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In order to start a new business and start-up company, the main sources of law are “constitution”, “statutes”, “regulation” and “cases”. It is known that the law-making powers are separated into three parts of the government as “executive”, “legislative” and “judicial”. These three branches of government are highly essential and also, they play a major role in creating the primary sources of law. In the primary sources of law, the executive branch helps to create the “administrative law”, which is helpful for the start-up business marketers. On the other side, the “legislative branch”, help to make the “statutes”, which are passed and published as the “statutes laws”. The “judicial branch” helps to create those laws, which are helping to create the decisions. Their laws are mostly known as the “opinion” and “cases”. The common laws mostly help in evolving and expressing the issue depending on the specific cases. The major part of the common law is “stare desicis”, which represent that the court is required to follow the previous decisions which have been made (Brown et al., 2019).
There are some legal requirements, which have been advised by “Jackson Solicitors”. Those are at first it is necessary to register the new business, which can help in continuing the trading. After that, insurance and equal opportunities are also necessary for increasing the liabilities and promoting equal opportunities for everyone. There are also secondary sources of law, which are written in simple language. These laws are not binding to any court, also these laws help to explain and summarise the primary laws to increase its accessibility and understanding power more. The secondary sources such as “treatise”, “practice guide”, “legal encyclopaedias” and “ law journals and articles”, are highly essential to understand the primary laws. It also helps to point out the vital “statutes” and cases that are written in brief. The secondary sources of law are presented by “law journals” and articles, it also helps to influence the laws for the start-up business. The “legal encyclopaedias” are also helpful for organising the brief articles in “alphabetically order”. In order to start a business, it is necessary to comply with the data laws, which help to maintain the legal responsibilities to protect the data and also to store the data within HR software (Inês et al., 2020). Before starting a business, it is also necessary to send a “written statement” for increasing awareness of the “terms and conditions” of the employment. It is also necessary to get assurance on the health and safety of all employees before making a plan for a start-up business.
The government play a vital role in the making of laws. It is known that the justice system is one of the major parts of the state. The other two branches are “executive” and “government” or the “legislature”. In most democracies, the three branches of the state are divided and they are separated. These states have some major roles and functions which are written in the constitution. It also helps to prevent the “concentration of power” in one branch, also it helps to enable each branch by the “separation of powers”. The UK is famous and unique for not having a constitution in a written instrument. The constitution of this country can be found in the “statutes”, which is passed by the parliament and the common law has been developed for many years in “the decision of courts”. The two other countries are also like the UK, which has no written “constitutional instrument”. It is also known that the lack of a “written constitution” is one o the biggest consequences of the UK. The other problem is that the institution has not separated the functions and powers of three different states, which are “executive”, “legislature” and the “judiciary” (Haddad and Hornuf, 2019). It is also known that at the end of the 19th century, the judges can be elected as MPs, and also some of the judges like “Lord chief justice”, who can serve as the members of the “cabinet” and they also can be the members of the government.
The overlap between the “judicial branch of the state” and the other branches were the most important part, who have brought to the end of the 19th century. The finest example of the process of “British institution” is that, they had not separated “the three branches of state”. The office and the house of lords were involved by all the three branches of the government. However, it can be understood that the legal system is highly effective in terms of the recent rules and developments. The concerns of the government have raised in the year 2003, in this time, the government has proposed for the “abolition” in the office of “lord chancellor”. In the law and legal system of the UK, the government and the “judiciary” has entered into the “concordat”. The “explicit statutory duty” on the governmental ministers is effective and beneficial for creating an influence on the “judicial decisions”. Additionally, the “judicial functions” are also influenced by the government. As per the UK laws of the supreme court, the “independent judicial appointment commission” is responsible for starting any business or other activities in the UK.
As per the view of Adams (2020), the terms and conditions of the UK courts have helped to bring changes to the business. The “UK jurisdiction” and “arbitration clause” have also helped in running the business of the UK with speed and also with efficiency. Moreover, it is also known that the “English common law” has created a huge positive impact on the UK legal system, which has been highly effective for the start-up business organisation of UK. the court of UK has also become highly flexible and business-friendly for the entrepreneurs and start-up business owners. This has created a great chance for the start-up business persons. The court procedures and the requirements have also been beneficial for the business organisations. On the other hand, as per the statement of Elliott and Quinn (2019), it is also identified that the judges of the court have helped in preventing the unnecessary cost of the products, which can create an issue for the start-up business persons. For example, it can be stated that the responsibility for the “criminal justice” “prisons” and “penal policy”, also can help in increasing the “accountability” for the business owners. The legal system of the UK and legislations are highly effective and useful for maintaining all the rights of the employees in their organisations.
Moreover, they have also helped to maintain the health and safety of the employees in their workplace. In order to provide all the required opportunities to the employees and also to increase the care and concern on them, the court service and the legal system of UK has highly helped. Additionally, the “judiciary system” has also helped in handling the complaints of the employees in their workplace. The business-like “solicitors”, “architects” and the healthcare professionals follow the legal requirement (Lawinfo.com, 2021). The cost of the compensation also needs to provide to the customers, who face huge losses or damage due to the services. The legal system of the UK has also helped to promote equal opportunity to the employees. It also helped the employees in their recruitment process. In order to protect the personal data of the employees and the customers and also to increase the right to work to every employee, the legislations and “judiciary conduct” play a vital role. It is also known that, before recruiting the employees in the organisation, the terms and condition also need to be explained to them. It is also necessary to create and maintain a proper agreement with the employees to avoid unnecessary issues and hazards in the business.
