Business Law: Legal Business Structure of UK Companies and Recommendations for IOM Solutions

Business law

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Businesses & Organizations in the UK............................................................................................3
The legal business structure of UK companies................................................................................4
Recommendations for IOM Solutions.............................................................................................8
CONCLUSION ...............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The English Legal system is unique and vast. The uncodified legislation gives wide
power to the judges to interpret ate law and address the issue of general public. Business law
covers all the theories and principles that are applicable to businesses. It is a foundation stone of
the English legal system, as it includes law relating to tort, contract, employment and agency. It
defines the structure and formation of business and governs all the activities that take place
within an organisation. Law is basically a set of rules and regulations that are required to govern
the society and maintain law and order in the country (Bowman and Wyer, 2022). The various
forms of business organisation such as sole trader, partnership, limited liability partnership and
company etc. It is incorporated in accordance with the availability of finance and resources on
the owner. This report will cover various kinds of business organisation and recommendation is
made to IOM solutions in order to seek expansion of their sole trader business into other
alternative forms of business.
TASK
Businesses & Organizations in the UK
The UK business law is complex and provides range of protection to its employees and
employers. Company is considered as an artificial person as per Companies Act, 2006. A
company is registered in order to legally comply with all the terms and conditions as specified
under the law. It is a separate legal entity that are distinct from its owners. The different bodies
of an organisation such as employees, directors, shareholders and employees are important for
effective management of a company. Corporate law defined as the formation and governance of
corporate entities. The Corporate law is largest single piece of legislation that promotes the
healthy working environment and influence the behaviour of the employees within an
organisation. The major changes has been taken place under the corporate law which includes
provisions in relation to director's duties and powers, auditor's liability etc. The recent changes in
the industrial growth has increased the demand of corporate governance and leads to major
reforms in these areas (Cameron and Danson, 2018). The Act of 2006, also adopted some
theories and principles to simplify the company law and ease the mode of doing business.