Business Law Report: Legal System's Impact, Solutions, and Arbitration

This report delves into the intricate relationship between the legal system and businesses, particularly within the UK context. It begins by outlining the fundamental role of the legal system, emphasizing the responsibilities of organizations like the potato council in adhering to governmental rules and legislation. The report explores the potential impacts of law on businesses, differentiating between employed and self-employed workers, highlighting the legal implications of each status, including insurance and liability. It then presents legal solutions to common business problems, such as establishing a business structure, registering the business, obtaining necessary licenses, and securing funds. The report also discusses the significance of arbitration clauses in resolving disputes and concludes by underscoring the importance of legal compliance for organizations. References to relevant books and journals are also included to support the analysis.

BUSINESS LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
1 Basic role of legal system........................................................................................................1
2 Potential impacts of law on a business ....................................................................................2
3 Legal solutions to the business problems.................................................................................2
4 Arbitration clause.....................................................................................................................3
CONCLUSION................................................................................................................................3

INTRODUCTION
The people or the organization who are working in a country has to be follow the rules
and legislation which are made by the government of that nation. This report is all about
potential impact of law on business and the basic role of legal system. The business have many
problems so to legal solution of those problems are also described in this report(Lieberman and
et.al., 2016). To make correct legal solutions the report have alternative legal advices which can
be used by the organisation.
1 Basic role of legal system
In UK, it is responsibility of potato council to maintain the competitiveness and
sustainability of the potato growers. There are some major functions that has been performed by
the potato council. To convince the customers of home country and foreign country, the
promotion of potatoes done by the potato council. Government and the organisation gets the
advices from the council and the statistical advices are given to the potato industry by the potato
council(Heminway, 2015).
The POTATO WEEKLY are the publications of the council which are completely
separated. The council visits the different agricultural fairs to identify the health benefits of the
potatoes. The demonstration of various recipes done by the council with the help of a team of
resident cook. To make sure about the resources it is very essential to follow the rules and
legislation by the organization which helps to carry the functional activities of the council
legally. It is so important that the instructions and guidelines should be followed by all the
members of the council to complete the procedure. This will help to pass the bill in parliament
successfully. In the parliament a proposed law is applied to be passed that is called a bill and all
the members are involved in that debate on that bill that has to be passed in the legislative
assembly. Once the bill has been passed then it will be an act in which a particular law in
involved(Koehn and Elm, 2014).
There are 3 stages of the debate, first stage includes the formal discussion in which no
debate is conducted. In the next stage the main principles of the bill are discussed which is
known as the second reading. The bill can not be modified in this stage, only the voting has been
done by the members of parliament. In the last stage is known as the committee stage in which
the bill the considered line by line. In the next stage the role of professional lobbyist is so
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important because it is one of those people who are working to influence the regulation and
legislation. It is also involved in the decision making process of government.
2 Potential impacts of law on a business
In UK there are so many agricultural fairs has been organised and the cooking display is
provided by the council by providing the work to the cooks. The each workers should be self-
employed that is the specific condition given by the council. The employed and self employed
both kind of workers have some differences which can be considered only when both will take
any legal action. The self-employed workers are not having any kind of insurance. The person
who are self-employed is involved in operation of trade and business. Also, it is an independent
contractor. The person which is doing any part-time business also known as self employed. The
people who are not self employed are having the unemployment insurance but in case of
bankruptcy and corporate liquidation, self-employed do not have insurance(André, 2015).
Basically the employed person has to report to management and the employer of the
organisation but self-employed person is not answerable to anyone. The National insurance
institute should be paid by the self-employed persons to insure their operations without taking
any assistance. As per the decisions made by tribunal, the employers are responsible to pay off
the damages that are occurred due to the mistakes of the employees.
Registration of the employees in the National insurance institute and contribution for the
insurance premium should be done by the employees. It is so important that the council has to
pay the insurance for the cooks that are employed because council will be the employer. The
employee should register with the HM revenue and custom department. The impacts of the
decision on the employed and self-employed can be seen as the PAYE. NI. Vicarious liability.
PAYE bill is answerable for the employee income tax deductions with the help of some specific
elements(Ludlum and et.al., 2015).
3 Legal solutions to the business problems
There are basically 5 steps which can used to establish a business which can work
independently in the market.
The business structure should be taken properly, it should be depended on the
requirement and existing resources. Determination of a suitable structure should be done at the
state, country and federal level. The name of business needed to enrol the business in the each
level of market. The similar names are not allowed in the businesses so authority should have
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backup with 2 more names. Registering with the Internal revenue services shows a requisition of
employer identification number that is used to fill all sort of tax returns forms. For conducting a
legal business the legal license is taken on the basis of business nature(André, 2015).
Funds are so essential to be kept by the company directors, raising the capital funds will
help the organisation to be established properly. To develop the business loans should be secured
and the other investors can appoint the agents to make sure about the day to day operations. The
board meetings are also so important in which the director is being involved in taking the
business decisions efficiently.
4 Arbitration clause
The drafting of an arbitration clause is required to be done by the bodies of organisation,
this can be done various steps. Firstly the procedural rules will be included to ensure the
arbitration tact. The arbitral assembly can be formed by the total number of arbitrators. Language
of arbitration is important to understand the operations. For the supervision of the arbitration by
any third party the institutional and ad hoc is also required. The laws from government is also to
be considered to draft an arbitration clause(Ludlum and et.al., 2015).
The process of negotiation, law of collaboration and mediation re involved in the tactics,
which gives some important benefits such as it is not that much expensive, the nature is so quick.
The individual needs can be reached due to its flexible nature. Its nature is quite confidential
which helps to handle any conflicted situation(Ludlum and et.al., 2015).
CONCLUSION
This report is concluded that rules and regulations made by government are so vital to be
followed by the organizations. The work will be regulated with the help of legislation. To pass
the bills in the parliament the members are involved in a debate on under the standard procedure.
The insurance is paid by the employer only in case of employed person. The employer is
responsible for the mistakes of the employees.
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REFERENCES
Books and journals
Lieberman, J. and et.al., 2016. Business law and the legal environment.
Heminway, J.M., 2013. Teaching Business Associations Law in the Evolving New Market
Economy.
Koehn, D. and Elm, D., 2014. Aesthetics and business ethics. Dordrecht: Springer.
André, R., 2015. Benefit corporations at a crossroads: As lawyers weigh in, companies weigh
their options. Business Horizons, 58(3), pp.243-252.
Ludlum, M. and et.al., 2015. Study Habits Of Russian Business Students. Global Education
Journal, 2015(2).
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