Business Law (BL)
Business Law (BL)
Business Law (BL)
(BL)
(BM 33)
Acknowledgement
Ms. Salmah Kaleel, my business law (BL) lecturer, deserves special respect, which
directed me through business law assignment and supported me in attaining future
plans, as a result of which I learned a great deal. Finally, I'd want to communicate my
thankfulness to my friends from the Bcas family.
Table of Contents
Acknowledgement..............................................................................................................................1
LIST OF FIGURES.............................................................................................................................2
LIST OF TABLES................................................................................................................................2
LO1.......................................................................................................................................................3
TASK O1..............................................................................................................................................3
1) Introduction to Law’.................................................................................................................3
2) Legal system............................................................................................................................3
3) SOURCES OF LAW...............................................................................................................4
4) Role of government in law-making.......................................................................................7
5) Reforms in Srilanka................................................................................................................9
LO2.....................................................................................................................................................11
TASK O2............................................................................................................................................11
1) Introduction to the business.................................................................................................11
2) Types of laws and how they affect the business?............................................................11
a) Contract law (general)..........................................................................................................12
b) Data protection law (general)..............................................................................................12
D) Intellectual Property Law (general)........................................................................................13
c) Employment law (general)...................................................................................................13
d) Anti –discrimination law and Equal Opportunity law (general)........................................14
e) Consumer protection law (general)....................................................................................14
Different between the impacts of legislation, regulation and standards................................15
Conclusion.....................................................................................................................................20
References...........................................................................................................................................21
LIST OF FIGURES
Figure 1 - SOURCES OF LAW..................................................................................................................4
Figure 2 -Role of government in law-making..................................................................................7
LIST OF TABLES
Table 1 - Differences between common law and statutory law............................................................8
Table 2 – Regulations...........................................................................................................................17
Table 3 - Why standards are important?.............................................................................................18
Table 4 - ISO STANDARDS....................................................................................................................19
B) Case Law
Case law is the law found in court
decisions. Judges' decisions in
individual instances are applied by the
Figure 1 - SOURCES OF LAW other courts in following instances
through tradition. When the material
facts are the same, previous superior
Legislation is law approved by court judgments bind future or lower
Parliament. The process of making courts.
Ex-: Marriages and divorces are Ex-: Religious law involves religious
handled according to customary law. traditions' set of ethical standards...
Compensation for different Jewish halvah, Islamic law, Christian
LO2
TASK O2
1) Introduction to the business
Dazler Soap Business
I made the decision to begin planning the release of a new soap called "Dazler" to
the market. This business is located near Peradeniya town, and it would be easy for
me to produce the goods for the market. My business "Dazler" is a limited liability
company. The company is run by two groups of people: me as the owner and the
managing members. In order to increase team spirit and mental wellness, as well as
bring fresh ideas to my company, I will hire exactly 100 people. The management of
the “Dazler” soap business is in the hands of the managing members. My
responsibility as owner and managing member would be to supply experienced
management of the "Dazler" soap business, to properly handle a day procedures of
the "Dazler" soap, and also to supply the best ingredients soap to the market. There
are 3 segmentations or varieties of "Dazler" soap. They are as follows;
Red color - This soap improves freshness that has been lost due to illness and
aging. Gives skin an instant glow, making it look healthy and perfect. Enhances the
appearance of the skin in a significant degree.
Yellow color - Dust, sweat, and oily skin are cleaned from the skin with these soaps
and face washes, which make it simpler for water to clean them off. They are used to
do this.
The above 3 segmentations helps you to avoid skin blemishes, cure rashes, prevent
wrinkles and lines, and reduce dullness etc... Your body needs the best safe, new
feeling you can offer it, and with this wonderful soap, you won't go wrong. Dazler
main target audiences are women between the ages of 15 and 40, to make this soap
more attractively.
The most important reason for having a contract is to secure your rights when you
make a deal with another party. As an example; if you offer to help someone perform
a job in exchange for money but don't have a signed contract, you can have
problems getting them to pay you. (Anon., n.d.)
Contract law is helpful for my company because it provides the legal safeguards that
we have in any activity. Keeping contract disagreements and lawsuits at distant.
Contracts not just to limit risk, but they help avoid communication and agreement
misleading. Contracts not only make us know our interests and responsibilities below
each agreement, but rather they also safeguard our organization. A signed
agreement is not the main thing that matters in a business deal.
