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ASSIGNMENT 2.................................................................................................2
Task 1...............................................................................................................2
Task 2...............................................................................................................5
Reflective piece on understanding business law:.........................................5
Bibliography.....................................................................................................6

ASSIGNMENT 2

Task 1
[Kai McDaid]
[[email protected]]
December 4,2024.
Subject: Advice on Your Queries.
Dear Kai,
We appreciate your contacting us with your thorough questions about your legal and business
issues. I'm pleased to help by offering thorough guidance on every matter you've brought up,
making sure you're prepared to proceed with assurance on your business endeavors. Let's start by
talking about the food truck problem. According to the Consumer Rights Act of 2015, products
must fulfill three requirements: they must be of acceptable quality, appropriate for their intended
use, and accurately depicted. There may have been a violation of this Act because the truck
became undriveable after the wheel axle broke so quickly after purchase. Practically speaking,
this indicates that the seller has not met their legal responsibilities. Contacting the seller and
clearly outlining the circumstances, citing your rights under the 2015 Consumer Rights Act,
should be your first course of action. Depending on what is most useful and advantageous for
you, ask them to either fix the truck, replace it, or give you a refund. If the matter worsens, it will
be helpful to keep a record of all correspondence with the seller, including times, dates, and the
topics of your conversations.
You can get more help from the Citizens Advice Bureau, which offers free and unbiased advice
on consumer matters, if the seller refuses to cooperate. They can offer advice on what to do next
or mediate on your behalf. It is possible to take legal action in the small court of claims if the
disagreement cannot be settled. The procedure is rather simple, and the seller may be ordered by
the court to pay you a fair amount. By doing these things, you can make sure that your legal
rights are properly upheld. It is crucial to thoroughly consider any possible intellectual property
conflicts about your suggested company name and tagline. Nike owns the well-known trademark
"Just do it," and using it, even in a different context, could lead to trademark infringement
lawsuits. The reputation and financial standing of your company could be harmed by such
disputes, which could be expensive and time-consuming.
Like this, careful research should be done on the name "MyPyramid" to make sure it doesn't
violate any already-existing trademarks or other intellectual property rights. The purpose of
trademarks is to preserve distinctive branding components, avoid market misunderstandings, and
protect company identities. You can find out if the name is available for use by performing a
thorough trademark search using the Intellectual Property Office's (IPO) database. If disputes
emerge, think about changing your name and tagline something distinctive and safe from legal
action. Speaking with an intellectual property lawyer can give you more peace of mind and
shield your company from unanticipated legal issues. When it comes to your company's
structure, I can appreciate your desire for privacy, simplicity, and limited liability. Private
Limited Companies (Ltd) are a good fit for these goals. The important advantage of forming an
LLC is limited liability, which shields your personal assets if the company faces legal challenges
or financial difficulties. Your risk is reduced by keeping your personal and business finances
separate.
Because an LLC functions as a distinct legal entity, it also enables you to preserve your privacy.
Even though there are certain administrative requirements, like yearly filings and keeping
accurate financial records, these are doable and provide substantial benefits in terms of
credibility and protection. Additionally, a limited liability company (LLC) is a practical option
for your objectives because it is easier to terminate operations than other corporate structures.
There are important factors to consider when your cousin joins the company, whether they will
be an employee or an owner. Your cousin would be an owner, share in the company's earnings
and obligations, and possibly provide helpful resources and ideas. A shared dedication to success
and a stronger partnership can result from shared ownership. This arrangement does, however,
come with risks, as disputes over financial or strategic issues may turn into hostilities. Roles,
responsibilities, and dispute resolution procedures must be clearly defined in agreements, such as
a partnership or shareholder agreement. These documents offer a structure for handling the
relationship and preventing miscommunications.
Your cousin can make an operational contribution without having any say in strategic choices if
they become an employee. With this arrangement, you can take advantage of their expertise and
assistance while maintaining complete control over the company. Additionally, employment
offers a well-defined structure with roles and expectations that can facilitate the management of
the working relationship. Furthermore, ending an employment relationship—if needed—is
simpler than ending a partnership or changing ownership. It's usually wise to begin with an
employment agreement so that both parties can evaluate their compatibility in a work
environment before thinking about joint ownership.
For your company, public liability insurance is yet another crucial factor. This kind of insurance
guards against third-party claims for harm, property damage, or other losses brought on by your
company's operations. For instance, public liability insurance would pay for the expenses
incurred if a customer slipped close to your food truck or if the truck unintentionally damaged
someone's property. Without this insurance, your company may be exposed to large financial
obligations that could endanger its long-term viability. Because clients and customers frequently
expect businesses to carry this insurance, having sufficient coverage not only protects your
finances but also boosts your credibility.
It's crucial to safeguard your financial interests in the event contract, where you are paid £5,000
to operate at a private party mini festival. Create a thoroughly written contract outlining the
terms of payment, including the £2,500 down payment and the remaining amount due at the end
of the event. To formalize the agreement and give it a legal foundation for enforcement, make
sure both parties sign the contract. Include clauses in the contract that specify penalties for non-
payment or late payment to protect against non-payment. These clauses ought to make it
apparent what happens if the agreement is broken, including interest charges on past-due
amounts. The first thing you should do is send a formal letter before taking any further action if
the organizers do not pay the outstanding balance after the event. This letter indicates your
intention to take legal action if the matter is not resolved and acts as legal notice requesting
payment within a given time frame.
The next step is to file a claim in the small claims court if the issue is still unresolved. This
procedure provides a simple and affordable means of recovering money that is owed and is
intended for disputes involving comparatively small sums. After reviewing the evidence, the
court will decide whether your claim is legitimate and order the organizers to make the payment.
By doing these things, you can make sure that your business is safe, and your financial interests
are safeguarded.
To sum up, the points you brought up emphasize how crucial it is to handle legal, operational,
and strategic issues carefully and diligently. You are laying a strong foundation for the success of
your company by upholding your consumer rights, protecting your intellectual property,
selecting the best business structure, managing relationships skillfully, obtaining sufficient
insurance, and formalizing agreements.

