Business Law: Types of Business Structures in the UK and Recommendations for IOM Solutions

Business law

Table of Contents
INTRODUCTION ..........................................................................................................................2
TASK ..............................................................................................................................................3
Business&Organisations in the UK............................................................................................3
The legal business structure of UK companies..........................................................................4
Recommendations for IOM Solutions. ......................................................................................7
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Business law is a consolidated set of legislation which together covers operations of
business organisation and its operations. Business law includes substantial and procedural law in
which rights and liabilities of parties are determined and in procedural law procedure relating to
business commencement, incorporation, winding up, resolving disputes in courts and other
miscellaneous provisions of businesses. The gist of a business law is to establish relationship
between employer and employee and to promote and regulate business in an ethical manner. In a
business organisation, an employer is the head of a business who regulates overall structure and
employees are the faculties which keeps the business operative (Collinson and et.al., 2020). All
these business operations and activities requires certain level of command to prevent misconduct
or any sort of problems at workplace (Knapp 2020.). Law is essential for ruling business
activities, because without rules and regulations no business can survive. There are various Acts,
legislation and laws made applicable on business activities and their application extend within
the territories of United kingdom. This report will cover various types of potential business
structure which are prevailing in UK along with their nature and management. Further, this
report will highlight on types of business management, vicarious liability, duties of directors,
termination of partnership, Memorandum of Association and Article of Association and the
legality of a business structure. A Sole trade company is taken to support this report which the
owner of such company is seeking potential business option in order to expand current business
structure. The report will demonstrate different business alternatives which IOM solutions can
choose to expand its sole trade business structure.
TASK
Business&Organisations in the UK
Businesses are organised to generate profits and to meet the demands of the people.
Business includes activities like purchasing of raw materials and machineries, manufacturing and
production of goods, distribution and many more. These activities of a business enables to
identify the nature of business in which they deal. Business usually deals with goods and services
and commercialize their products in market. The success of a business de[ends on many factors
like, quality of its product and services, marketing and reputation of a company.