Apart from employees, the people who enter into contract arrangements in my
business where we need contracts are: managing directors, suppliers, personal
assistants, intermediaries, cashiers, etc. By holding some choices under the
agreement, our shareholders can be protected.
Example for contract law that will be used in my business -; When staff receive
negative feedback from consumers, Sometimes workers fail to provide the soap
product on time or even supply it incorrectly due to the type of soap the customer
purchased. When an employee declines to fulfill a work properly.
Example -: The Law apply to all organizations that process personal data –
information that may be used to verify a real person, such as names, addresses,
dates of birth, and phone numbers – whether they are public bodies or private
businesses. (Anon., 2022)
Sri Lanka doesn't have a data protection act yet. The constitution of Sri Lanka
maintains the security of people's basic rights, even if it doesn't choose the word
"privacy." Data privacy law is normally issued in the form of bills that recognize data
privacy as a basic right and then detail the methods to protect that right. The lack of
such regulations in Sri Lanka is a big problem. The Computer Crimes Act of 2007
describes all forms of cybercrime in fact, not the protection to data privacy in detail.
Intellectual property rights can be carried, distributed, or licensed in the same way
that other property rights can. They help the developer or owner of a patent,
trademark, copyright, or other kind of intellectual property to profit from his or her
own contribution. (National Intellectual Property office , 2022)
This helps the property owner to discuss their creations with a specific number of
competitors while also keeping the company image.
Due to the high level of competition, starting a "Dazler" soap company is not
going to be an easy way to achieve success compared to other soap businesses.
So, in terms of intellectual property, trademarking is a good process because the
trademark registration is active for 10 years from the date of filing or the last
renewal of registration, and it is renew every ten years.
This can be a key step in keeping our soap company's image. This can stop
competitors from producing our brand in order to steal our customers. This also
gives some security that those Cheaters do anything that harms our brand image.
This supports basically all the quality of employment contracts. When employers
want to make careful employment judgment cases, they must follow all of the rules.
Equal opportunity improves the idea that everyone in an organization has an equal
opportunity to obtain for jobs, be trained and/or moved, and have their employment
ended in a fair and equal manner.
In our "Dazler" soap company, we maintain equal opportunity policies, which allows
us to develop many ideas, great attitudes, various abilities, resources, and
experience. Employees would be truthful in their job and happy if they are satisfied
and treated fairly at work. To prevent discrimination, the "Dazler" soap company
must: Guide and motivate all of its employees about what forms discrimination and
we make sure that employees are paid fairly, that workplace misconduct is
prohibited, etc.
Consumer protection law, often known as consumer law, is a branch of the law that
controls the private law connection among individuals and the companies that
provide them goods and services.
Consumer protection laws are usually created through legislation. These regulations
are meant to keep our businesses from acting in theft or other illegal business
activities in try to win over competition or misleading consumers.
For our Dazler soap company, obeying the rules will help our business avoid legal
issues and inform customers of the prices of the goods it sells. It will also help in
maintaining the company's good name.
Example -: Due to too much chemical ingredient in the new soap you purchased,
your skin gets become allergic. If you read the label, you'll see that the chemical
ingredient isn't as good as it appears on the label. It's made up of a lot of Chemical
ingredients. Consumer protection protects our Dazler soap company's clients from
such situations as I have mentioned above example.
As an example, let's imagine that employee theft and overuse of medicines is part
of a bigger problem with the usage of drugs to manage misbehavior. These are
highly significant problems that should be reported to protection methods.
Data protection -: Our "Dazler" soap business must have been maintained
personal at all times, and special care should be used while handling such important
information. For confirm the correct and accurate information is handed on to Basic
maintenance, keep a detailed record of reporting, talks, child's behavior, and
observations. The records has to be up to date and maintained in a protected place.
These have the legal force and then are granted mostly by government, any
particular minister, or a recognized organization under the administration of a
ministry. Regulations are a method of implementing and executing laws as well
as a guidelines providing regulations based on the law. It was a guideline which
we should respect to.
Consumer rights, health, and safety are all protected by regulations, which
secure that products and services meet limited requirements. They protect the
environment in some industries. Employee rights are also safeguarded by them.
They make sure that the company achieves its objectives in a safe and
appropriate manner. (Grexo, 2016)
Emplo
yment law Employment law helps to provide that both employers are treated
as equals. For employees, this allows that the employer does not
(Employment and
discriminate against them, harass them, or fire them without
Remuneration
Regulation) reason. Employment regulations maintain that the employee
keeps to the contract terms.
