Initiating a business activity begins with the submission of paperwork for ensuring the legal existence of a business. There are different kinds of business entities including partnerships, corporations, limited, private limited, proprietary, and non-government organizations. Business law considers all aspects of a business including operating, starting, running as well as expanding a business. This is a comprehensive law, which covers the rules and regulations to set-up, runs, purchase, and close down a business. Our business law assignment help experts understand the needs of students.
What are the Different Laws that Govern Business?
The different laws that govern a business are discussed in our Legal Aspect of Business assignment help in Australia as follows:
Employment Law: After setting up a business, the priority is hiring employees. There are rules to hire employees and the employers should be acquainted with them. Employment rule is designed for defining the relationship between employers and employees. It states all details regarding the working conditions, benefits, pay, responsibilities of employers, health insurance, safety and security measures. Employment law is a legal aspect of a business. The significant laws regarding employment laws include Minimum Wages Law, Overtime Pay Law, Collective Bargaining, safe working conditions, and others.
Bankruptcy Law: Business lawyers help employers in good and bad times. When businesses suffer financial loses, lawyers, help to analyze and evaluate the feasible options. During this time, filing bankruptcy is the only option. Different enterprises have to select different filings according to the type of business.
All businesses are considered as a kind of legal entity, which governs the manner they are treated by the law. Some business structures such as the LLPs and Corporations have free-standing entities and their owners have limited liabilities. In a sole proprietorship, the owners have all rewards and liabilities. The kind of business entity you choose depends on the liability profile. The law considers different businesses as per the criteria that shall differ.