Business Law: Application, Analysis, and Legal Formation of Venture Companies

This presentation covers the basics of business law, including employment law, legal formation of different types of venture companies, management and funding of companies, and analysis of various types of venture firms' advantages and disadvantages. It provides legal solutions and advice for different cases and evaluates their effectiveness. The presentation is suitable for students studying business law or anyone interested in learning about the legal aspects of running a business.

Unit 7: Business Law

Table of Contents
• PART 2
• INTRODUCTION
• MAIN BODY
• Application and Analysis of Employment Law
• Legal formation of Different types of Venture companies
• Explanation on management and funding of companies
• Analysis of various types of venture firms advantage and disadvantage
• Each case legal formation
• Suggestion on the mentioned case through appropriate legal solution
• Justification for the given solution and advice
• Recommendation on the given effectiveness through contrasting and comparing
• Critically and evaluating the suggested legal solution
• CONCLUSION
• REFERENCES

INTRODUCTION
• Corporate law or commercial law is also known as business law.
• Trade, commerce, sales and merchandising engagement with the relations, rights of business and person is applied by body of law in known as
business law.
• Employment laws, consumer goods sales, intellectual property, taxes, etc. are types of business law. Business and the commerce was governed by
the commercial or business law (James and Thomas, 2020).
• The report will identify the application and analysis of laws and on each case the legal formation will provide.
• Further, the report will provide the solution with suggestion.

Application and Analysis of Employment Law
• The relationship between the trade unions, workers, governments and employing
entities are referred as labour laws.
• The laws relating to employees or labour are National Minimum Wage Act 1998,
across the UK the employers and employees were set to national minimum wage
under the act (Bagenstos, 2020).
• Employment Rights Act 1996, in the situation of the maternity leave, dismissal,
paternity leave, redundancy and the unfair dismissal rights of the employees were
covered under the act. It is the update version of the Labour Law.
• Through the contract of work the law concerned with the right of employees with the
individual labour.

Legal formation of Different types of Venture
companies
• In the world of business there are several types of business and every company is legally formed. The types of business structures are:
• Sole Proprietorship- Only one individual own the unincorporated company under a sole proprietorship.
• Limited Liability Companies- The most flexible type of business are the Limited Liability company.
• Partnership- Two or more people who owned a firm is known as partnership firm.
• Corporation- Shareholders created a separate legal entity from the corporations.

Explanation on management and funding of
companies
• In the world of business there are available different types of funding options.
• Funding can be considered by any business either voluntary, private or public companies.
• Legally and appropriately the operations and the functions of the business can be managed.
• The different types of funding sources are venture capital, bank loan, family business and angel investor.
• There are the available options for the businesses to choose the funding source accordingly as per their suitable.

Analysis of various types of venture firms
advantage and disadvantage
• Advantages of different types of venture firms-
• Filing of papers is not required in different ventures type which will help the owner in easy
set up of business.
• The responsibility of the firm were distributed between two or more peoples which brings
talent to run business smoothly.
• Disadvantages of different types of venture firms-
• In some firms such as partnership firms the owners have to pay the debts form there
personal assets.
• Borrowing of the money is difficult for starting of business in different business ventures.

Each case legal formation
• Case 1-
• The first case is of the Gordon who works in the outlet of Orange Computer Limited Outlet.
• There is affect to the business performance and the profitability in 2015 due to the competition of cut-throat.
• Case 2-
• The second case was related to the Janet, to install and purchase the packaging of internet.
• The installation was done by the engineer but on the switchboard there is no telephone point.
• Case 3-
• In the third case of Blackhorse Limited, there was a bad debt to the company due to its largest customer who is not able to pay the amount.

Suggestion on the mentioned case through
appropriate legal solution
• The best and the appropriate solution for the Gordon case is the contract Law.
• The Contract Law 1994, the buyers and the sellers provided the protection in the
law.
• In the second case of Janet, there is also the most appropriate law is the Contract
Law 1994, which helps the both parties in reduction of disputes.
• The best solution for the third case of Blackhorse Limited company is the
Insolvency Act 1986.
• In the United Kingdom the Insolvency act 1986 provides the legal platform to the
corporate and the personal insolvency for all the insolvency related matters.

Justification for the given solution and advice
• In the case of Gordon the Contract Law 1994 which is suitable in the case.
• The contract was done between both the parties on the agreement of the concerns.
• Contract between the parties came from the Contract Law 1994.
• The law of contract helps in signing the agreement between both the parties through the mutual agreement.
• After signing of the agreement if the person disagree for the contract then the other party can file a case against the person.

Recommendation on the given effectiveness
through contrasting and comparing
• In the Case 1 the Contract Law 1994, Case 2 the Contract Law 1994 and in the Case 3 the
Insolvency Act 1986 was mostly used.
• The Contract Act and the Insolvency Act was majorly recommended for the effectiveness.
• The recommendations for the contrasting and the comparing of the effectiveness are:
• Contract Law 1994- The major conditions and the terms were explained with the help of
the act before starting of business.
• Insolvency Act 1986- There can be the wind up of the company in the legal way with the
help of the act. Insolvency act plays a vital role for winding of company.

Critically and evaluating the suggested legal
solution
• To help in indicating of resolution of the disputes there are the different sources available for the legal advices.
• To maintain the peace and solving of the disputes it helps organization and the people in creating of the advice.
• Understanding of the different parties and the creating of the harmony it plays a vital role.
• From the help of the legal advice the small and the medium scale disputes can be easily solved.
• Disputes of the companies can be solved easily through different methods:
• Disagreement of the determination.

CONCLUSION
• It has been concluded from the above report that the involvement of the maintaining of the
orders, establishing business standards.
• Disputes resolving and the protecting of the rights and the liberty as a section of code is
referred as the business law.
• The law for sales, manufacturing and the contract law were included in the part of the
business law.
• The report included the different types of legal formation of firms.
• Further, the report provided the advantages and the disadvantages of different types of
venture firms.

REFERENCES
• Books and Journals
• Anderson, H., 2021. Administration and Insolvency: The United Kingdom Approach. In Banks and Remedies (pp. 313-318). Informa Law from
Routledge.
• Bagenstos, S.R., 2020. Consent, coercion, and employment law. Harv. CR-CLL Rev. 55. p.409.
• Bessière, V., Stephany, E. and Wirtz, P., 2018, March. Crowdfunding, business angels, and venture capital: new funding trajectories for start-ups?.
In 2nd Emerging Trends in Entrepreneurial Finance Conference.
• Boylan, D.H., Nesson, D. and Philipps, J., 2018. Understanding crowdfunding for business funding–a legal and platform review. Journal of
Accounting & Organizational Change.