PESTLE: Legal factors

Question 1

Outline the intellectual property law

Answer 1

Legal rights of individuals & companies in regards to designs

Question 2

Outline the trademark legislation

Answer 2

Covers art or design of a brand (e.g brand logo, labels or product design)

Question 3

Outline the patent law

Answer 3

Covers inventions & gives rights to inventor or patent owner to stop others making, using or selling invention

Question 4

Outline the copyright law

Answer 4

Gives creators of literature, music, media, etc, rights to control usage of material

Question 5

Outline the competition law

Answer 5

Regulates the way which firms compete
e.g
Merger of firms because the danger of monopoly power restrictions on one firm undercutting others

Question 6

Outline 3 pros of the min wage for employers/employees

Answer 6

Employers:
Benefit from more motivated workforce
Higher disposable income so more spent -> competition
Reduces union negotiation

Employees:
More disposable income
Benefit low pay industry
More labour supply

Question 7

Outline the cons of the min wage for employers & employees

Answer 7

Employers:
Wage increase may decrease profits
Cost plus inflation if increase
Possible use of illegal workers

Employees:
Older workers disadvantaged
Loss of job security if wage increase
Production abroad for cheap labour