Key Sources of Laws for Business Organizations in the UK

This report discusses the legal context for business organizations in the UK, including different business structures such as sole traders, partnerships, and limited liability companies. It also covers key laws and regulations that businesses must adhere to, such as employment law and contract law. The report concludes with recommendations for IOM Solutions to expand their business by forming a limited liability company.

BSc (Hons) Business Management
BMP4002 Business Law
Assessment 2
Report describing the key sources of
laws as the legal context for business
organisations in the UK
Submitted by:
Name:
ID:
Contents
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Table of Contents
Introduction ...............................................................................................................................3
Businesses & Organizations in the UK..............................................................................3
The legal business structure of UK companies.................................................................4
Sole Trader........................................................................................................................5
General Partnership..........................................................................................................5
Partnership........................................................................................................................6
Limited Liability.................................................................................................................6
Recommendations for IOM Solutions...............................................................................7
Conclusion..................................................................................................................................7
References..................................................................................................................................8
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Introduction
The Business is mainly the growth and the production with certain revenue generation
in which all the assets and the goods are being implemented. Their is seen that their carries so
many applicability in which all the new services are being given with innovative approach
and that to being made with all the general assets and the working nature. UK considers to
have so many different kind of business which are opted by them it mainly regulates all the
interconnected events, laws and the regulations which are being needed to be managed and
approached. Business law helps in regulating and prominently maintaining all the financial
generation and the other taxation structures. UK implies to have all the varied nature and
structure sin which some of the main are like Sole traders, limited liability company,
partnership and many more. All such business are being managed with the laws and the legal
applicability (Argyrou and Lambooy, 2020). This report will cover all the different variable
structure and also complies to have legal formalities and the recommendation for the work
and the effective management.
Businesses & Organizations in the UK
This is generally all such business and the management in which the companies
regulates and maintain the function and their adaptability with all the principles and the
policies. Their is been seen that all the management eventually maintain the human resource,
office, production and the other operations and working. It helps in regulating the financial
management and their variable process of working. As some of the main law which are being
considerably taken to manage the work are like, Employment law 1996 this provides all the
rights and the working of the employees to be manged withing it. This considers to have so
many adaptations and the standards with which all the discrimination and the other issues are
removed. Contract law which frames the agreements made between the parties in order to
regulate and manage all the laws and the legal rules enforceable by law. Their is been re
framed that other then this all the issues and the contemplation which are opted mainly
Companies act through HMRC and other various guidelines and the nature this maintain the
rules acts and the responsibilities with which the companies maintain their functions. Another
law is intellectual property this have all the intangible assets and the working which promotes
all the brand management and other intellectual functions like the patents, trademarks,
copyright and many more (Denoncourt, 2020). These are serves to have all the variable
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context and the rights through which they restore and protect the originality of all the
company an their working.
Business law also sets and manage all the commercial activities in which their
proliferates and regulate the tools through which the work in the company can be applied and
transact on daily basis. Vicarious liability is also mandates to be an important concept in all
the business dealings and functions as in which all the acts which are being done by the
employee on behalf of the employers will make the company and their heads to be liable for
it. This implies that the nature and the necessary working are being manages by the
employers and this is their sole duty to manage all the functions in proper manner. It is been
seen that the organizations manages all the professional negligence to be framed and applied
in systematic manner (Driver and Thompson, 2018). As in all the companies and the business
functions there is been seen that the directors have so many duties and responsibilities in
which they frame and provide all the roles and the working patterns. As they execute all the
decision making and proper framing of judgments. The directors helps in promoting all the
growth and the success it also keep records and the strategies in which the decision making
and the compatibility is attained. They work for the interest of the company and avoid all
kind of personal profit.
All the directors also implies to have the regulations and the actions to be
implemented in a procedural manner as they helps in making the registration of the business
through HMRC and the companies house . The memorandum of association (MOA) and the
Article of Association (AOA) are the important element which executes and replicate the
work as the MOA helps in forming the legal statements and also the initial shareholder
working and effective nature of formation of the company (DuBoff and Bryan, 2019). Other
then this the AOA regulates the statements for the shareholders, directors and the other
signatory.
The legal business structure of UK companies
As in all business there are been used different kind of working and in order to
structure a new firm their seen that the companies will have to overlook all the financial
management, credibility, marketing management, working to be applied in proper manner.
As IOM solution is a sole trader business and in order to initiate and take the expansion some
of the main options which are being available in it are like:
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Sole Trader
These are all such business practices which are managed by the single owner it
carries out all the sole responsibilities in order to frame and establish all the rights and the
liabilities. This is considered to be the single entity business functions in which all the assets,
liabilities and the decision making are managed by them (Johnstone, 2020). As there is seen
that no taxation are applied to be paid in all the corporation taxes as they have deduct all the
annual income and the person asset and the working in order to give the taxation which are
implied. Such business are on small scale basis and there is been seen that all the debts and
the savings are managed in the firm. Advantages- all the sole traders majorly have all the profit earning to be opted by
them. Other then this the decision making process and the full operational control on
the work is on them it help to regulate and manage the legal hassles in which they
frame all the floating and managing the business and their proceedings. All the issues
are seen to be minimal.
 Disadvantages- All the sole traders majorly manages the operational burden and also
have the issues for the heavy workload and the other instability in the financial areas.
Their is been seen that all such working and the management is been re framed
through the nature and low issues. Their is also been seen that so many unlimited
liability is being drawn in it which makes it difficult for them to raise the funds.
