Business Law : Business Regulation

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Business Law : Business Regulation

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Business Law : Business Regulation

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Question:
Describe about the Business Law for Business Regulation.

Answer:

Literature on the relevant Business law and Due Diligence that are perceived to be applicable to the case project/organization
Business law comprises of laws involved with different business organizations and institutions, like, agency & employment law, law based on contracts, copyright, intellectual property etc. ALDI is business organization that works in the field of retailing and thus in its case the main laws will be based on the selling and buying of the goods and services that it offers to its customers (Barker, 2005). Some of the basic laws that ALDI needs to follow being a retailer are:
Consumer Guarantees Act
As per the Consumer Guarantees Act if a consumer buys an item or avails a service from a store or business organization and that particular good or service is unable to deliver the promised benefit then the business organization or store needs to provide the proper remedy or solution for it (Davenport and Parker, 2011).
Fair Trading Act
According to the Fair Trading Act (1986) a business organization offering a particular product to its customers needs to give hones details about it and if by any means the customers get misled about it then the company would be breaching the Fair Trading Act (Watson, Gleeson and Higgins, 2013).
Weights and Measures Act
As per the Weights and Measures Act (1987) the business organization should not give less amount of good to the customers than what they paid for then the business organization would be legally liable. Therefore a customer has the right of checking the weight and measurement of the goods bought by them (Gibson and Fraser, 2005).
Due diligence can be defined as the level and intensity of care, determination, judgment and prudence that is expected of an individual or organization under a particular situation. In case of a business organization due diligence is the process of conducting a detailed investigation of the organization in order to ensure that each and everything is being operated in the best way possible (Gibson and Fraser, 2007). Due Diligence in a company refers to the management and heads of the company being fully aware of the various obligations of the company including the debts, leases, agreements, employment contracts etc.
Review industry best practice models where available
Aldi provides high quality grocery products to their products. The most relevant legal areas for Aldi are intellectual property laws, Australia business and environment laws and Australian export and import laws. Due diligence is applicable in the business situations where there is purchase and sale of products and services and transactions involving partnerships, merger and acquisition of cooperate entities. The Australian laws and regulations should be followed by Aldi in order to operate its business appropriately and efficiently. Intellectual property law of Australia protects businesses and encourages innovation in order to improve competitive advantage in the market. It includes trademarks, patents, secret formulae and processes (Gray, 2009). Australian patent ensures protection and legal rights to impede third parties from using, selling and manufacturing an invention. Aldi should follow these laws and regulations. The company should register the trade mark as the marketing tool. Copyright law in Australia is designed to protect and encourage organizations that invest in their talent and time in the creation of innovative products. The statutory framework registers the companies of Australian for designing purpose. The design application contains design in relation to multiple designs or many products. The corporate governance and board of directors should follow all these laws in order to operate their business activities appropriately. Australian contract law provides protection and legal rights to both the parties in the contract (Lucadou-Wells and Bourke, 2015). The terms and conditions are determined and evaluated in order to provide protection to the companies who entered into the contract. Australian government, territory and state government legislation protects community, environment and consumers and also promoting competition, fair trading. The laws need to be followed By Aldi in order to increase their trade practices. The competition laws ensure fair trading for consumers and businesses. The Australian Consumer Law provides regulations on product safety, consumer rights, contract terms, penalties and agreements. The national standards and statutory frameworks are developed to regulate information standards and product safety. It ensures that harmful goods are not marketed in the country (Austrade.gov.au, 2016). The company should also manufacture goods as per the laws and regulations. Australian Government has implemented rules and regulations to regulate the operations of companies. Free trade agreements encourage free trade practices with other countries. The policies, laws and regulations impose vital impact on the operations of an organization. Aldi should follow the laws and regulations of Australian government.

