The business law is primarily a branch of civil law which deals with both the issues of public as well as private law. Commercial law is concerned with the issues of manufacture of goods, dysfunction of hiring practices, regulating corporate contacts, bankruptcy, and various other commercial issues.
The business law applies to any business starting from the day it registers itself under the government to the day it finally shuts down. There are myriad of things that you think while opening a new business or starting a partnership for a new business. Business law encompasses all the rules and regulations that you need to follow while entering the commercial sector.
The business law includes intellectual property law and consumer protection laws explaining the rights, duties, legal obligations and liabilities involved in contact or sales. Business laws also apply to different aspects of finance, banking law and other important civil laws. This is the reason why business law applies to anyone who plans on opening a business of their own in a particular area.
Writing an Assignment on a vast topic like Business law requires jotting down all the relevant points and laws that apply to a certain business in a particular are or country. One needs to know all the possible problems that can pop up while running a business and uncover all the possible solution to these uncanny problems.
It requires voluminous knowledge on all the required fields and skillful as well as precise research about the subject matter. If you are confused about where to start and where to end and want to write, then you can get Business law homework help at Assured Assignment Help. We promise you of completing your article diligently before the destined deadline and customizing it as per your needs.
The scope of business law
The scope of business law means what sort of business exercises a business is going to conduct in the cover of its business strategies. These are some of the scopes of business law described below:
Analysis of business equilibrium focusing on cost and revenue ensuring that the business is not in a static state. This assures of the mobility of revenues and the exponential growth of profits ensuring that the funds and shares don’t remain unused in the market. Money begets money. Nothing and no one is exempted from this fact.
The idea about Profit and capital management, so the investments don’t surpass the profits. This is necessary to thrive in the commercial world as losses will sink your business as anything.
Necessary pricing of products and services for greater economic value of the business.
Consumer interest analysis is focusing on consumer demands because the sole principle of surviving in the business globe is to satisfy the consumer needs.
Production analysis as to know what should be the desired qualities of the manufactured products.
Knowing the ups and downs of markets and finding out the imperfections. This will reduce further marketing risk and will help to prevent chronic losses.
Types of business law
There are some common laws that everyone needs to follow if they are in the commercial sector. These laws fall under the sub-categories of business law. The various types of business laws are listed below:
This law is based on the protocol of the area in which you set up your business. Zoning laws define the type of business allowed in certain zones or areas. There may be certain restrictions on the product or service that you want to sell in a particular zone due to ethical, religious, community or environmental laws. Zoning laws state the rules and regulation of a place for setting up a business.
Business Formation Laws:
It dictates the type of business that you want to run like whether it is a partnership, proprietorship or a limited liability company. This deals with the taxation entity that you have to pay for a certain business.
Depending on the business formation laws tax laws state the amount of tax that needs to be paid depending on the type of business that you are running. To not violate the tax laws you have to hire an attorney or an accountant to keep track of the tax that you have to pay or the tax that you have already paid.
Business needs to be registered and licensed for the services they produce and the zones in which they are situated in. This also involves the copyright as well as the disciplinary principles in order to prevent unfair practices in the commercial sector.
These involve minimum wage laws as well as the minimum working hour and working day laws. This ensures that no employee is harassed or dictated by their superiors or co-staff to make sure that every employee is important and happy.
This ensures that the business or service is not harming the environment in any possible conditions. For example several factories dispose their industrial wastes in the nearby water bodies or the effluents pollute the air. Environmental laws are a method to ensure that no hazardous metals are disposed in the environment and if they do then this is termed as illegal dumping.
Health, Fire & Air, and Water Pollution Laws:
These rules are applicable for your business if you are in the food business. These are imposed to ensure safety. The health department inspects the restaurant or hotel and approves the business for if it is eligible for continuing its business or not.
Intellectual Property Laws:
This is applicable if you are into patenting products or ideas. This ensures that your ideas aren’t being stolen by someone and you need to be enlisted in your zone for the type of business you are running.
Considering this diverse variety of rules and regulations and writing a successful assignment on business laws becomes all the way more difficult if your business law assignment comes within a deadline. The work becomes more lengthy and frustrating when it contains research papers as well as certain samples from your university professors. Plus you have to write something unique with the limited sources!
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How to write a business law assignment?
Establish the purpose of writing your assignment. Whether it is descriptive, informative, persuasive or based upon an argument. Justify your cause and give support for your arguments. If it is an informative essay, then make sure if your sources are clear and give credits. And if it is persuasive or related to the development of some product then give the points justifying your view of persuasion.
Consider your tone of writing as per your audience. Always keep in mind that a Business Law Assignment is written keeping in mind only the interest of the audience and modify the view of your paper as per the interest of your audience.
Make a rough draft of your write-up before writing the fair one. Make sure that your interests flow logically and your statements prove your view undoubtedly. Writing something on the business law is all about proving your particular set of ideas logically so make sure that you use the correct facts and figures.
Review your paper after completion. Go through it and check common errors like grammar, spelling and sentence structure. The tone of the essay should also be professional, sincere and polite depicting and reflecting your humbleness towards your work.
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