Business Law: Legal System, Legislation, Business Structure and Funding

BUSINESS LAW

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Part A...........................................................................................................................................3
Reflection of the legal system......................................................................................................3
Legislation that business needs to be aware...............................................................................4
Different laws that business has to follow...................................................................................5
Business legal Structure...............................................................................................................6
Types of Funding.........................................................................................................................7
Part B...........................................................................................................................................8
Overview of employment, contract and company law.............................................................8
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Business law has been define asset of rules and regulation that is been followed by the
organization in order to run their business in effective way. It includes law such as contract,
employment, minimum wages, copyright acts. Along with this, it is important for organization
so that it can reduce the intervention of government as well NGOs as it can harm brand image.
In addition to this, present report will discuss about various business structure that is followed
by firm in order to sustain in market. Furthermore, it will give brief discussion about the
funding used by various organization so that it can invest in functional units of the company.
Lastly, it will provide legal solution to the three case studies of the business law.
MAIN BODY
Part A
Business law refers to the rules and regulation which is formed for the commercial enterprises
that solve the issues. The government of the nation along with the members of the parliament
form in order to deliver justice to the people and punish the criminal in appropriate manner. The
law which is decided by the legislation is mandatory to followed by each and every citizen of the
country. This legal system include aspects of the business which involves formation process of a
company, unions and acquisitions, stockholders right as well as property matters for example
rental office or warehouse planetary. The legal system of the United Kingdom consist of three
laws as per the region (Aikens, 2020). the UK law is consist of five principle sources which are
legislation, case law, European union law and European convention of human right. The
government play essential role in law making process but cannot form new law or imposed new
taxes without the agreement of the parliament. The members of the parliament are appointed by
the election process of the nation. The government do not have decision power along with that
the government cannot pass the law without parliament’s approval. The common law is the legal
system in which the judge deliver the decision in favour of innocent person by hearing the case.
The statutory law is the element of the law which is created by the legislature in the form of
legislation.
Reflection of the legal system
The legal system of united kingdom consist of separate law system in the UK. The law is for the
benefit of the common people and the business units in order to deliver the justification. With the

assistance of legal system, the government of the country maintain the peace in the nation and
protect the minorities against the people of the majorities by delivering right rules and regulation
in the nation. It provide proper justice to the people of the country in order to protect them from
ay from of illegal or criminal activity (Strickson and De La Iglesia 2020). For instance, if the
person conduct and sort of activity which is considered by the is illegal then the person supposed
to be victim and punishable by the law. The murder and manslaughter id considered as the crime
by the authority of the nation. If the person murder someone then the legal system will take strict
action against them in order to punish the culprit by announcing imprisonment or penalty. The
weakness of legal system like common law is that the constitution still deliver on the bases of
ancient concept in the modern era. It will consume lots of time in decision making process
because the modification required time to deliver the best decision in favour of innocent person
and punish the criminal in a proper manner. due to old precedents some time the legal system is
not able to provide justice in effective as well as efficient manner.
Legislation that business needs to be aware
There are various laws that an organization has to follow while running the business while
some of that is compulsory in nature or other can be for limited frame of time. Moreover, o
companies has to abide such laws as it will help the organization in avoiding the legal suits as it
can affect the overall brand image of the firm in negative way. Along with this, legal suits cam
create various issues for the organization as it can affect brand name in the market and firm
can lose their potential customer. Moreover, due to Covid government of UK has amended
new rules that need to be followed by firm such as following precaution related to virus.
Likewise, social distance and sanitizing the place and to lay emphasize on safety of customer
and employees (Mees-Buss, Welch and Westney, 2019). However, if any employee is not able to
follow such rules then it has to pay fine to the government. Furthermore, Laws related to
employment need to be followed by the organization such as minimum wage rate, working
hour, contract of employment need to be made by the organization. Along with this, there
should be no discrimination with the employees on the basis of cast, religion and gender
everyone should be treated with respect and dignity. In addition to this, contract between
worker and organization should include true details about the company policy and job
responsibility and each employee should have copy of contract.