Develop a conceptual model of the key factors or requirements under the law to consider when developing your Project Plan
Model help to provide a clear and precise idea about the key business laws which help to provide a framework for the company to determine company key facts and figures regarding overall growth and any legal obligation related with the violation of the act. On the basis of the several key facts and figures related with the law helps to throw light on the company core perspective thus eventually help the company two determine the overall growth factors. Developing a core conceptual model helps to determine the key factors under such law circumstantial which help to determine the overall key facts and figures (Shaw, 2003). Research method is considered help to provide a better framework to determine the key information related to the company key laws related to the overall legal obligation. The data collected from the conceptual model is either from primary and secondary source. The primary and secondary source of data is considered to play a vital role in determining the key factors under the law and also considered to be vital for developing the project plan which is related with the ALDI organization. Access to and utilization of the Site is given entirely subject to these terms of utilization. These terms and conditions (the “Site Terms”) constitute an official understanding amongst you and ALDI Stores (Tomasic, 2001). Kindly read these Website Terms painstakingly before utilizing the Site. Your dealings with ALDI Stores and your utilization of the Site is likewise represented by the ALDI Stores Privacy Policy, which is consolidated into and frames part of these Website Terms. You should not utilize the Site in the event that you don’t consent to be bound by these Website Terms.
But as generally explicitly expressed on the Site and to the full degree allowed by law, the Site and all data contained inside it in regards to or identifying with ALDI Stores and its related elements, items and administrations is given “as may be” and on an “as accessible” premise with no representation or support made and without guarantee of any sort, whether communicated or suggested (Vickery and Pendleton, 2006). Elements of items portrayed or delineated on the Site (counting, without restriction, items produced or supplied through our business accomplices or suppliers which are shown on the Site and their qualities) are estimated just and subject to change without notification. To the full degree allowed by law, a reference to items on the Site is not and does not infer a guarantee, representation or insurance that the items will be accessible whenever in your specific territory.
Summary
In case of ALDI, the due diligence is involved in the transaction of business involving the sale of goods and the purchase of various products and services. This would include the sales contract, employment contract, rental contract, list of inventory, customer list and list of equipment. Managing all these elements in the proper manner would lead to the fulfillment of due diligence. These help in backing up the financial claims of both the buyer and the seller. Due diligence helps the heads of a company to take proper and concrete decision when the company encounters major purchasing decisions. It also helps in keeping track of the employees and the customers and understanding their needs and requirements at the same time. This aids the whole development of the company as both the employees and the customers get satisfied with the way in which the company handles each and every aspect of keeping the company working in a proper and harmonious manner.

References
Austrade.gov.au. (2016). Understanding Australian business regulation – Austrade. [online] Available at: https://www.austrade.gov.au/International/Invest/Guide-to-investing/Running-a-business/Understanding-Australian-business-regulation [Accessed 21 Aug. 2016].
Barker, D. (2005). Essential Australian law. Sydney, N.S.W.: Cavendish.
Davenport, S. and Parker, D. (2011). Business and law in Australia. Pyrmont, N.S.W.: Thomson Reuters (Professional) Australia.
Gibson, A. and Fraser, D. (2005). Business law. Frenchs Forest, N.S.W.: Prentice Hall.
Gibson, A. and Fraser, D. (2007). Business law. Frenchs Forest, N.S.W.: Pearson/Prentice Hall.
Gray, A. (2009). State-Based Business Licensing in Australia: The Constitution, Economics and International Perspectives.Deakin Law Review, 14(2), p.165.
Lucadou-Wells, R. and Bourke, J. (2015). Teaching Business Law: Some Ethical Dimensions from Australia. Procedia – Social and Behavioral Sciences, 209, pp.102-108.
Mann, T. (2009). Australian law dictionary. South Melbourne, Vic.: Oxford University Press.
Shaw, M. (2003). International law. Cambridge, U.K.: Cambridge University Press.
Tomasic, R. (2001). Governance and the evaluation of corporate law and regulation in australia. Corporate Governance: The international journal of business in society, 1(3), pp.24-32.
Vickery, R. and Pendleton, W. (2006). Australian business law. Frenchs Forest, N.S.W.: Prentice Hall/Pearson Education Australia.
Watson, J., Gleeson, J. and Higgins, R. (2013). Historical foundations of Australian law. Annandale, N.S.W.: Federation Press.

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