In the UK, anyone who runs a company must comply with the regulations put in place by the government to ensure that the workplace environment is effective and fair. As laws change regularly depending on the government, businesses must respond consistently to the ongoing changes within the legal framework. Just over the last few years there have been numerous legal changes which have had an impact on companies including the adoption of the national minimum wage for under 18-year olds, the recent requirements put in place for companies to cater for the needs of the disabled, tighter protections being put in place for consumers in order to protect them from unscrupulous practices and tighter rules regarding fair competition. National requirements and laws are in a constant state of fluctuation and therefore getting professional legal advice is very important for any company in order to guarantee compliance.
Areas Of Law In Corporate Regulations
Depending on which kind of business is being run, there are a number of areas of law which must be considered when it comes to corporation regulations. These may include:
- Competition Law
- Consumer Rights
- Employment Law
Here we look at some of these elements and how corporate regulations can affect a company of any size or sector.
There are a number of laws which companies must abide by in order to ensure that all employees of the company are fairly treated when it comes to the conditions of their work. Some of the key issues covered by corporation regulations include employee leave, minimum wage, pensions, termination of employment contracts and redundancy. Clearing most, if not all, of these are relevant to employers who will be taking on staff, and any company which does not put compliance law at the forefront of their practice can end up getting embroiled in legal complexities which could damage it financially and, potentially destroy its reputation within the marketplace. Employment law is ever-changing and new legislation is often being put in place, and compliance is essential with the corporate regulations otherwise a company can end up falling foul of the law. Seeking professional legal guidance is essential when it comes to employment law in order to ensure that organisations do not end up being taken to court by employees.
When a company sells services or products, compliance with consumer law and corporate regulations in this field is essential. However, companies also have rights under these laws if they buy services or goods from another business. There are a number of key rights which affect businesses including the Sale of Goods Act and Distance selling regulations both of which could have a major impact on your company whether buying or selling. When selling any type of goods, either in a high street outlet or online, it is essential to comply with corporate regulations which are set out to protect consumers from substandard or not-fit-for-purpose items. As an added complication, when selling online, there are further regulations which must be complied with regarding shipping and delivery and consumer rights regarding refunds and exchanges. Getting legal advice at start-up of any company which intends to sell goods or services will ensure that the business is in full compliance with the consumer rights laws, and seeking guidance in the event of experiencing a problem with a purchase from another business is also vital to ensure a company’s profitability.
Competition law has been put in place to ensure that any business practice which could unfairly reduce customer choice or strangle competition will be prevented. While it is essential to seek legal guidance whenever a company believes is being threatened by another business within the same market, it is also vital to ensure that a company does not behave in any way which could be deemed to be anti-competitive. Taking legal advice to ensure that a company is in alignment with corporate regulations in this area is vital.
How Can We Help?
We can offer legal guidance and expert advice on all aspects of corporate regulations in order to ensure that your company, whether large or small, remains compliant with legislation and up to date with current changes in the law.