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(Business Law question) Define crimes, and differentiate between felonies and misdemeanors, mentioning the penalties by which...

(Business Law question)

Define crimes, and differentiate between felonies and misdemeanors, mentioning the penalties by which each is punishable.

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Answer #1

Crime (In business sense): Crime is an offence that is committed by either company or any individual related to the company or on behalf of company. Crime is punishable offence under the corporate law. Crime is classified on the basis of seriousness of it.

Difference between felonies and misdemeanors- Are as following

  1. Misdemeanors is more serious than Infraction but Felonies are the most serious crime rather than misdemeanors.
  2. Misdemeanors is punishable for jail that is up to one year maximum while felonies are punishable for jail more than one year.
  3. Felonies are the crime that is taken more seriously and severely by the society. In Misdemeanors, there is greater degree of flexibility in charging the crime.
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