If you need any additional help or clarification on any of these topics, don't hesitate to get in
touch with me. I am available to help you at every stage of your business endeavors.
Kind regards,
X.Y.Z.

Task 2
Reflective piece on understanding business law:
Effective and moral management of commercial operations depends on a
solid understanding of business law. This module clarified how the law
maintains a balance between private interests and the welfare of society,
and it has deepened my understanding of its relevance to entrepreneurship,
my area of business specialization.

The importance of contract law has been one of the module's main lessons.
In business, whether interacting with partners, suppliers, or customers,
contracts are essential. Businesses can create explicit and binding
agreements by following the principles of contract formation, which include
offer, acceptance, consideration, and intention to create legal relations. As
an entrepreneur, for instance, I might bargain for partnerships for co-
branding or supply agreements for raw materials. I can reduce the likelihood
of disagreements over terms or agreement violations by being
knowledgeable about contract law. I've learned how to evaluate and draft
contracts to safeguard my company's interests while being equitable to the
other party thanks to the module's emphasis on problem-solving in
contractual situations (McKendrick, 2020).

Another important topic I investigated was intellectual property (IP) law.

Entrepreneurs frequently depend on original concepts and branding, so
safeguarding these resources is essential. The significance of copyrights,
patents, and trademarks in promoting fair competition and protecting
innovation and creativity was underlined in this module. For instance, if I
create a novel product design, I will file for a patent guarantee that rivals
won't be able to copy it without permission. In addition to promoting
innovation investment, this protection guarantees that customers will receive
a wide range of superior products (Cornish, Llewelyn & Aplin, 2019).

The module has also focused on employment law. Understanding and abiding
by legal requirements, such as fair compensation, anti-discrimination
policies, and workplace safety regulations, is essential to hiring and
managing staff. Respecting these laws reduces the possibility of legal issues
and fosters a productive workplace. For instance, the Equality Act of 2010
ensures inclusivity by outlawing discrimination on the basis of protected
characteristics. This information is crucial because it promotes moral
business conduct that draws and keeps talent while upholding social norms
(Lockton, 2020).

The module also emphasized the significance of public safety and liability
laws. Entrepreneurs oversee making sure the public and customers are not
harmed by their goods and services. This is consistent with the principles of
negligence, which require businesses to exercise a duty of care. For example,
adhering to health and safety laws when starting a food truck business not
only helps me stay out of trouble with the law but also increases customer
confidence. These laws serve as an example of how corporate operations
and social protection can coexist (Jones & Feltham, 2018).

Business law functions as a tool for balancing societal interests in a larger

sense. While competition laws restrict monopolistic practices and promote
equity and accessibility, consumer protection laws guard against
exploitation. By ensuring that companies behave responsibly, this legal
framework promotes social progress and economic stability.
To sum up, this module's insights have improved my capacity to confidently
and morally traverse legal environments. I can pursue my entrepreneurial
goals and help create a just and equitable society by comprehending and
using business law.

Bibliography
 [PDF] Intellectual property: Patents, copyright, trademarks, and allied
rights | Semantic Scholar
 Introduction to Business Law | Law Trove
 Jones, L., & Feltham, R. (2018). Introduction to Business Law. 5th ed.
Oxford: Oxford University Press. - Search
 https://www.bing.com/search?q=Lockton%2C+D.+
%282020%29.+Employment+Law.+11th+ed.+London
%3A+Palgrave+Macmillan.&qs=n&form=QBRE&sp=-
1&lq=1&pq=lockton%2C+d.+%282020%29.+employment+law.
+11th+ed.+london%3A+palgrave+macmillan.&sc=0-
72&sk=&cvid=EF734C679ED3433BA29F5526B214DD2F&ghsh=0&gha
cc=0&ghpl=

 Contract Law: Text, Cases and Materials | Law Trove

 McKendrick, E. (2020). Contract Law: Text, Cases, and Materials. 9th
ed. Oxford: Oxford University Press. - Search