Corporate Compliance Plan
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Running Head: Corporate Compliance Plan
Corporate Compliance Plan
November 16, 2010
Introduction
To develop a corporate compliance plan for Riordan Manufacturing six areas of concern will be addressed; Alternative Dispute Resolution (ADR), enterprise and product liability, international law, tangible and intellectual property, legal forms of business, and governance. Also included are the relevant compliance standards and procedures, employee-training programs, monitoring and auditing systems. As well as the enforcement, procedures and responses where there is any breach of the compliance plan, what actions will be taken, and what corrections are needed to be made.
Organization Overview
Dr. Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates, founded Riordan Manufacturing. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics, Inc. in 1991 (University of Phoenix, 2006). Dr. Riordan’s focus was on research and development (R&D) and the licensing of its existing patents, but in 1992 the company obtained venture capital, which was used to purchase a fan manufacturing plant in Pontiac, MI. At that time, the company's name was changed to "Riordan Manufacturing, Inc." In 1993, the company expanded into the production of plastic beverage containers when it acquired a manufacturing plant in Albany, GA (University of Phoenix, 2006).
Alternative Dispute Resolution
All discrepancies, discord and conflict that sometimes occur amongst employees, associates and management at any given time are subject of leadership, and negligence of compliance guidelines set forth shall prompt the use of an alternative dispute resolution (ADR). The ADR clause is non-inclusive of personal conflicts arise within the company unless the productivity is compromised. Employees are encouraged to implement the chain of command by contacting an...
Corporate Compliance Plan
November 16, 2010
Introduction
To develop a corporate compliance plan for Riordan Manufacturing six areas of concern will be addressed; Alternative Dispute Resolution (ADR), enterprise and product liability, international law, tangible and intellectual property, legal forms of business, and governance. Also included are the relevant compliance standards and procedures, employee-training programs, monitoring and auditing systems. As well as the enforcement, procedures and responses where there is any breach of the compliance plan, what actions will be taken, and what corrections are needed to be made.
Organization Overview
Dr. Riordan, a professor of chemistry, who had obtained several patents relative to processing polymers into high tensile strength plastic substrates, founded Riordan Manufacturing. Sensing the commercial applications for his patents, Dr. Riordan started Riordan Plastics, Inc. in 1991 (University of Phoenix, 2006). Dr. Riordan’s focus was on research and development (R&D) and the licensing of its existing patents, but in 1992 the company obtained venture capital, which was used to purchase a fan manufacturing plant in Pontiac, MI. At that time, the company's name was changed to "Riordan Manufacturing, Inc." In 1993, the company expanded into the production of plastic beverage containers when it acquired a manufacturing plant in Albany, GA (University of Phoenix, 2006).
Alternative Dispute Resolution
All discrepancies, discord and conflict that sometimes occur amongst employees, associates and management at any given time are subject of leadership, and negligence of compliance guidelines set forth shall prompt the use of an alternative dispute resolution (ADR). The ADR clause is non-inclusive of personal conflicts arise within the company unless the productivity is compromised. Employees are encouraged to implement the chain of command by contacting an...