Legal Environment Of Business

Legal Environment of business , easy to understand with simple points.

3. Business Le
g
al Environment ?
g

The Business Legal Environment plays a very important role in determining the success of any businesses around role in determining the success of any businesses around the globe.

In the Legal Environment of a Business we are looking

In the Legal Environment of a Business
, we are looking
the key areas, particularly where changes in law and how legal aspects affect businesses All these legal factors are legal aspects affect businesses
. All these legal factors are
contained in the legal environment of a business.

4. Legal Factors Affecting Legal Factors Affecting Business Environment 1.
Organizational Law
2
Securities Law
2
.
Securities Law
3.
Contract Law
4
Consumer Protection Laws
4
.
Consumer Protection Laws
5.
Employees Protection Laws
6
La s re ardin
Health and Safet at Workplaces
6
.
La
w
s re
g
ardin
g

Health and Safet
y
at Workplaces
7.
Security against Haphazard Termination of Employees Employees
8.
Immigration Laws
9
Government Procurement Laws
9
.
Government Procurement Laws

5. Or
g
anizational La
w
g

The organizational law is the first type of business law A b i h i i d l l i i bj

A
ny
b
us
iness

t
h
at
i
s

organ
ize
d
as

a
l
ega
l
ent
ity
i
s

su
bj
ect

to the state law that govern s its operation and conduct.
F E l F
or
E
xamp
l
e
Corporations, Limited Partnerships, Partnerships and
Limited Liability Companies all of which have different
legal status and issues.

6. Securities La
w

If a business is seeking to obtain financing through different types of investors it may be subject to legal different types of investors
, it may be subject to legal
issues such as security law. For instance, a decision to offer promissory notes a type of loan to your investors offer promissory notes
, a type of loan to your investors
,
will subject the legal factor affecting business to state and
federal re
g
ulations and securit
y
laws.
gy

7. Contract La
w

8. 
If the intention is to enter an agreement with another person or entity then contract law is binding This also person or entity
, then contract law is binding
. This also
has a special area that is involved directly with factors affecting business for example Government Contracts affecting business
, for example
, Government Contracts
,
which is also known as Government Procurement Laws .

9. Consumer Protection Laws

Some businesses act unfairly towards their consumers. For this reason most countries have consumer For this reason
, most countries have consumer
protection laws that are aimed at ensuring that consumers are protected consumers are protected
.
Here are examples; A
Weight and Measures Act
A
.
Weight and Measures Act
B.
Trade Description Act
C.
Consumer Credit Act
D.
Sale Of Goods Act

10. Em
p
lo
y
ees Protection Laws
py

Different Governments have passed laws to protect the interest of employees These laws protect them against interest of employees
. These laws protect them against
unfair discrimination at work and when applying for jobs. It ensures that no one is discriminated against on the It ensures that no one is discriminated against on the basis of such things as race, religion, sex, age, or colour.

11. Laws regarding Health and Safety at Laws regarding Health and Safety at W
o
rk
p
lace
opace

12. 
Employees receive protection from dangerous machines. A h kl l h ld b i l hi d

A
t

t
h
e

wor
k
p
lace,

emp
loyees

s
h
ou
ld b
e

g
iven

c
lot
hi
ng

an
d
equipment that meet the highest safety standards. El hld h bl hi

E
mp
loyees

s
h
ou
ld h
ave

a

reasona
bl
e

temperature

at

t
h
e
ir

workplaces. Th h h h d d h k l d

Th
e
h
ig
h
est
h
ygienic

stan
d
ar
d
s

at

t
h
e

wor
k
p
lace

an
d
washing facilities should be met for the sake of
l
emp
loyees.

Employees to have enough breaking periods while
ki
wor
ki
ng.

13. Security against Haphazard Security against Haphazard T
e
rmin
at
io
n
O
f

Em
p
loyees.
e ato O poyees.

14. 
It is ille
g
al now for businesses to dismiss the em
p
lo
y
ees
gpy
for joining trade unions or for expecting a baby unless
you choose to ignore the new legal factors in business
w
hich will have repercussions on your business. Before
dismissal of any worker, there has to be warning with
h i h b d
proper

reasons,

ot
h
erw
ise,

t
h
e

case

may
b
e

treate
d
as

an

unfair dismissal.

15. Immigration Laws 
Immigrants provide a ready source of relatively
affordable labourthat keeps the cost of business low and
f


elevating

pro
fits.More

labou
r
leads

to

more

output

thereby leading to consumers buying more products. All th l l f t ff ti b i t ib t tl th
ese
l
ega
l f
ac
t
ors

a
ff
ec
ti
ng
b
us
inesses

con
t
r
ib
u
t
e

grea
tl
y

to the gross domestic product of the Country.

16. Gove
rnm
e
n
t
Pr
ocu
r
e
m
e
n
t
L
aws
Gove et ocueet aws

Government procurementor publicprocurementis the
procurement
of goods services and construction on
the
procurement
of goods
, services and construction on
behalf of a public authority, such as agovernment agency. Laws
usually require the
procuring
authority to issue
Laws
usually require the
procuring
authority to issue
public tenders if the value of theprocurementexceeds a
certain threshold.

17. THANKS THANKS