Compliance with laws, rules and regulations obeying the law, both in letter and in spirit, is the foundation on which Magnifyde Ventures’s ethical standards are built. All employees must respect and obey the laws, rules and regulations of the cities, states and countries in which we operate.
Corporate Opportunities Employees are prohibited from taking opportunities that are discovered through the use of Magnifyde Ventures property, information or position for themselves without the consent of the board of directors. No employee may use corporate property, information or position for personal gain and no employee may compete with Magnifyde Ventures directly or indirectly. Employees owe a duty to Magnifyde Ventures to advance Magnifyde Ventures’s interests when the opportunity to do so arises.
Competition And Fair Dealing Magnifyde Ventures seeks to outperform the competition fairly and honestly. We seek competitive advantages through superior performance and never through unethical or illegal business practices.
The purpose of business entertainment and gifts in a commercial setting is to create goodwill and a sound working relationships, not to gain unfair advantage with customers or suppliers.
No gift should ever be offered, given, provided or accepted by any Magnifyde Ventures employee (or family member of an employee) or agent unless it :
- Is not a cash gift
- Is consistent with customary business practices
- Is reasonable in value
- Cannot be construed as a bribe or payoff and
- Does not violate any laws, regulations or applicable policies.
Discuss with your manager any gifts or proposed gift of which you are uncertain if it is appropriate.
Company Payments for services to third parties are consistent with local practice, law and ethical standards. Discounts on sales or purchases are administered and documented in the same way the sales or purchase contract on which they were based. (Same company, same country etc.) Expenses for entertainment must be reasonable, related to the business, supported by receipts and should be duly approved.
Quality assurance through standard operating procedures. To maintain Magnifyde Ventures’s valuable reputation, compliance with our quality processes is essential. All documents and working procedures must be handled in accordance with Magnifyde Ventures’s quality manuals by all Magnifyde Ventures employees.
Political contributions Magnifyde Ventures does not give political contributions (directly or through trade associations). Individual employees are free to make personal political contributions as they see fit.
Discrimination And Harassment The diversity of Magnifyde Ventures’s employees is an asset. We are firmly committed to providing equal opportunity in all aspects of employment and will not tolerate any illegal discrimination based on race, color, religion, sex, national origin or any other protected class.
Magnifyde Ventures does not allow the employment of children with respect to conventions 138 and 182 of the international labor organization.