To demonstrate your competency in this module, you are asked to complete a research project based on a real or simulated business and write a report on your findings. You can choose to research your own existing business, another existing small business with permission of its owner or a definite business idea.
If you do not have a business in mind, you may choose a business to research from the following list:
· · hairdressing salon operated by Joanna. Her de facto, John, will help with administration, bookkeeping, etc
· · small plastics manufacturer operated by Joe Bloggs and Simon Smith
· · sub-contractor (electrical, plumbing, bricklayer, etc—choose one). Barry is the tradesman; his wife Susie will do the administration and bookkeeping.
· · café or restaurant operated by Mario and Sophia (husband-and-wife team)
· · retail shop (imported giftware) operated by Mary Brown and Lian Nguyen.
Assume each of the businesses on this list has or will have employees.
We have identified ten main areas where a business may have legal obligations. Work through this list and identify the areas of law that apply to the business you have chosen to research and answer the questions given. If you believe an area does not apply to your business, please outline the reasons for your belief.
Note: Because of the breadth of this assignment, only brief answers are expected to each question.
Research report
Please format your report under the following headings.
Introduction
As an introduction to your report, briefly outline the business or business idea you have chosen as the subject of your research.
1 Ownership structure
(a) Which ownership structure did you or will you choose to operate the business? Briefly outline three advantages of operating your business under this structure. Are there any disadvantages you can see?
(b) What legal responsibilities and regulatory requirements does this ownership structure impose? Consider what laws govern it, any special records to be kept, any special reporting requirements, etc. Briefly discuss how you would comply with these legal responsibilities.
2 Registrations, licences, codes, regulatory requirements
(a) Conduct a BLIS search for the business you have chosen to research. Submit the report as part of your assignment.
(b) Choose one area from the report and discuss how you would implement procedures to ensure you comply.
(c) Briefly outline one way in which you could keep abreast of any changes to regulatory requirements.
3 Occupational health and safety
(a) Conduct research (via the Internet or by contacting the Workers Compensation Authority in your state) and prepare a brief outline of the legislation, regulations and codes of practice that cover OHS in the industry.
(b) Considering your industry, what are the key legal requirements of employers?
(c) What responsibilities fall on employees?
(d) Briefly outline one way in which you could keep abreast of any changes to OHS legislation.
4 Industrial law
(a) What award/s or enterprise agreement applies to the business?
(b) Briefly outline one way in which you could ensure you are kept up to date about any changes to this award or agreement.
(c) What records are employers legally obliged to keep?
5 Taxation law
(a) Which tax registrations are required by the business? (You may have addressed some of these in Question 2. If so, do not repeat them here—just refer back to Question 2.)
(b) Briefly outline three different areas of tax legislation that will apply to the business.
(c) List five key records that the business should keep to comply with taxation law.
(d) Make a list of the tax returns or reports that the business will have to prepare. What due dates should be diarised?
(e) Briefly outline one way in which you could keep up to date with changes to taxation legislation.
6 Insurance
Use the information in the learning resource to determine the types of insurance cover that would adequately protect the business. Prepare a list of types and approximate amounts of cover required using the template on page 279 of the learning resource.
7 Consumer law
(a) Identify two areas of consumer legislation that will impinge on the operations of the business.
(b) List a series of actions that could be taken to ensure the business complies with the areas identified.
8 Intellectual property law
(a) Identify the specific areas of intellectual property law that might apply to the business.
(b) Outline the action you have taken, or will need to take, to meet the legal requirements of one of the areas of intellectual property law you have identified. This might involve protecting intellectual property owned by the business, or obtaining the right to use intellectual property owned by others.
9 Contract law
(a) Identify three business situations where you have arranged, or may have to arrange, a written contract.
(b) Examine one of these contracts and list:
(i) your personal legal responsibility and duties under the contract—what must you do to complete the contract?
(ii) the legal responsibility and duties of the other party to the contract—what must they do to complete the contract?
(iii) What might be considered a breach of this contract?
If you are not in business, you can base your answers on a standard copy of a written contract that might be used in the business you have chosen to research. (You could obtain a copy of a lease agreement, a loan agreement, an insurance contract, a building contract, etc.)
10 Business premises
Briefly outline how the business will obtain business premises (either own or lease, or work from home). Then answer one of the following questions:
(a) If leasing business premises, what leasing terms did you (or will you) consider as essential points to be negotiated as part of the lease agreement?
(b) If working from home, briefly outline three legal issues to be considered.
(c) If purchasing a business property, briefly outline three legal issues to be considered.
Credit:ivythesis.typepad.com
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