Srilanka – factories This covers factory building registration and regulation. This law
Ordinance protects factory workers' health by dealing with issues including
(No. 45 of 1942) overcrowding, air conditioning, and lighting. Health monitoring may
be needed in occupations with a high incidence of accident or
disease. This regulates the safeness of machinery, generators,
and, as well as prevents young and female workers from
performing specific tasks.
Table 2 – Regulations
By following this Standard, we display that our company takes its duties seriously.
Standards, on the other hand, are not the similar as rules, and conforming to one
does not indicate that you could be conforming to all legal requirements.
Standards help that products, services, and systems function properly by
establishing key standards (guidelines or requirements). They provide quality,
security, and performance when employed regularly. They can be developed
purposely or decided to make required by company rules, national or international
legislation, or law.
Soaps have an interest to maintain quality standards, but in any case, the majority of
soap producing enterprises in the country do not follow proper guidelines. In this
sense, the Sri Lanka Standards Institution (SLSI) was failing to respond
appropriately. The chemical is still being used by some soap manufacturers in Sri
Lanka. Some of these soap products may provide a health risk to children and young
people, and the public is warned to be cautious of soap products that cause such
health issues in children.
According to Sri Lanka, there are a few standards that we must apply in our "Dazler
soap," and it allow companies in reducing risk and growing in a safe future, as well
as providing consumers with the satisfaction and lead high-quality products and
services.
ISO 9001 ISO 9001 is the greatest actively used Quality Management System
(QMS) standard in the world. Its role is to allow businesses in more
properly meeting the needs of consumers as well as other
stakeholders. This is achieved by forming a system to verify that
goods and/or service are always of high quality. (Dodd, 2021)
ISO 14001 ISO 14001 is a globally recognized standard that specifies the
standards for an environmental management system. It supports
businesses in improving their environmental performance by
reducing waste and maximizing resource efficiency, giving them a
competitive advantage and winning stakeholders' trust. (Anon.,
2022)
The international standard for Good Manufacturing Practices (GMP)
ISO 22716 for cosmetics is ISO 22716. This document covers procedures for
the manufacture, control, storage, and distribution of cosmetics. ISO
22716 is significant because it takes advantage of GMP, which
connect cosmetic product safety to performance improvement
techniques, to help enterprises to fulfill worldwide customer
demand. (Anon., 2021)
Table 4 - ISO STANDARDS
Conclusion
The summary of Lo1 (Task 1) work discussed clearly on Introduction to law and
Legal system. I have included how legal system is important for a business and also
briefly explained all 3 particular branches of government under the role of
government, and their reforms in Sri Lanka.
In sources of law, I have come up with all the explanations of 8 sources of law with
examples. They are as follows; legislations, Case law, custom, religion, opinion
of writers, treaties, equity, directives. Along with this explanations, I have
explained what is legislation and subordinate legislation with examples
Both Common Law and Statutory Law have been described very clearly with good
examples, and I've connected the significance of both Common Law and Statutory
Aside from that, the lo2 (task 2) summary indicates Based on a thorough description
of the type of business I plan to create along with The business's location, what kind
of business , products and services , are all plainly explained in my business.
With examples, I've explained briefly why different laws affect businesses, how they
affect businesses, and how important legislation is for businesses.
After that I have come up the types of laws and how they affect the business. They
are as follows respectively;
Contract law, Data protection law, Intellectual Property law, Anti –
discrimination law and Equal Opportunity law, consumer protection law
With good examples, the difference between the influence of legislation, regulation,
and standards on business is clearly highlighted. What are the rules and regulations
which we must implement in our business, and how do all these rules and
regulations affect our operations? In my business, they're plainly stated.
Business law students will improve their writing, challenge, and research thinking, as
well as their communication, negotiation, and presenting skills. Mostly as business
law student, we as students get the chance to put these important abilities to the test
in real world situations, increasing your advancements. Getting the lawful learning
helps business owners, managers, and other experts informed of the venture's
interests. This allows them to fight to maintain their company from any illegal
activities performed by other businesses or individuals. The legal decision to create a
business organization, as well as regulations governing the sale of business
organizations, are governed by business law.
References
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Available at: https://www.oqotech.com/en/blog/regulation/iso-22716-good-manufacturing-
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%20consumer%20deman
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[Online]
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