What is the impact of company law on business?
What is the impact of company law on business? Assistant at Law Assistant at Parklin Law The point of the law is to have a set of rules that everyone can abide by, in order to prevent people from being taken advantage of. In business, this is particularly important: you have people who are invested in an enterprise and who need to protect their interests. There are many legal aspects that affect businesses, from the paperwork you must fill out every time you start your business to complicated tax codes that determine how much money you get to keep after all expenses are paid. To better understand the role of company law in business, it is useful to understand what happens when there is no such law: those with more power and money at their disposal can take advantage of those that do not have those resources. In other words, those with fewer resources would be exploited by someone else for their own gain. For example, a factory owner could overwork his employees for long hours...