308 - Legal factors

Question 1

Employment legislation

Answer 1

Employment rights, holidays, working weeks, terms and conditions. Anti discrimination legislation, age, racial, beliefs based, sex discrimination

Question 2

Consumer protection legislation

Answer 2

A contract is formed between the consumer, the retailer, and the producer of the goods/services. Legislation clarifies the nature of the contract and how the business is supposed to behave.

Question 3

Competition policy

Answer 3

The law aims to promote healthy competition, it bans anticompetitive agreements between firms such as agreements to fix prices up or to carve markets

Question 4

CMA

Answer 4

Competition and Markets Authority. Influences the regulation of Cartels/collusion, education of businesses so that they comply with relevant competition act, consumer bodies can make ‘super complaints’ to the CMA. UK competition policy is regulated by the CMA. They must be notified of mergers and can investigate them

Question 6

Health and Safety legislation

Answer 6

Health and Safety at Work Act 1974, the Management of Health and Safety at Work Regulations 1999. MHSWR1999 places a duty on employers to assess and manage risk

Question 7

Data protection

Answer 7

The Data Protection Act 2018 is the UK’s implementation of the General Data Protection Regulation (GDPR), it requires consent, the person knowing what data is held about them, makes sure information is properly protected, and allows national authorities to impose fines on companies breaching it

Question 8

Intellectual property

Answer 8

Refers to anything that has been created, like designs, inventions, brand names, and literary works. The author has sole authority over the distribution of their work

Question 9

Intellectual property theft

Answer 9

When someone else’s intellectual authority is used without their permission

Question 10

Minimum wage

Answer 10

The law to introduce minimums age was passed in 1998 by the Labour Government, and came into force in 1999

Question 12

Company law

Answer 12

When a business is incorporated, it exists as a separate legal entity, failure to comply with company law can lead to company directors being fined, struck off, or even to the compulsory liquidation of the company

Question 13

External stakeholders

Answer 13

Suppliers, Society, Government, Creditors, Shareholders, Customers.

Question 14

Internal stakeholders

Answer 14

Employees, Managers, Owners