Moody Jennings
References: Applegate, D. (1999). Struggling to incorporate the COSO recommendations into your audit process? The Institute of Internal Auditors. Retrieved January 9, 2010, from http://www.cosco.org/audit_shop.htm COSO-Committee of Sponsoring Organizations of the Treadway Commission home page. Retrieved January 9, 2010, from http://www.coso.org/default.htm Jennings, M. (2006). Business: Its legal, ethical, and global environment (7th ed.). Stamford, Connecticut: Cengage Learning Murner, C. (2009). Plastics, Electronics and the Environment: How New global Regulations Affect Material Choices. Plastics Technology. Retrieved January 9, 2010, from http://www.ptonline.com/articles/200610fa2.html Virtual Organization: Riordan Manufacturing. (2009). Retrieved January 9, 2010, from University of Phoenix, Law/531 Web site: https://ecampus.phoenix.edu/secure/aapd/cist/VO _ _