business law assignment help in perth

business law assignment help in perth

The Impact of Business Law on Corporate Operations: A Comprehensive Study

1. Introduction to Business Law and its Relevance in Corporate Operations

Business law is nothing but a comprehensive conglomeration of all laws with material consequences dealing with investments, sources of investments, capital, credit or borrowings, market-driven dynamics, operating environments, and environmental issues. For this comprehensive concept, the corporate managerial skills are addressed with all the statutory implementations and their descriptions in the corporate business laws.

The business law applies to corporate houses that are long-term investors. Otherwise, business law applies to any individual or business entity, irrespective of its size and scope. The scope of business felicity and business law is a sign of civility. The business operation or managerial decision-making should not go beyond morality, ethics, and corporate governance.

The business law is concerned with the rights of people to engage in business and sales, and finance their activities and to conduct all types of consumer transactions. Business law is the body of laws that govern commercial transactions, consumer promises, competition, corporations and partnerships, in particular the laws which aim to protect the creditors, shareholders, and corporate entities.

Today, regardless of the nature of the corporate business itself, the fundamentals of business law have relevance and application to corporate business operations. For business law to serve its corporate purpose, the laws have to be based on some fundamental principles of commercial jurisprudence or of law in general. To impart a functional meaning, it is imperative to understand the context in which laws function and operate in the existing business environment.

2. Key Legal Principles and Frameworks in Business Law

‘Key Legal Principles and Frameworks in Business Law’ aims to provide an insight into the fundamental, regulatory, and global legal framework within which corporate operations are conducted. The section primarily deals with the basic principles of business, particularly the fundamental concepts of law and incorporating why businesses should translate these into action points. Furthermore, the section serves to provide a base and overview of what fundamentals in law should be considered by business professionals. The significance of the study of this section lies in the fact that it ventures into the basic facets of law which every individual involved in a business environment needs to take into account in the corporate world. It consists of framing major legal dimensions in the case of business, which are prevalent and create hurdles for the business operations of an entrepreneur. Although the formal study of international business law may not be mandatory for every business professional, a brief theoretical knowledge of the subject ought to be a compulsory component of a business professional’s training, especially in the present dynamics of globalization.

Change is the only constant in the world of business. Therefore, it is but natural that the law which governs and guides business and corporate undertakings is dynamic in nature. Keeping abreast of laws, rules, and regulations is essential for any business professional. However, doing so without an understanding of the theoretical underpinnings for the same could be limiting in nature. A business law professional, in order to be able to advise business professionals, professionals seeking to start up businesses, or even entrepreneurs in legally significant situations, must gain an understanding of key legal considerations applicable to business activities. Additionally, each business function may have a legal angle to it, and legislation is often sector-specific. It is only when one is armed with the basic concepts that inform all decisions in law that one can practically see the interconnectedness of issues.

3. Application of Business Law in Corporate Decision-Making

In all three aspects, there are similarities, as the integration of legal considerations may help managers align the strategies of their companies with the legal rules of society. Business law is a part of the legal regulations that relate to the different firms. It is different from international law or global public law and focuses entirely on businesses dealing with other companies, the government, or other stakeholders. In the practice of business entities, this business law may involve one or other of the implementation of the program by the company manager/management.

Third, with respect to the provisions of business law that business managers find difficult to comply with, business management considers different solutions before final agreement.

Second, business lawyers could assist business managers to adapt the business model to the requirements of business law. It is more of a strategic view, where business lawyers will strategize for business managers how to tackle legal threats or how to optimize business by complying with legal rules.

First, business lawyers could act as counselors to business managers. By using their legal expertise, business lawyers propose workable arrangements to manage managers within the company based on the legal relationship.

In order to illustrate the tangible impacts of business law in the managerial realm, I provide an overview of the legal relationships and duties that a business must comply with in Sec. 3, “Application of Business Law in Corporate Decision-Making.” I focus on the following three aspects:

4. Case Studies and Practical Examples in Business Law Compliance

Case Study 3: Mondelez Tax Loss In June 2017, pharmaceutical and packaged goods company Mondelez International was hit by significant investment loss. Not on the stock market, but on its tax. Mondelez reported that it had sustained multi-million dollar losses, not through investment, but as a direct result of an offshore cyberattack. In 2017, the now infamous ransomware infection ‘Not Petya’ spread rapidly through the systems of several international organizations in Europe. In the case of Mondelez, this meant that all online systems froze and the company was unable to conduct any business. Not only did the organization suffer severe operational disruption, including canceled orders and compromised inventory, but the direct financial cost was astounding. Legal compliance and the financial matters affecting Mondelez will be considered in depth.

To critically reflect on the interlinked implications of business law on organizational operations, we offer three case studies and practical examples: The Volkswagen Diesel Scandal, Google’s Data Collection Controversy, and Mondelez Tax Loss. These cases, all varied, centered on international organizations serving diverse segments and showcase the intricacies of business law compliance in the contemporary commercial landscape. Furthermore, they underline potential consequences of non-compliance, as well as the repercussions of any violation of relevant laws. Collectively, these case examples cover and reflect a range of business law practices and reflect international and national perspectives to offer a comprehensive overview of the topic.

5. Future Trends and Developments in Business Law

Business law is a constantly evolving regime that is influenced by broader developments as a general principle. Those governing large corporations are essential participants in this process, as they invent the ways in which law enters into their decisions. They respond to changes in business practice, legislation, and case law. Legal officials in companies and law firms predict the outcomes of lawsuits and transactions, and in so doing they invent law on the basis of their calculations, which frequently depend on their assessment of the emotions of judges and the enforcement strategies of public authorities. Even countries as small as England are influenced by multinational corporations as they develop their own regulatory regime in response. As we enter the new millennium, the following trends can already be seen. Business law generally is informed by notions of rights and obligations as a regime of its inquiry, with a focus on those who participate in commercial contracts and activities. In the times of early mercantile law, the subjects were the kings of England and their trading companies, while that government devised investment and other regulations to promote their campaigns abroad.

In the coming years, we are likely to see some interesting developments and trends in business law and corporate governance. Innovations in computer technology have almost limitless potential to revolutionize business. The rapid development of artificial intelligence is likely to transform the ways in which businesses are managed. The use of algorithms and artificial intelligence is likely to enhance corporate decision-making. At the moment, humans are required to ‘teach’ computers how to make the right decisions. However, it is possible that in time, external intervention will no longer be required, and that companies could be managed not by humans but by computers. This raises a number of legal issues. At least initially, it is likely that liability for corporate decision-making by computer will be allocated to human directors, in line with the existing case law, on the basis that the algorithms concerned are owned by the company and under its control. In the future, however, computers with artificial intelligence may be given ‘legal person’ status. It is unclear whether artificial intelligence will act in inevitable and predictable ways to generate conflict or will lead it to take account of the interests of the company. Contracting and tort laws will have to adjust to accommodate businesses being based on artificial intelligence. This trend will be difficult to predict fully, but there are likely to be significant implications for corporate law and corporate operations as computer technology develops. Equally, the legal system is becoming more international. The volume of international trade and business within Europe continues to grow as part of the single market. The numbers of international businesses are also increasing. As these trends continue, legal activities will need to respond to the international character of such businesses. We are likely to see business law developing in a number of ways.