Political, Legal, and Regulatory Issues Affecting Business Organizations

 Legal factors affecting business

Student’s Name: María Guadalupe Medina Jasso

NUA: 116492

INSTRUCTIONS: After reading the introductory paragraph below, write a definition of each of the aspect presented.  

When business companies operate, they expect to face different internal and external factors that can affect their organizational operativity. Among all these factors, legal ones might greatly influence business organizations and affect how different companies operate. There are several legal factors that affect businesses in many forms, including laws and regulations on taxation, employment, contract, securities, immigration and many more. The law affects the way businesses operate. That is the reason why any business should have a clear understanding and knowledge of the legal environment in which business organizations have function because these factors may determine its success or failure.

DEFINE IN DETAIL.

 

What is Organizational Law?

 

Business organization law is the body of law that relates to creating, managing and dissolving businesses. There are several ways to organize a business. Each type of business structure has its own set of rules to follow. Each type of business structure also comes with its own advantages and drawbacks. A business lawyer helps their client choose the right business structure, complete paperwork filing, manage ongoing organizational issues and even helps dissolve the business when it’s appropriate.

 

What does Employment Law refer to?

 

The area of practice known as employment law covers the rights, obligations, and responsibilities within the employer-employee relationship-from wages and workplace safety to discrimination and wrongful termination. Employment lawyers typically specialize in representing either employers or employees, but rarely both. Those who represent employees might assist unions or work directly with employees to file lawsuits against employers or negotiate settlements for a wide range of grievances.

 

 

How are Consumer laws defined?

 

Consumer law involves all of the regulations and statutes that seek to create a more equitable balance for buyers in the marketplace and prevent sellers from using dishonest tactics. A consumer is any individual who purchases goods or services, which may be sold by manufacturers, wholesalers, or retailers.

 

What is Securities Law?

 

Securities laws are the laws and regulations governing financial instruments such as stocks, mutual funds, and bonds. These rules are designed in part to prevent fraud, insider training, and market manipulation, while also promoting transparency through a complex system of reporting and enforcement.

 

What does Health and Safety at the Workplace refer to?

 

Occupational health and safety refers to programs, guidelines and procedures that protect the safety, welfare and health of any person engaged in work or employment. The overall goal of any health and safety program is to create the ultimate safe working environment and to reduce the risk of accidents, injuries and fatalities on the job. Occupational health and safety also protects the health of customers and the general public as well as anyone else that might be affected by the particular working environment.

 

When health and safety procedures are followed correctly, they can help to prevent accidents and reduce the risk of employee injury and illness. They will also reduce costs such as sick leave, medical care and disability benefits.

 

What is Taxation?

 

Taxation refers to the fees and financial obligations imposed by a government on its residents. Income taxes are paid in almost all countries around the world. However, taxation applies to  all payments of mandatory levies, including on income, corporate, property, capital gains, sales, and inheritance.

 

Taxation is involuntary; hence it does not require consent from the residents. Therefore, the government may resort to the use of force and threats to implement successful taxation.