Legal Factors Affecting Minimum Wage in Business

Minimum Wage

Lowest hourly pay employers can offer employees.

National Minimum Wage

Introduced in April 1999 to increase low pay.

Legal Minimum Wage Review

Annual assessment of minimum wage rates.

Intellectual Property Law

Protects rights for designs and inventions.

Trademark Legislation

Protects brand logos and product designs.

Employment Rights

Legislation ensuring workers' employment conditions.

Written Contract of Employment

Must be provided within two months of hiring.

Data Protection

Regulates use and security of personal data.

Data Protection Officer

Ensures compliance with Data Protection Act.

Anti-discrimination Legislation

Protects against workplace discrimination based on characteristics.

Equality Act 2010

Legislation preventing discrimination in society.

Planning Law

Regulates business location and property expansion.

Patent Law

Protects inventions for a limited duration.

Patent Duration

Typically lasts for 20 years.

Company Law

Regulates operations of limited companies.

Copyright Law

Protects creators' rights over their works.

Health and Safety Law

Ensures safe working environments for employees.

Consumer Protection Laws

Safeguards consumers from unfair business practices.

European Union Laws

Supersede UK laws in certain business areas.

Environmental Law

Regulates business impact on the environment.

Competition Law

Controls market competition and prevents monopolies.

Zero Hour Contracts

Employees paid only for hours worked.

Cost-push Inflation

Rising costs leading to increased prices.

Disposable Income

Income available for spending after necessities.

Motivated Workforce

Employees are more productive when fairly compensated.

Job Security

Stability of employment for workers.

Wage Costs

Total expenses related to employee salaries.