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LSDefine

Simple English definitions for legal terms

free enterprise

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A quick definition of free enterprise:

Free enterprise is a system where people can make and sell things for money without the government telling them what to do. It's like a big competition where businesses try to make the best products and sell them for the best price. This is different from communism, where the government controls everything.

A more thorough explanation:

Free enterprise is a system of production and distribution that is conducted privately and with consent. It is usually done for profit in a competitive environment that is relatively free from government interference. This system is also known as capitalism.

In a free enterprise system, individuals and businesses are free to produce and sell goods and services as they see fit. They are also free to compete with one another for customers and profits. The government's role is limited to enforcing laws and regulations that protect consumers and ensure fair competition.

  • A small business owner opens a bakery and sells baked goods to customers in the local community. They are free to set their own prices and determine what products to sell.
  • A tech startup develops a new app and offers it for sale on the app store. They are free to market their product and compete with other app developers.
  • A farmer grows crops and sells them at a local farmers market. They are free to choose what crops to grow and how much to charge for them.

These examples illustrate how individuals and businesses in a free enterprise system are free to produce and sell goods and services as they see fit. They are also free to compete with one another for customers and profits. This competition helps to drive innovation and improve the quality of goods and services offered to consumers.

free election | free entry, egress, and regress

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RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.
The profile links are not working for me. anybody else?
13:18
i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march
CheeseIsMyLoveLanguage
13:24
@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)
14:30
Sent an app to OSU in early december and have STILL not heard back
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