Legal Factors Affecting Business

 T A S K - 2 


·         What is Organizational Law?

The law on business organization takes into consideration all the ways in which a company can be legally incorporated.

A business can be:

ü  A partnership

ü  An Association

ü  A Limited Liability Company

ü  A Corporation

Among others.

Each type of business organization has advantages and disadvantages in terms of tax, management and liability.

That is why each one must satisfy certain functions in addition to considerate such aspects as the allocation of authority and the distribution of profits among the participants.

Another important function is taking care about property rights among the creditors of the owners and managers of the company.

 

·         What does Employment Law refer to?

The law explains in detail the proper and regulated manner in which a worker and an employer/manager/owner should work together. In order to ensure a healthy, respectful and equal working relationship.

In this law there are sections such as:

ü  How and when an employee can work

ü  Salary

ü  Minimum safety conditions

ü  When a person can be hired or fired.

ü  Anti-discrimination laws

ü  Inequitable employment practices

ü  The phases of the employment process

ü  Privacy in the workplace

ü  Schedules

ü  Family benefits

ü  Vacations

ü  Maternity and paternity rights

ü  Reporting of irregularities

Employment laws are based on federal and state constitutions, legislation, administrative rules, and court opinions.      

                   

·         How are Consumer laws defined?

Consumer law seeks to achieve a balance between the sales and purchase relationship between buyers and sellers.

Sellers are expected to be honest in their practices.

In this law, both state and federal laws are involved, with the mission of ensuring the correct relationship.

The laws are:

§  Consumer Guarantees Act

§  Fair Trading Act

§  Credit Contracts and Consumer Finance Act

§  Privacy Act

§  Product Safety

§  Consumer Information Standards

 

These laws protect:

§  Prohibiting false advertising

§  Explicitly adding product safety measures

§  Regulating debt collection practices

§  Protection of consumer data

§  Unauthorized credit card charges.

And more

 

·         What is Securities Law?

Securities laws are those regulations that stocks, mutual funds and bonds must follow.

These laws serve to:

ü  Prevent fraud

ü  Insider trading

ü  Market insider trading

ü  Market manipulation

ü  And, of course, to promote transparency.

It is unacceptable to used information to manipulate the market and profit for it that is why Federal law requires publicly traded companies to file periodic reports with the Securities and Exchange Commission (SEC).

These reports give information of their financial condition, manner and payments to the company's participants, among other things. Investors and brokers depend on this information to make investment decisions.

Both state and federal laws regulate the issuance of securities.

 

·         What does Health and Safety at the Workplace refer to?

 It is a guide to help make employees conscious of their legal rights and responsibilities to work in a clean and safe environment.

Employers have a legal obligations related to have properly maintained facilities that are safe and healthy for workers, customers, contractors and others. 


Employers must:

ü  Design, provide and maintain workplaces that are safe and without any risk to health.

ü  Identify any dangers (actual or potential)

ü  Take measures to control risks.

ü  Provide adequate first assistance facilities

ü  Provide employees with information, instructions and trainings

ü  Establish contingency plans

ü  Ensure that ventilation, temperature, lighting.

ü  Appropriate work equipment

ü  Taking the necessary precautions against flammable or explosive risks

ü  Provide sanitary supervision

ü  Provide appropriate protective clothing, warning signs, and warning signals

ü  Report accidents, injuries, illnesses to the proper authorities

 

Employee rights and responsibilities:

ü  To have no health risks or they are properly controlled.

ü  Safe work equipment

ü  Stop if you feel unsafe

ü  Tell the employer when something is not right

ü  Go to an authority if the employer ignores you


The most common problems at the workplace:

ü  Places without much space,

ü  Inappropriate temperature

ü  Poor ventilation

ü  No natural light

ü  Continuous use of electronic devices that can affect eyesight.

ü  Fire

ü  Falls

ü  Stress, stress burnout

ü  Discrimination and harassment

 

·         What is Taxation?

Taxation refers to when the government collects such a tax (which is a financial obligation) from society, either from a single individual or a company.

Taxes are different from other payments, in this case the government compels taxation, but it is a legal act.

It applies to both physical assets and property, and even to a sales transaction. Its most basic function is to finance government expenditures and on the other hand, It is argued that taxes promote a more equitable society.


Different types of taxes:

ü  Direct (TA) and indirect (VAT, liquor) taxes.

ü  Income tax (the most significant forms of revenues for the government)

ü  Corporate tax

ü  Capital gains

ü  Property tax

ü  Inheritance

ü  Sales tax

Taxation applies to all different types of levies. 


