BUSINESS LAW

Business Law



Business Law

Introduction

In our society everything was governed by certain laws, rules, and regulations. Simultaneously law plays very important role in conduct of business; we call it business law or commercial law which governs every aspect of business. When developing any business, we should consider and take into account all the laws and regulations that will apply to it, to ensure its full compliance to the law (James, 2011, 12). A business can possibly face heavy fines if it is found not in compliance with law. In this paper we are going to focus on business law of a new business. This paper is divided into two parts in which part A will answer some question regarding legal binding of a new business and in part B we shall write a letter to the lawyer legal discussing legal obligations after dismissal of a worker. The purpose of this paper is this paper is to let readers know about the importance of business law in development of new business.

Part A

In this part of the paper I shall be starting a new cafe for which it is very important to consider various legal issues. These legal issues are discussed below:

Description of Business

Wherever go in the world we can see several restaurants and cafes doing extremely good business. Starting a cafe is a famous business idea and considered as the most profitable business of today. Do if I have to start a new business I would choose of open a cafe. It will be a coffeehouse. The cafe will be opened in the Sydney located in renovated house in Chippendale, across the street. The coffeehouse will focus on students, professionals, and locals. Drip and Sip coffeehouse will have moderately priced coffee to an upscale casual coffee market. The cafe will mainly deal in brewed coffee and espresso based beverage, juices, fruit smoothies, and other beverages associated with coffeehouse. However it will also sell snakes such as cupcakes, hot dogs, sandwiches, pizzas, and burgers. With creative decor and effective positioning strategy I will make it a hotspot for people. The cafe shall be open 7 days a week, from Moring 8am till 8pm in the night. As it is a small cafe thus it will initially be employing 10 to 12 employees or Barista including waiters, managers, and chefs.

Business Structure

For Drip and Sip cafe I shall chose sole proprietor as Legal Structure.

Reasons for Sole Proprietorship

Following are some important reasons for selecting Sole Proprietorship for Drip and Sip. First reason for choosing this type of structure is that it is owned by one person because of which there will be no conflict. Second reason is low start up cost as small; amount of capital is required to start and run the business. Third reason is that it has less legal complexity as compared to other business structure. Fourth reason is to maintain secrecy which is very important in initially stages of the ...