The Legal Regulation of Business Is a Necessary Evil in The Australian Business Environment

John Cullen (2013), defines legal regulation of business as the process of controlling the ways in which business operates, so as to ensure fair competition, integrity in the market and sufficient protection of firms. Business regulations have been there for long, and they have aided in controlling the way in which business operations are carried out. Barron (2015), Says that understanding Australian regulatory obligations is essential for any business, as it enables them to operate within the set laws. Despite the legal regulations being there to enhance business operations, they have hindered and affected business operations in some ways. The legal, regulatory environment offers a framework and an enforcement system which provides a common and a fair playground for all businesses regardless of their sizes. 

Legal regulations of businesses in Australia is not a necessary evil in the Australian business environment. This point has been supported by the discussion below about important laws that have assisted in enhancing business operations. Australian Intellectual Property laws are among the legal requirements that have been established to protect intellectual property. Intellectual property refers to any piece of the human intellect with a commercial value (Chary 2012). Over the years, the intellectual property laws have encouraged innovation and creativity in Australia, and also, protects businesses and people that develop intellectual property, thus achieving competitive advantage. Patent, Trademark, trade secret, design protection, registering domain names and copyright protection are some of the laws under intellectual property law that protect businesses and people (Burke, Trayler, & Barron 2015).

Copyright protection laws are intended to protect and encourage businesses that invest time, and resources in creating a new product. Copyright laws in the country have aided in protecting the innovations that companies come up with, and thus, encourage people to engage in innovative ways. Through this law, businesses have been able to benefit from their inventions and enjoy their innovations without fear of other companies stealing their innovations (Brown 2008). Trademark protection laws are intellectual property laws that enable businesses to register their trademarks as their marketing tools so as to enhance their brand recognition…

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