Company law which is otherwise known as the corporate law can be defined as that branch of law which deals with the commercials folds such as the regulation of corporations, investors, creditors, employees and shareholders; and other stakeholders like community, consumer and the way they interact with the surrounding environment.
Company law includes intellectual property law and consumer protection laws explaining the rights, duties, legal obligations and liabilities involved in contact or sales. Corporate laws also apply to different aspects of finance, banking law, and other critical 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 Company law requires jotting down all the relevant points and laws that apply to a specific 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.
There are several reasons for which company law assignments turn as complete vexation. These are listed below:
The worst part about assignments is that they come with a deadline. You can have all the creativity in the world. Your literary skills may be at the peak, and you can be a writing prodigy, but still, you would fail if you don’t have enough time. Most assignments fall as a bolt from the blue at the eleventh hour when your internals are near, or you have some other issues. So writing an assignment becomes all the way more difficult. Most of the time stress gets into your head and blocks the inexorable flow of your thoughts. Pathetic, isn’t it?
Your assignments turn into a complete failure when you have zero knowledge of the concerned subject matter. And research is anyway a mess. You can do all the research over Google or use the ancient traditional methods of spending innumerable hours in the library buts as long as you don’t get familiar with the subject matter nothing can save your assignment and grades from drowning. Understanding the topic helps you in jotting down the essential points together and frame unique content that your teachers would love to see.
Knowledge about Bloom’s taxonomy:
Understanding Bloom’s Taxonomy is an essential part of writing an assignment. There are fundamentally six levels of learning as per Bloom’s Taxonomy. These six intellectual behaviors include past or acquired knowledge, Comprehensive skills, Application, Analysis, Synthesis, and evaluation. Most of the students don’t even have a peck of knowledge about Bloom’s Taxonomy which ruins the orientation as well as the standards of their paper.
Imagine writing a lengthy assignment on a subject that requires proficient knowledge about the language you haven’t even heard of? Sounds creepy? Yeah, it is. Most of the time words are the most significant issues while channelizing your thoughts. You can have all the knowledge in the world, but if you don’t have the words to describe what you know, then you would fall straight on your face.
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Types of Company or Corporate law
There are some universal laws that everyone needs to follow if he or she is 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 specific 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 particular 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 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 meaningful and happy.
This ensures that the business or service is not harming the environment in any possible conditions. For example, several factories dispose of 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 of in the environment and if they do, then this is termed as illegal dumping.
Health, Fire and Air; and Water Pollution Laws:
These rules apply to 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 someone isn't stealing your ideas and you need to be enlisted in your zone for the type of business you are running
Step back before going forward. Include all of your thoughts and ideas and frame the desired outline for your assignment. Almost everyone scratches their head cursing the concerned subject topic. This happens primarily because of two reasons, first if they haven’t had done their research well or if they are all puzzled by the haphazard paragraph arrangement.
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Importance of Company or Corporate Law
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 higher 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.
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