Management and Organizational Studies 2275A/B Chapter Notes - Chapter 22: Misrepresentation, Fiduciary, Law Society

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Businesses depend on professional services either supplied in-house or from outside firms. Professional = someone engaged in an occupation usually governed by a professional body, requiring the exercise of specialized knowledge, ed ucation, and skill. Professionals as service providers owe responsibilities to the business. Relationships with external professional service providers are defined by contract law. Professional who are employees are governed by basic principles of employment law. Professional-client relationship is a special relationship of trust and loyalty that goes beyond protection provided by contract. Professionals are held to higher standards than service providers. Professionals have eo that service providers do not. Professionals are bound by rules of professional conduct and codes of ethics established and administered by relevant governi ng bodies. Obligations bring level of independence and judgement distinguishing a professional from other employees and service provider s. If a professional violates rules and does not oblige to comply with professional obligations she risks disciplinary action by governing professional body.