General Partnership
This is mainly all such business which are being attained by two or more individuals
in which it regulates all the systematic approach and the effective management it promotes
and manages all the partners to share common loss, profit, assets, liabilities being equally
distributed in between them. It implies to give the operational structure being framed in all of
them and the general taxation shares are managed with the existence (Palombo, 2019). Some
of the main element in the partnership is it implies to be formed through registration being
made in the partnership by the HMRC and also by the companies house.
 Advantages- All the partnership mainly have so many persons to invest in the
business and there is been seen that it complies to have so many person to regulate
and manage the decision making process with which the alignment and the working is
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attained. It frames the taxation and the liabilities in which the operational working is
implied.
 Disadvantages- Their is no proper authorities which and in case if their arises any of
the conflict then it will affect the business and will make it dissolve. Their is been
seen that all the liabilities and the loss are be managed by them accordingly and
frames the general working. With the implemented actions.
Partnership
This acquires all such business in which two or more person mutually manages all the
work to be manged together. It is been seen that they commonly share all the liabilities, assets
and the loss which are merely being farmed (Roberts, 2018). In UK it is been seen that all the
partnership business is aligned with the working and the effective management they helps out
in attainability the work and the business to be all grown together. Some of the type of
partnership is general and limited liability partnership and in this the limited liability
partnership carries out all the shares to be shared and managed in allocated manner and the
income tax are to be paid for all the profit which is being managed and defined in them
accordingly. It also reflects that the general management in the partnership implies to involve
all the laws and the dissolution to be made with altogether management.
 Advantages- this kind of business is merely easy framing as all the partners in case if
they are ready will manage the effective working and also applies the nature and the
general framework to be applicable in all. Their is also been addressed that ll the
paperwork in such areas are minimal and they do not require any such kind of issues
in which the capital which are been invested are managed eagerly.
 Disadvantages- The major drawback in all such percolation is that it serves to have
the unstable environment in which all the independent legal status are being managed
and there is been seen that as in case of death of any of the partner the firm is been
dissolved completely. Their is issue of conflicts in the decision making at times.
Limited Liability
Their is been seen that the companies manages all the rights and the perpetual identity
there is observed that all the liabilities, debts and the general responsibility are managed in
order to frame and manage all the LLC there is been seen that it complies of all the long
process with which the operational tasks are managed (Stokes, 2019). And the taxation and
the reporting is calculated with the existence of the shares with the profit. LLC manages all
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the corporates and the other adherence in which they maintain and frame various liabilities
and the other final tax report working. All such LLC covers the profit management and the
other firm dissolution and nature of working (Themistocleous, 2019). Companies regulates a
corporate wheel in which all the liabilities and the records are being undertaken and
managed. Advantages- LLC manages and focus on regulating and managing all the debts and
the liabilities in which the companies manages and engage in shareholder meeting s
and the other active boards with the directors.
 Disadvantages- It complies to have some complex process and all their working is
mainly time taking (Veldman and Willmott, 2022). Their is also analysed that the
formation of company requires so much of investment and the management.
Recommendations for IOM Solutions
As this company is managing the business as the sole traders thy can further expand it
in creating the vast resource management areas through which more profit can be gained and
the person will be able to maintain growth and development. It can be recommended that they
can expand the business in limited liability company in which all the expansion can be made
ion systematic management and ways through which they can apply and maintain all the
work to be applicably framed. Other then this there is been seen that it helps out in managing
the operational efficiency in which company as having the registration and the working in
which all the liabilities will not be on them but also on the normal partners who are majorly
being working in crossing to the general areas and nature. The LLC carries the perpetuals
succession and this contemplates them to make the easy and the simple way to manage
working. So they can in order to increase the cash flow and funding can increase their
business in this.
Conclusion
From this above report it is concluded that, business law is mainly the set of rules
which helps out in framing the laws and the legal formation in managing the effective
functions of the business. Their is been seen that all the business are being made inn order to
enhance the better functioning and growth. Sole traders is mainly all the small scale business
which have the decision making and the fund raising managed by the sole person themselves.
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Their is also applies that there are two or more partners which are being applied to manage
and cover the common loss, shares, liabilities and many more. Further it is also concluded
that the recommendation given to the IOM solution is to enhance the growth by forming it in
LLC
References
Argyrou, A. and Lambooy, T., 2020. An Introduction to Tailor-Made Legislation for Social
Enterprises in the EU: A Comparison of Legal Regimes in Belgium, Greece and the
UK. University of Oslo Faculty of Law Research Paper, (2020-25).
Denoncourt, J., 2020. Corporate intellectual property, governance and board effectiveness
reviews in large and premium listed UK companies. In Fairness, Morality and Ordre
Public in Intellectual Property. Edward Elgar Publishing.
Driver, C. and Thompson, G. eds., 2018. Corporate governance in contention. Oxford
University Press.
DuBoff, L.D. and Bryan, A., 2019. The Law (in Plain English) for Small Business. Simon
and Schuster.
Johnstone, S., 2020. Workplace partnership. In Handbook of Research on Employee Voice.
Edward Elgar Publishing.
Palombo, D., 2019. The duty of care of the parent company: A comparison between French
law, UK precedents and the Swiss proposals. Business and Human Rights
Journal, 4(2), pp.265-286.
Roberts, J., 2018. Multinational business service firms: development of multinational
organization structures in the UK business service sector. Routledge.
Stokes, S., 2019. Digital copyright: law and practice. Bloomsbury Publishing.
Themistocleous, C., 2019. Employment status in the UK: implications for business
owners. Journal of Aesthetic Nursing, 8(2), pp.92-94.
Veldman, J. and Willmott, H., 2022. Social ontology of the modern corporation: Its role in
understanding organizations. In The corporation: Rethinking the iconic form of
business organization. Emerald Publishing Limited.
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