Advantages

• Although history reveals plenty of cases where skirting business law brought financial advantages to individuals or groups, violating ethics and legality may also alienate a business from society and limit its longevity. Therefore, considering local ethical norms and business laws can increase opportunities for a business.
  
  

Resources

• The European Corporate Governance Institute, or ECGI, and the American Bar Association, or ABA, serve as two resources for business law and ethics information. In particular the ABA promotes the idea of "thought leadership," recognizing that ideal corporate governance comes from effectively training the mind.
  
  

Details

• Corporate leaders also have a financial and legal responsibility toward their shareholders, employees and creditors. Part of this responsibility translates into knowing the corporate tax laws in such a way that the company pays less in taxes, thus increasing profitability.