The paper "Legal Requirements for a Small Business" is a wonderful example of an assignment on business. Describe the nature of your current proposed business and state whether it is intended to be a profit or for no profit. The intended business is a cake making business that will be supplied to local restaurants, cafes, and hotels, and schools. The business is a profit organization because the sales are expected to be higher than the costs of sales so that employees of the business can be employed and the owner can get a profit margin. What are some of the sources you could use to obtain information about the appropriate legal structure for a new business?
How could you categorize them? The category below is based on the level of importance starting with the most important. Government ministriesLaw firmsIndividual layersThe legal structure of a similar company. Choose a new business that you might be interested in starting. Identify possible options for the legal structure of the business. Which business models do you think is the most appropriate? Explain your choice. The business to be formed is a soft drinks manufacturing company and the structures options for the company include the following: Company structure: the company can be registered using this structure where the liability of members to the company is restricted to their shares in the company.
When a company is registered, it becomes s legal entity and it can hold property and sue or be sued. Incorporated association: the company can be incorporated under state laws that are based in various states or territories. When the two methods are compared, it is suggested that the Company structure method should be followed because it will ensure the company is created differently from its members. Assessment Activity 2 Use the internet or local library to locate legislation, codes of practice, or other regulatory measures that could have an impact on your current or proposed business.
List the correct name of three Acts, codes, or other regulatory measures. Reproduce one provision in each. Describe what each provision means Work safety act 2008: This is a law that ensures businesses comply with the safety of workers at work place by putting measures which prevent injuries that might affect the employees.
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