Legal factors affecting business

 

Student’s Name: Juan Carlos Ibarra Gaspar

NUA: 117230

 

INSTRUCTIONS: After reading the introductory paragraph below, write a definition of each of the aspect presented.

When business companies operate, they expect to face different internal and external factors that can affect their organizational operativity. Among all these factors, legal ones might greatly influence business organizations and affect how a different companies operate. There are several legal factors that affect businesses in many forms, including laws and regulations on taxation, employment, contract, securities, immigration and many more. The law affects the way businesses operate. That is the reason why any business should have a clear understanding and knowledge of the legal environment in which business organizations have function because these factors may determine its success or failure.

 

DEFINE IN DETAIL.

What is Organizational Law?

Organizational law is the body of laws that relates to creating, managing, and dissolving businesses. Each type of business structure has its own set of rules to follow. Each type of business structure also comes with its own advantages and drawbacks. This could also refer as several rules that maintain peace within the organization.

What does Employment Law refer to?

Employment law is a set of laws that deal with the rights of employees and the responsibilities of employers: Employment law covers a wide range of issues from pension plans and retirement to occupational safety, to discrimination in the workplace.

How are Consumer laws defined?

Consumer law involves all of the regulations and statutes that seek to create a more equitable balance for buyers in the marketplace and prevent sellers from using dishonest tactics. A consumer is any individual who purchases goods or services, which may be sold by manufacturers, wholesalers, or retailers.

Both state and federal laws play a role in regulating consumer law. These laws range from prohibiting false advertising and imposing product safety measures to regulating debt collection practices and protecting consumers’ identifying information. Consumers often find themselves needing legal help after falling victim to an online scam, purchasing a car or other product without being told of hidden defects, or losing money in financial schemes, such as identity theft or unauthorized credit card charges.

What is Securities Law?

Securities law is the group of laws and regulations that govern the issuance of securities. A security is a financial instrument usually designed to raise money for a business from investors in the business.

What does Health and Safety at the Workplace refer to?

Employers have a responsibility to ensure the health and safety of employees in the workplace. They set the protocols and make sure the workplace follows standards. However, regardless of how many risks and hazards employers minimize, accidents will continue to happen if workers do not take responsibility for their actions. Employees have a legal right to be safe at work. An employer must ensure that the workplace is free from as many hazards as possible. Some hazards cannot be eliminated, in which case every precaution should be taken to reduce the chances of injury.

What is Taxation?

Taxation is a term for when a taxing authority, usually a government, levies or imposes a financial obligation on its citizens or residents. Types of taxes include income, corporate, capital gains, property, inheritance, and sales. Tax occurs on physical assets, including property and transactions, such as a sale of stock, or a home.