Introduction to Business Law and Ethics
Business law focuses each and every facet of doing business. It encompasses laws related to company formations, type of entity and its structure, mergers and acquisitions, shareholder rights, employment laws etc. Business Law is specific to the nature of the organisation whether it is a partnership, private company or a public limited company. Business Law comes under the purview of both state and central authorities. In most countries, central governments look after the investments, capital market related norms, and workplace safety related issues, employment laws and environmental related issues. At the state level, laws mostly pertain to licensing and permissions for carrying out certain businesses.
Typical contracts under business law encompass sale of goods, delivery of services, commercial paper, agency and employment law and property related issues. Law forms the basics of conduction a business both at the national as well as the international levels by providing the framework within which the businesses can operate.
This in a nut shell Business laws refer to the law that applies to business entities, such as partnership and corporations and its functioning. Law as a subject is a very intricate aspect of the broader subject of financial studies as well. Ethics in a broad sense relates to those aspects of the human behaviour which determines if it is right or wrong. Theoretically, ethics help distinguish between good and bad. Business ethics emanate from the culture which has been set in an organisation to help employees distinguish between what good and bad decision making is all about. Ethics in business is about doing what is right for the broader set of its stakeholders and not confined to responsibilities towards shareholders.
Difficulties encountered in writing Business Law and Ethics assignment/assessments?
Students often complain of Law assignments being very lengthy and confusing in nature. It is also an important component of Management and Finance related studies and not just for those looking at working in the legal field. It is important to note that Law as a subject is complex and circumstantial and hence it is important for students to understand what law is applicable and more importantly how it needs to be interpreted. This requires a lot of reading of the theory and how the law was perceived in actual cases.
Further Business Law as a subject is very vast and has branches which are applicable under specific set of circumstances and facts. For example in case of a partnership the liabilities of the partners are very different from the directors in a company. Students normally find it difficult to remember what is applicable where given the nature of the business. Further it is not enough to know the law alone but it is imperative for students of law to understand as well as remember as to how a certain law was interpreted in various real life cases which are similar to their assignment. Law assignments require giving references and judgements passed from a host of similar cases admitted in the court of law previously.
Further in an era which is synonymous with globalisation and internationalization of trade it is imperative for students to have knowledge of the same laws in various countries. This makes assignment solving all the more complex and cumbersome. For example if a student is working on a merger or acquisition between companies belonging to two different countries, they would have to refer to Mergers and Acquisition Laws from both the countries.
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Students who are anyway burdened with a number of assignments across subjects might find it difficult to give justice to law assignments in terms of time commitment and the depth of research required. They are not well equipped to cite real life cases and apply the judgements in such cases to their assignments, which is usually very crucial in case of Business Law and Ethics assignments. This is where our panel of experts from the field help you with assignment solutions. We just require an assignment brief which includes the case study, deadline, format required and citation style required along with your email ID.
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