Business law and business management are two mutually exclusive fields of study. Although they have common connections with the same professions, they are always treated as separate branches of education that need different expertise
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1. Formation of the Business
A business is nothing but a legal construction. Without the legal structure, your business ceases to exist. There are mainly three types of companies that function under the legal framework of any country: proprietorship business, partnership business, and limited company.
If you agree to start your business only with your present capital, it is called a proprietorship business.
It is a partnership business when you have two or more partners to run the business. Partnership business depends on partnership deeds where the shares and responsibilities of an owner are delineated.
It is called a limited company when you release shares and debentures for others to invest in your company. There are no single owners of the business here. Instead, all shareholders are owners of the portions they have invested in the company.
2. To develop legal intelligence
As managers, your responsibility is to check whether the company is meeting all legal standards or not. Having the same legal intellect as professionally trained lawyers will never work. However, you can make up with your legal case if you have read the basic business laws and judge a situation according to that.
Legal glitches are not petty in any way. On the contrary, they can take a company’s resources away and continue through life. But it is important to become legally aware in every situation.
For instance, if you are indulging in a business contract, you must know the basic requirements of contract law. Whether it is feasible to handle the situation accordingly or not is a matter of legal perception.
Hence it is necessary to put sufficient business laws into your business management course. Business management courses are indeed full of theories and implementations of so many business practices. But if you cannot put your legal senses in place, even your legal experts can disguise you with their legal intentions to settle personal scores.
3. Handle legal roadblocks
Legal roadblocks are part of regular business practices. Any corporate office has separately trained people to deal with the legal glitches that keep on popping up every day in one sector or another. If your managerial skills are coupled with legal acumen, nobody can stop you from penetrating deep inside the permanent and occasional glitches and quickly finding solutions.
It is a gift to have a manager who has a fair amount of knowledge in business law. Hence, you must enrol in a course where you have business laws as part of business management.
Also, you should know the pertinent laws that back up the immediate requirements of your business.
So, it is expected that you will take care of your business much better if you study relevant laws and give your legal team the necessary instructions to tackle a situation effectively
4. Representing your organisation
If you have to represent in a court of law on behalf of your organization, in any case, then it will be murderous for you too. There are many court cases that continue for years. Generally, you hire a professional lawyer or experts from your legal team to deal with such a situation. But you know the length and breadth of the case more than any of your legal experts. You have the best option to choose myassignmenthelp.com for doing business management course. For more information read the myassignmenthelp.com review
Either way, you have to explain the situation to the solicitor in detail. All that is good, but you must know that you can resolve your problems more if you deal with the legal intricacies by yourself. So, these are the pertinent points why you study business law in your business management course. For more writing click here
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