Key Sources of Laws for Business Organizations in the UK

BSc (Hons) Business Management
BMP4002 Business Law
Assessment 2
Report describing the key sources of
laws as the legal context for business
organizations in the UK
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Contents
Table of Contents
Introduction .............................................................................................................................3
Businesses & Organizations in the UK..................................................................................3
The legal business structure of UK companies.....................................................................5
Sole Trader...........................................................................................................................5
General Partnership.............................................................................................................6
Partnership.......................................................................................................................... 6
Limited Liability....................................................................................................................7
Recommendations for IOM Solutions..................................................................................8
Conclusion................................................................................................................................ 8
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Introduction
UK business law is the collection of law and legislation which covers all the business related
aspects from commencing a business to its winding up. A business is a vital process wherein,
all the business operations being conducted. A business forms a relationship between
employer and employees,wherein an employer is a head of the business structure and
employees are the workforce which executes daily operations of a business. All these
business activities requires law, rules and regulations to regulate the relationship between
employers and employees and other business related operations (Atanassov and
Mandell2018). Business law is essential for regulating business activities because without
law no business can survive. There are several business laws and legislation which are in
operation and their application extent within the territories of United Kingdom. All the laws
relating to business are derived from English common law. In this report, several structure of
businesses will be discuss, along with nature and management of a company, types of
business management, vicarious liability, the roles opf directors their liabilities and duties,
termination of partnership , memorandum of association, article of association and the legal
business structure. To support this report a sole trade company named IOM solution is taken,
the owner of a company is a sole trader who wish to expand the business by seeking potential
alternative business plan. This report will demonstrate the availability of different alternatives
along with their advantages and disadvantages to recommend IOM solution an appropriate
potential business alternative for business expansion.
Businesses & Organizations in the UK
The nature of a business pertains to the type of business including its goals and objectives. It
also explains the legal structure of a company and their products or services and every factor
which a business organization does to attain targeted goals. The nature of a company reflects
the business challenges as well as its offerings in the market. A company is manage by its
management unit which divides into different departments such as, human resource
department, production and manufacturing department, marketing department etc. these
departments are the essential vital parts of a company which keeps the momentum of a
company going on. The management of a company includes, founders, promoters,the board
of directors, chief executing officers, shareholders, managers, workers and many more who
participate in attaining the goals of a company (Graesch Hensel-Börner and Henseler2020).
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