hello everybody and welcome to our first lesson for the subject of business law and practice for the sqe now in this lesson we are going to take a very brief introduction to the subject itself talk about the scope of the content that we're going to be covering the order in which we are covering that content and looking at what the specification requires for you in relation to how much you need to know about the content and the kind of application of that content that needs to be uh that needs to be shown in your exams essentially so you should really think of this as a roadmap lesson because the next few weeks and months are going to be dedicated to weekly lessons on the subject of business law and practice specifically relating to the substantive content itself so that's what we're going to do over the next few weeks and months probably more like months um and this lesson should really just provide a nice roadmap for you to have an idea of where we're going with the new with the lessons and where we will be going after we've done one series of lessons and what topics we'll be covering afterwards for example and just give you a general holistic understanding of what business law and practice is actually about and the kind of things that you need to know for it essentially we're going to examine the sqe specification to see the kind of content that we're going to be looking at so the business law and practice module will Encompass a number of what I've written here as commercially related legal Concepts and that these are obviously crucial for those who are looking to work in any kind of business environment so whether that be acting as a solicitor for a law firm a commercial law firm or any other kind of operations you know representing business in legal disputes and legal issues all of these things can and will be very very important and for for you to understand these things business law and practice is a very important module for you so the kind of topics that you look at range from things relating to company law to things relating to tax law to issues on the idea of insolvency law so these are all distinct topics in and of themselves you'll talk about the ways in which we do legal operations of not just companies as a business entity but also other kinds of business entities as well like sole Trader ships and also the idea of Partnerships now the core areas of study okay according to the uh the sqe specification there are five of them there are five main core areas of study for business law and practice the first relates to the idea of starting a new business through the vehicle of a company partnership LLP or as a sole Trader so this obviously relates to the beginnings of business operations and the legal implications that I had in the establishment and operation of a business in this way the starting of a new business and whether or not that be through the founding of a company the establishment of a partnership an LLP or even a sole proprietorship or a sole Trader the second core module relates to the management of a business as well as company decision making to ensure that they have complied with the statutory regulations and also any other legal requirements therein so this relates more to the idea of the day-to-day management and running of a business and the kind of decisions that can cannot be made to ensure compliance with legal requirements part three relates to the interests rights obligations and powers of the stakeholders in a business so those who have some kind of stake or some kind of interest in the operation of that business itself part 4 relates to the financing of a business uh we'll talk about all the kind of corporate finance things uh things relating to the types of Securities the distinction between equity and debt within a business operation the distribution of shares to shareholders and the raising of capital all of these different things are all Corporate Finance related areas of study and then finally you have to talk about the concept of Taxation so taxation of a business and Taxation on the stakeholders of a business as well and we'll talk about the different types of Taxation that that entails in this next slide and then finally I didn't realize we have six not five finally the uh the sixth major um uh area of topic it makes sense because this relates to the end of a business so we've been talking at the start about the starting of a business it the middle uh a few uh middle three or four I've been talking about the process of running a business and the operations they're in and then part six talks about the termination of a business so either determination of a solvent business so a business that just wants to end in terms of operations or a determination of a business that reaches uh insolvency which relates to corporate insolvency law of the winding up process the idea of corporate rescue the idea of administration for example and then finally how these ideas also relate to the individual person so the idea of personal bankruptcy as well so in analysis of these six major topics um this course will begin with some of the most foundational principles of business law and Company regulation so talking for example about the delineation that is had between legal personality and limited liability so the distinction between the personality of a company and the personality of an individual who may run a company this also ties into the idea of the different types of business structures that you can actually run so whether you're a troll Trader whether you're a partnership an LLP or plc the various requirements for filing documents at companies house in the establishment of a business and in the day-to-day running of a business so what kind of things do you need to do each year for the filing requirements at company's house so for example accounting requirements that are that are necessary for each Financial year as well as confirmation statements in terms of the operation and running operations of a business as well next we'll look into the idea of corporate finance so the idea of raising Financial capital for a particular business operation the distinction that has to be made between types of security so debt Securities like bonds and Equity Securities like shares types of security as well so bonds and shares are examples of different types of security the distribution of profits and gains in the course of business operations as well as certain Financial Accounting requirements for businesses in the raising and the operation of corporate finance as well the third section is going to look at the elements of running a business and Company operations so we're going to talk about the concept of corporate governance and the kind of law that operates within corporate governance the rights and duties of directors as well as the rights and duties of shareholders in the regulation of companies these specific legal rules related to Partnerships and then the study of insolvency law from both the perspective of the personal I.E personal bankruptcy and the perspective of the company I.E corporate insolvency and then finally what we'll do is examine a number of key legal issues and principles related to taxation now the specific attention will be had on the following types of Taxation so income tax corporation tax value added tax vat capital gains tax and inheritance tax these are the main areas of Taxation that a company may or may not have some kind of interest in having an understanding of some more important than others as you can imagine income and corporation tax are very important value-added tax is obviously very important for companies that reach over a certain threshold of profit and then things related to capital gains and inheritance tax are also important for those individuals who are running business operations as well