BMP4002 Business Law: Analysis of Legal Sources for UK Businesses

This report provides an overview of the legal context for business organizations in the United Kingdom. It discusses the key sources of law, including contract law, company law, and employment law, and their impact on business operations. The report also examines different legal business structures, such as sole proprietorships, general partnerships, and limited liability partnerships, highlighting their advantages and disadvantages. Furthermore, it references the Companies Act 2006 and other relevant legislation. A recommendation for IOM Solutions expansion is provided, suggesting a partnership structure. Desklib offers a variety of solved assignments and past papers for students.

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..........................................................................5
Sole Trader.............................................................................................................................6
Partnership............................................................................................................................7
General Partnership...............................................................................................................8
Limited Liability......................................................................................................................8
Recommendations for IOM Solutions...................................................................................8
Conclusion..................................................................................................................................9
REFERENCES.............................................................................................................................10
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Introduction
Business laws are the laws that has been used in order to help in making
establishment of business organization. These laws has made development done
through legal structure created within an organization. The law has made legal
structure formed helping in regulating business activities in more effective manner.
These laws also deals over various aspects which makes business organization for
various perspectives covered in more efficient way(Courcelles, 2019). These laws
has helped in operating business as per legal standards of an organization. Also law
deals over different aspects making goals and objectives achieved. It makes
operations of business organizations conducted with effectiveness helping in making
goals and objectives achieved in more effective manner. The laws deals over
various aspects that has been shared by business organization. Through business
law different business organizations operate as per legal standards. These laws
covers wider scope which makes business organization perform all functions in more
effective manner. These law develops wider scope making business performance
improved in more effective manner. Nature holds dynamism within its working as
business law has tendency to impact business organization with its functioning. The
report deals with different business organizations in United Kingdom. Also legal
structure of business organization has been explained like sole trader and
partnership. In the end IOM solutions has been explained through its expansion.
Businesses & Organizations in the UK
These organizations deals over those aspects based over operations that is
based upon various functions related over commercial and corporate activities which
makes business conducted as per legislation and laws assigned for it. These
organizations leads over developing capability within business over making
performance improved in relation to business activities(Dickinson, 2017). Through
business organizations within United Kingdom perform various functions within
business organization. In this business organization trade related activities develop
proper legal structure created in making business organization develop its efficiency.
These organizations has been using three main laws which are contract, company
and employment. The laws makes business organization improved within its legal
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structure. Through company law business organization makes pursuance developed
over aspects making business conducted in legal way. These laws helps in
conducting business according to goals and objectives set by an organization. The
law used for dealing with various aspects of business present within organization. In
order to structure business organizations Companies Act 2006 has been formed
which specifies about guidelines and rules which makes business organization work
as per legal structure of United Kingdom. The act majorly focus over forming
memorandum of association which helps in making business conducted in more
effective manner. The law identify about rights and duties of directors. In order to
understand this example has been given that is V Ltd requires to makes its
establishment done for which its is required to make memorandum of association
and article of association as per the act. In this laws has been used by an business
organization is contract law that helps in forming agreement between two or more
then two organizations willing over making business transactions conducted more
effectively. These laws allows contract to be formed in written and unwritten form
which makes expressed or implied contract more valid in nature. These laws helps in
making organization constructing contract making it legal within the eyes of law. The
law contains various elements like offer, acceptance, obligation, legality and validity.
If any element is absent then contract cannot be formed in any manner. First element
is offer which is based over idea which makes contract initiation possible in more
effective manner. Second element is accepted within which acceptance done upon
party. Then comes third element which is related over forming rules and regulations
accepted by parties making contract formation possible(Fairchild, and et. al., 2018).
Then comes validity of contract which is related upon making contract validation
proved in the eyes of law. Fifth element is legality based over making contract
formation done with more effectiveness. Its is understood with the help of example
that is YUT LTD and JKL Ltd wants to make an agreement formed between them
regarding contract of trade. This agreement should be formed as per contract laws.
Through the example the outcome cane be generated is that valid agreement has
been made through contract law which is applicable within United Kingdom.
Then comes employment laws that has been used for making protection done
over employees in relation to various kinds of problems faced by employees working
within an organization. In this law better relationship is developed faced by
employees while working within an organization. The laws has formed over making
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employee and employer relationship developed with strength working within
organization. It has been working over aspects making employees work with various
perspectives. Employment laws has been dealing upon making business
organization working over employees well being. There are different kinds of
legislation has been used over solving issues which is based over employments
perspective with the help of legislation which are Employment rights act 1996,
Minimum Wages act 1986 and Equality act 2010. In order to make understanding
developed of employment law which is understood with an example that is VB an
employee working within organization over colour and religion by high management
persons. This makes high management can be sued under equity law act 2010
under discrimination created over work place. These organization are known as
those business enterprises which is based over various kinds entities that has
engaged with commercial, industrial, or professional activities. Thus business
organization makes various legal aspects covered in more effective manner making
business organization work with more effectiveness making business conducted
more effectively. These laws has been helping in making business organization work
more effectively as per legal aspects mentioned within them helps business
organization function in proper manner.
The legal business structure of UK companies
In this legal structure of business organization existing within United Kingdom
related over different kinds of organization which is related to legal structure
developing more impact upon business functioning. As per the legal structure of
business organization in UK there are two main types of business organization which
are incorporated and unincorporated organization(Kubacki, Szablewska and
Kennedy, 2019). According to unincorporated organization business include various
forms of complex process helping in increasing business in more effective manner.
