Legal Aspects
§ Legal status
My organisation Musa Mobiles is a sole trader, in other words I am my own boss. I own, operate and manage my company with the assistance of few people. However I do have a various laws which apply to me and running my organisation. First and foremost I can benefit from the profits not being shared between shareholders as I am the main shareholder of the firm, in addition to this the legal paperwork to start up is limited therefore it can be easy. Financial information is also kept personal which means my data is private and competitors cannot scrutinise.
My organisation Musa Mobiles is a sole trader, in other words I am my own boss. I own, operate and manage my company with the assistance of few people. However I do have a various laws which apply to me and running my organisation. First and foremost I can benefit from the profits not being shared between shareholders as I am the main shareholder of the firm, in addition to this the legal paperwork to start up is limited therefore it can be easy. Financial information is also kept personal which means my data is private and competitors cannot scrutinise.
§ Legal Liability
The fact that my company is a Sole trader this means that I will have a main issue of liability of the company. If the company is not doing so well and it goes into bankruptcy and I still have to pay my debts off to my creditors. If I do not manage to then this can lead to my personal belongings being at risk of being seized and taken to pay off debt.
The fact that my company is a Sole trader this means that I will have a main issue of liability of the company. If the company is not doing so well and it goes into bankruptcy and I still have to pay my debts off to my creditors. If I do not manage to then this can lead to my personal belongings being at risk of being seized and taken to pay off debt.
§ Trading terms & conditions
Before my company operates we have to establish the foundation before any sales are accumulated and ensure that customers cannot make any unfair claims. The terms and conditions are imputed to protect my firm MusaMobiles as we sell mobile phones online we have to have the terms and conditions link on the homepage in writing to outline the points which we are liable and unaccountable for. Take for example once a customer purchases off the company we can use their details for a set period of time in order to contact them and tell them about new and existing offers.
Before my company operates we have to establish the foundation before any sales are accumulated and ensure that customers cannot make any unfair claims. The terms and conditions are imputed to protect my firm MusaMobiles as we sell mobile phones online we have to have the terms and conditions link on the homepage in writing to outline the points which we are liable and unaccountable for. Take for example once a customer purchases off the company we can use their details for a set period of time in order to contact them and tell them about new and existing offers.
§ Trading standards
These are government agencies which have been introduced to protect the consumer and to ensure that my company are doing our job correct, the main ones which apply to my firm include Safety standards and ensuring that my goods are safe to use, the mobile phones which I sell are second hand therefore have to go through further testing before I sell them on.
These are government agencies which have been introduced to protect the consumer and to ensure that my company are doing our job correct, the main ones which apply to my firm include Safety standards and ensuring that my goods are safe to use, the mobile phones which I sell are second hand therefore have to go through further testing before I sell them on.
Legal aspects 2
§ Record keeping
the holding of records is key to my organisation; by law the government have ordained businesses to keep some financial data for several years just for the sake of tracking the firm’s inflows and outflows. MusaMobiles have to abide legally such as when a customer purchases a phone from me I have to keep their data according to the Data protection Act, I have to gain the data legally and use it only for reasonable purposes furthermore customer information has to be kept for no longer than necessary. In addition to this MusaMobiles have to ensure that they preserve the VAT data, this is for the government as it shows them whether or not I am paying taxes.
the holding of records is key to my organisation; by law the government have ordained businesses to keep some financial data for several years just for the sake of tracking the firm’s inflows and outflows. MusaMobiles have to abide legally such as when a customer purchases a phone from me I have to keep their data according to the Data protection Act, I have to gain the data legally and use it only for reasonable purposes furthermore customer information has to be kept for no longer than necessary. In addition to this MusaMobiles have to ensure that they preserve the VAT data, this is for the government as it shows them whether or not I am paying taxes.
National/local laws & Insurance
§ Due to my company being newly established there is a number of legal obligations which I have to understand and practice.
- Employers Liability
This where the employees are protected if they sustain any injury whilst at the workplace, if I am protected from this then I can be protected from any unfair claims made by the staff. Although my company is a sole trader firm I may employ some family relatives to operate the website whilst I am unavailable.
This where the employees are protected if they sustain any injury whilst at the workplace, if I am protected from this then I can be protected from any unfair claims made by the staff. Although my company is a sole trader firm I may employ some family relatives to operate the website whilst I am unavailable.
- Product Liability
My company handles second hand mobile phones therefore I have to send the phone to various tests in order to ensure that they are safe to operate and to use by the customers. If they do not meet safety requirements I can get into legal trouble and claims can be made against me.
- Contents Insurance
This is the insurance of the goods which my company sells, in this case mobile phones. This insurance protects me from any damage and theft of the stock. In the recent up rise in crime in London it is important for my company to insure their assets and guard the materia
This is the insurance of the goods which my company sells, in this case mobile phones. This insurance protects me from any damage and theft of the stock. In the recent up rise in crime in London it is important for my company to insure their assets and guard the materia
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