Sources of Information

A Brief Guide to Health & Safety in the Workplace. (2019). Retrieved from https://www.fsunion.org/services/safety/health-safety-guide.html

CIPD. (2020). Employment law. Retrieved from https://www.cipd.co.uk/knowledge/fundamentals/emp-law#gref

ConsumerProtection. (2019). Consumer laws. Obtenido de https://www.consumerprotection.govt.nz/general-help/consumer-laws/

FindLaw. (2020). What Does a Securities Lawyer Do? Obtenido de https://www.findlaw.com/consumer/securities-law/what-does-a-securities-lawyer-do.html

FindLaw. (2020, February 03). What Is Business Organization Law? Retrieved from https://www.findlaw.com/hirealawyer/choosing-the-right-lawyer/business-organization.html

Investopedia. (2021). Taxation. Retrieved from https://www.investopedia.com/terms/t/taxation.asp

 

 

Comments

  1. It is a very complete and well explained work. I like how you discriminate and tell the information, as well as how you separate the information to make it more understandable.

    ReplyDelete
    Replies
    1. Hi, thank you very much for your comments, it helps me a lot to keep working the way I do. I am glad it is understandable, as the laws can be a bit long and I try to cover the concepts well in a simple way.

      Delete
  2. Hi Jacqueline
    It is always a pleasure to read your posts, congrats for always being so dedicated to each one.
    Answering to your question, I think the law that caught my attention the most is the one about employment because it involves many issues to promote fair relations between worker and employers, good job conditions and benefits like acces to medical atention, but sadly it is not like that. Many companies only offer the minimum to their employees to save money and take advantage on the fact that they need the job so they will accept these bad conditions to have one. I think this is very important because as we saw in the topic about human resources, workers are the hearth of a company, so the minimum they deserve is to be treated worthily.
    It is very close to Health and Safety in the workplace, wich by the way I love how you expressed.

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    1. Hello, I am very happy to receive your congratulations, thank you very much for reading my posts even if they are a bit long.
      I think that the laws that take care of workers are essential, I thought it was excellent how you managed the example of bad conditions, in fact that is what happens with many multinationals, they go to countries where the conditions for accepting employment are very low, and Mexico is an example.
      Or, Mexicans who accept jobs in the United States, these are not exactly the best, so this type of law is indispensable.
      Thanks for your comment!

      Delete
  3. Hello Jaqueline, overall your answers were very complete. I specially liked how for every definition you went in depth and provided examples so that it would be more clear for the reader. i specially found interesting your definition in health and safety, it was a good idea to implement the employer and employee needs and must. Good job, it was amazing!

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    Replies
    1. Hi, how are you, thank you so much for taking the time and reading my post. Sure, in fact the workers' laws were among the ones that caught my attention the most, due to the fact that all parts have rights and responsibilities, it is no longer just a pyramidal relationship. Also we must take good care of our person and this law protects us.
      What do you think?

      Delete
  4. Hi Jacqueline, your job is quite well explained, moreover you looked for more information than what we were given, without any doubt I can say that it is the most complete work I have read, thanks for sharing your excellent job.
    I really enjoyed reading it. C:

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    Replies
    1. Hi, thank you very much for reading all my post even if it was a bit long, but when I look for information, I do it from different sources, so sometimes it is a bit long, but I hope it is understandable.
      Thanks for your comment, you did a great job too!

      Delete
  5. Hi Jackie.
    Your works are always so organized and so complete. After reading your article I can understand the terms a little better, you even put the sources of information, so that we can continue investigating.
    But I have a question, do you think the laws are applied correctly in Mexico?
    Thank you for sharing your information.

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    Replies
    1. Hi, thank you so much for taking the time and reading my answers, and of course, for your kind words, it makes me very happy!

      I consider that after a research work it is necessary to put the sources of information, as in this case, that we can continue researching and understanding better and better, all the terms involved in the business world, the one we are going to reach in a few more years.

      Responding to your question, I believe that no, at least not everywhere, since when multinationals come to Mexico, even the government offers them several advantages, besides that among the problems that are argued is that these big companies offer lower salaries, and that is why they can profit more.
      Have you ever heard of that?

      Delete
  6. Hi, Jacqueline! It's a pleasure to read all of your investigations, I like the way you make it clear, concise and well-structured. The importance of knowing about these laws is very relevant since at some point we will be developing as workers and it is correct to know about this in advance, your information is complete and well defined.

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    Replies
    1. Hi, thank you very much for reading all my post and taking the time, I am glad that my answers are understandable and can help more people to understand a topic that I found difficult at the beginning.
      I appreciate your comment!
      And great job on appreciating the laws, I learned a lot for the future too.

      Delete
  7. Hi Jacqui!!! thanks for sharing this pretty job, and yes I agree with that emloyement "order to ensure a healthy, respectful and equal working relationship." And of course without them companies would abuse of us, and I think it is something so importatn that every single one of us should know about them in order to no to be fooled

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    1. I totally agree with your comment, it is important to know them because the business world is very diverse and we will enter it in the near future. Nothing better than to understand these definitions from now on.
      Thank you for your comment, I appreciate it very much!

      Delete
  8. Your work is very well explained, thanks because the subject was clearer to me

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    Replies
    1. Thank you so much! I appreciate your comment, what is your favorite law? Mine is "Securities Law", because it is something new to me, i did not know about it, what about you?

      Delete

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