According to Honeyball (2016), all the business organisations need to take proper permission and legal configuration for defining the rights and liabilities in the ownership of the business and also to control and maintain the personal liability. This decision plays a major role in the business and also it has a long-term impact on the growth and progress of the business. According to Macintyre (2018), if anyone feel unsure about the form of their business, then they need to consult with several counsellors. Forming a new business is always become difficult for business owners, as it contains huge risks and difficulties. At the time of forming a new business, it is necessary to improve the vision regarding the structure and characteristics of the business. In the different types of business such as in “sole proprietorship”, the owner gets the entire profit of his business (Lawdonut.co.uk, 2021). The advantage of this type of business is that the business owner do not need to provide the excess tax for this. Additionally, the owner can make their own decision for the control of the organisation. The disadvantage of this type of business is there is a huge liability for the business and it has limited funding.
In the partnership business, the main facility is that it is easy to establish and there is a separate legal status for providing the liability protection. According to Marson and Ferris (2016), it is also known that in the partnership business the partners work jointly and they are also liable for their activities with the partners. In the corporation business, there are also limited liability and also, they provide the transfer of ownership with the shareholders. The consequence of this type of business is that, there are “double taxation” and also, they pay the corporate taxes at a different time from the other business. In the business form, there is also the “limited liability company”, which has a common business structure and also, they have separate legal entities. The disadvantage of this business is that they take a huge cost to form their business. Moreover, it also has a personal tax liability, which can also create an issue in the business. These are the different pros and cons of different business forms, which play a vital role in the form of the business and also, they create a huge impact on the business growth and profits. There are different business organisations, which offer legal services at the starting stage of the business.
In most of the cases, it is seen that the corporations required capital and funding to expand their business and also to optimise their activities in the business industry. In order to develop a business in a new area with new customers, a huge amount of funds is necessary. In most cases, the business organisations take loans from the banks and also, they take help from the “retained earning”. There are also “debt capital”, from which the companies can take help and also, they create ‘corporate bonds” with this. Moreover, there are also the “equity capital” and the “shareholders” who also help the organisations in their tax benefits. It is noticed that there are advantages and disadvantages in every type of business. However, it has also been identified that the disadvantages create a huge negative impact on the growth and success of the business. For an example, in the business of “sole proprietorship”, the owner becomes responsible for the entire business activities (Chambersstudent.co.uk, 2021). Similarly, in the partnership business, the decision-making process gets divided among different people, which can create a problem in the business functions.
The corporation business has also “double taxation”, which can create a hindrance in earning the profit of the business. As per the view of Saksonova and Kuzmina-Merlino (2017), the “partnership” business is quite more advantageous than the “sole proprietorship” business, as the risks and difficulties of the business get divided among various people. On the other hand, according to Cadwalladr (2017), the “corporation and limited liability company” is also beneficial, as the taxation of these companies is low than other businesses. Additionally, this type of business has also a separate “legal entity”, which is highly useful for the business. It is noticed that though the owners of “sole proprietorship” business get the entire profit of their business and also, they can make their own decision in the business, however as a legal assistant, it is identified that, the “partnership” and “corporation” business is also beneficial and effective for gaining the growth and profitability in the business.
Resolving disputes is an effective and necessary action that needs to be taken by the business organization. Various measures can be ensured for proper implementations of resolving the disputes:
All businesses that are facing disputes can be resolved in the courts. If required, the right to turn to court can be derived from the entire constitution. Most of the time, the disputes have already been resolved for the location that is provided in the contractual relationship that is claiming the cost of the claim. Both the parties must have contested the verdict of the outweighs and are recovering the fastest solution in all. Litigation amounts to the reason for the business relationship that is claimed to be quite common throughout the economic environment.
The court has the right to decide that they are facing disputes in their business and are business law for different authorities. Arbitral tribunal mainly comes from the party and the agreements that are made between the parties. There is a clear advantage that can be used for reaching the decisions and are likely to enforce the areas made in the EU. It is the action that is made in revising the arbitral that is awarded in the rendered aspect of the countries. It is recommended that one of the parties can use it to locate the outside of EU/EFTA. It is essential that the proceedings are made for better evidence that can be submitted in English to the court. Dispute settlement body is being expected that is they have a good knowledge regarding economic relationships that have a greater picture of the business.
It is a combination of the first of arbitration and litigation that are made by the parties for agreeing on the settlement of the dispute. A mediator is a person unbiased and tries to identify the need for the parties and are helpful in reaching an agreement. The mediation fails the parties that have taken a turn in court or arbitration. Various international arbitrations are made by institutions and are offered through services of mediation. Carrying out a meditation aspect is important for recommending the contacts that are in the form of meditation clauses. Mediation of a dispute is important for maintaining a healthy and effective relationship of business. This can be made through resolving various resolving processes that are made as a result of the phrasing of the dispute settlement and its clause that are maintained in the contacts.
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