Business Law: Formation, Management, Funding and Legal Solutions

This presentation discusses the basics of business law, including the formation of businesses in the UK, management and funding of businesses, and legal solutions. It also includes examples and advantages and disadvantages of different methods. The chosen organization is OMPEG, a networking group organization that promotes entrepreneurship in the UK.

UNIT 7 BUSINESS
LAW

TABLE OF CONTENTS
 INTRODUCTION
 FORMATION OF BUSINESSES IN UK
 MANAGEMENT AND FUNDING OF BUSINESS
 EXPLANATION OF DIFFERENT LEGAL SOLOLUTIONS
 CONCLUSION
 REFERENCES

INTRODUCTION
 Business law is that section of the law which governs the business and
commercial activities.
 It is also considered as the branch of the civil law that deals with both the
issues of private and public cases.
 In this project the chosen organization is OMPEG which is a networking
group organization that are based on the exclusive promotion of the spirit of
the entrepreneurship in UK.
 This project will explain the process of formation of business in UK with
different examples.

FORMATION OF BUSINESSES IN UK
PARTNERSHIP
 Partnership business is generally the relation between two or more entity for
carrying out a common business activity with the main motive of profit.
 General partnership is nothing more than the collection of the individual partners
and all the partners have unlimited liability for the firms debts and other
obligations.
 There are other kinds of partnerships in which the liabilities of the partners are
limited.
 The formation of the partnership can be made without the need of registration of
any external authority

CONTINUE..
COMPANY
 The formation of a private or public limited company in UK involves the following
steps,
 It needs to be online with authorization of the company through a formation agent. In
this utilization of website helps in directly linking with the companies house.
 The web incorporation service of the organization helps it in enabling the incorporation
of the basics of the private limited company and being limited to the shares of the model
of articles of association and “ordinary shares”.
 Providing all the paper related details to the company house which is long and more
expensive process.

MANAGEMENT AND FUNDING OF A BUSINESSES
GENERAL PARTNERSHIP
 It is the easiest types of partnership which is managed by the partners which are
present have developed a relationship to work together in the development of the
effectiveness.
 For this business the funds are gathered from the partners general as their personal
assets are used for the repayment of the liabilities of the partnership.
 It also means that the partners are responsible for the actions of the businesses thus,
their business helps the organization to keep up with its business.

CONTINUE..
BANKS LOANS :
 Bank loans are methods of funding in which the organization takes loan from
financial institution which are generally bank. These loans are replayed in
instalments and with additional interest (Nguyen and Barth, 2020).
CROWD FUNDING :
 It is the practice of funding the business with raising small amounts of money from
a larger group of investors.
ANGEL INVESTORS:
 These are investors which are private and wealthy individuals which focuses on
financing of the small businesses for exchanging the equity.

EXPLANATION OF DIFFERENT
LEGAL SOLUTIONS
 The legal solutions are the inclusion of preparation of legal documents, client
representation and consultation of some industrial application of the legal services
which include the intellectual property law.
 There are different types of legal solutions,
 Mediation :
 Mediation is the method which is non binding dispute of resolution which involves
the neutral third party which is helpful for the disputing of neutrally agreed
solutions.
 This legal solution is known to be voluntary, party centred, non binding and
confidential towards its structural process.

CONTINUE..
 Arbitration :
 It is the procedure which is the dispute towards the submission of the agreement of
the parties which is considered to be arbitration of the binding of decision-making
for the dispute.
 For this method the advantages are,
 It is a general arbitration of the proceeding which results in the quicker dispute
resolution than in the court system.
 This process is very less formal and is considered to be very effective towards the
less formal behavior of the organization.

CONCLUSION
 With the help of this project it can be concluded that business law is
considered to be very effective way form of business regulations standards
that can help the business in the development of the organization
advantages.
 In this project the stages of formation of business is discussed. This project
also talks about the different forms of funding of the business.
 It also explained the advantages and disadvantages of different legal
solutions.

REFERENCES
 Books and Journals
 Broome, M.E., Bowersox, D. and Relf, M., 2018. A new funding model
for nursing education through business development initiatives. Journal
of Professional Nursing. 34(2). pp.97-102.
 Crick, J.M. and Crick, D., 2018. Angel investors’ predictive and control
funding criteria: the importance of evolving business models. Journal of
Research in Marketing and Entrepreneurship.
 Lapidus, A. and Abramov, I., 2018. Formation of production structural
units within a construction company using the systemic integrated
method when implementing high-rise development projects. In E3S Web
of Conferences (Vol. 33, p. 03066). EDP Sciences.