These organization helps in making business organization formed according to legal
structure of organization. The organization is important as they make business
developed with effectiveness making business aspect covered more effectively. As
per unincorporated business organization public and private organization has been
covered. These organizations together help over making business reach at global
level. Private organization: These organizations has been using Private Ltd within
its end and shares are not sold in public. In order to form these organizations all
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documents required for collecting and then submitting it to Companies House for
making organization registered. The organization has been managed by directors
themselves and funds are arranged through loan and debentures. Public
organization: These are those organizations which work with Public Limited within
its name and share is sold in public. The organization is having various owners and
stakeholders which work together for achieving goals and objectives in more
effective manner. The organization should have various documents like digital
structure of owner, memorandum of association and important document required to
be collected. In public Limited companies tow and more directors within company
secretariat is required. These organization work of welfare society making social
issue solved more effectively. These organization work over welfare of society
making it better place to live. Management of organization through which an owner
and stakeholders of business. Funds arranged by government institutions, health
programs, community services, restoration programs, public service programs, and
even environmental programs.
Sole Trader
These organizations used most commonly for making business executed with
more effectiveness. The organization are easy to form for start ups which makes
business run more effectively(Phillips and Moutinho, 2018). The owner is only single
owner which exists upon holding responsibility over business activities. The owner
are known as sole proprietor and handling all kinds of business activities in more
effective manner. In order to get organization register INHRC number has been used
which makes registration done and name has been given for making business attain
identity in market. Managing of organization is done by the person owning business
more effectively. Funds are arranged over making family members and friends or
another personal relationship. These organization has both advantages and
disadvantages which are as follows: The organization makes profit earned stored by
the owner himself making profit used by owner themselves with more effective
manner. Also formation process is easy which makes times utilized for establishment
of business. Disadvantage: Funds arrangements which is difficult in nature makes
working of organization. The organization facing heavy loss and all activities having
great difficulty. This makes business organization handled in more effective way.
These organizations are easy to formed.
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Partnership
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These business organizations has been formed through two or more then two
persons. Also the business organization makes various objectives within which
common motive has been accomplished of earning profit. The organization is very
effective perspective of business formation.
General Partnership
These are those organization that has been making two persons with
motivation making profit earning possible. This is part of business organization which
makes various kinds of elements covered with risks, costs, benefits and
responsibility upon running of business organization. The organization makes profit
generated divided among partners(Shanahan and Hopkins, 2019). The process of its
registration is based over generating INHRC number. The process makes profit
generated divided among partners themselves. In this agreement has been made
related over partnership agreement that is related over partners only. The
organization easy making business organization operating effectively. These
organizations manages by partners themselves making work done effectively. Funds
arranged by partners only which helps over collecting profit by them. This makes
burden shared by partners helping in reducing burden more effectively.
Disadvantage: the organization makes legal status which not exists making business
organization faced legal issues in future. This is another disadvantage if an partner
dies then whole partnership getting dissolved due to agreement taking place
between them.
Limited Liability
These are those kinds of partnership firm for which partners come together as
per interest within business(Surdam, 2020). Under it any kind of business all work
has been handling as per investment which is done by partners themselves. There
are certain advantage which makes profit organization through coordination within
partners. Disadvantage: if partners not interested investigating over organization
cannot function.
Recommendations for IOM Solutions
After performing analysis about the case it has been explained that in order to
make expansion possible partnership for of business organization has been used.
This makes operations performed more effectively.
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Conclusion
From the above discussion it can be marked out that business laws are the
laws that has been used in order to make business organizations established
effectively. Through such laws various kinds of organizations has been formed which
makes legality of corporate world maintained more effectively. In the end legal
solution is provided to IOM solutions.
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REFERENCES
Books and Journals
Buchheit, L.C., 2019. Ethical considerations in the representation of sovereign
clients. In Research Handbook on Law and Ethics in Banking and Finance.
Edward Elgar Publishing.
Burri, T., 2021. The New Regulation of the European Union on Artificial Intelligence:
Fuzzy Ethics Diffuse into Domestic Law and Sideline International Law.
Available at SSRN 3865149.
Conrad, C.A., 2018. Ethics in Business Education. In Business Ethics-A
Philosophical and Behavioral Approach (pp. 327-337). Springer, Cham.
Courcelles, D., 2019. The Ethics of the Merchant in the Islamic Faith: From Ibn
Khaldoun to Islamic Finance.
Dickinson, A.L., 2017. Recent Ethics Opinions of Significance. J. Legal Prof., 42,
p.291.
Fairchild, and et. al., 2018. 14. Health Justice. In Public Health Law and Ethics (pp.
587-612). University of California Press.
Kubacki, K., Szablewska, N. and Kennedy, A.M., 2019. Guest editorial: Social good
and ethics in social marketing for wicked problems. Journal of Social
Marketing, 9(4), pp.485-489.
Phillips, P. and Moutinho, L., 2018. Business ethics. In Contemporary Issues in
Strategic Management (pp. 178-194). Routledge
Shanahan, K.J. and Hopkins, C.D., 2019. Level of agreement between sales
managers and salespeople on the need for internal virtue ethics and a direct
path from satisfaction with manager to turnover intent. Journal of Business
Ethics, 159(3), pp.837-848.
Surdam, D.G., 2020. Examples of Mid-Nineteenth-Century Business Ethics in
America. In Business Ethics from the 19th Century to Today (pp. 71-99).
Palgrave Macmillan, Cham
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