Canadian honey producer Bee Maid Honey has been in business since 1954. They are a Western Canadian beekeeping cooperative that produces premium honey and is owned by more than 300 beekeepers. Liquid honey, creamed honey, and honeycomb are just a few of the many honey items that Bee Maid Honey offers. Additionally, they sell specialty honey items like buckwheat honey and organic honey. As a participant in the True Source Honey certification program, which guarantees that their honey is ethically sourced and can be traced back to the beekeeper, Bee Maid Honey is dedicated to ethical and sustainable beekeeping practices (Experts, 2023).

Fictious Company:

Nectar Nook

Nectar Nook makes artisanal, small-batch honey products. Our honey comes from small-scale beekeepers who put the health and welfare of their hives, the environment, and their bees first. We think that content bees and a dedication to environmentally friendly beekeeping methods are the foundations of outstanding honey.

We provide a variety of honey products at Nectar Nook, including traditional raw honey and infused honey with interesting flavours like cardamom and ginger. For individuals looking to start keeping their own hives, we also provide beekeeping gear, honeycomb, and skincare items made with honey.

The brand's organic components immediately became well-liked by consumers who were health-conscious, which contributed to its success in organic merchants. Customers trusted the company because of its use of premium organic products and open sourcing procedures, and they recognised the company's dedication to sustainability.

Memorandum:

We are thrilled to discuss our ambitions to grow our company by looking into new markets, including potential abroad in the US and other countries. We will investigate the possibility of online sales channels, such as well-known e-commerce sites like Amazon and other regional platforms, as part of our expansion strategy.

We are devoted to handling these difficulties with a proactive and responsible mindset because we are aware that entering new markets entails some risks. To ensure that we abide by all the rules and regulations in the nations in which we operate, our team will closely collaborate with legal and compliance specialists.

As a corporation, we are dedicated to honouring our principles and sustaining the highest standards of moral conduct in all of our activities. We are eager to start this new phase of our adventure and anticipate the opportunities that are in store for us.

Areas of General Legal Risk can be experienced by the company

1. Intellectual property: The company must ensure that its products and brand are protected from intellectual property infringement. This can include trademark and copyright infringement, as well as patent infringement and any violation of a company's intellectual property rights may result in exorbitant litigation fees. Company should take precautions to safeguard their intellectual property, by securing patents and trademarks, and keeping an eye out for possible infringement. Companies should be cognizant of other people's intellectual property rights and refrain from violating them.

2. Employment: The company must ensure that it follows all applicable employment laws, including those related to wages, hours, and working conditions. Companies' treatment of employees is governed by a number of employment laws and regulations. These laws protect against things like wrongful termination, discrimination, harassment, and minimum wage. A company's reputation may be damaged and costly legal lawsuits may result from breaking these regulations.

3. Tort Liability: A consumer has the right to sue a business for tort liability if their use of a company's product causes them injury. The customer may claim that the business manufactured or sold the goods negligently, or that it violated an implied or written warranty on the product's effectiveness or safety(LLP, 2019).

4. Product Liability: The company must ensure that its products are safe and meet any applicable standards or regulations. Companies must take precautions to ensure that their products are safe for their intended use and adhere to any standards or regulations that may be relevant in order to reduce the risk of product liability claims. This entails carrying out exhaustive product testing and quality control procedures, offering precise and understandable product labelling and warnings, and responding speedily to any reported flaws or safety issues.

5. Environmental Compliance: The company must ensure that its production processes comply with all applicable environmental laws and regulations. Companies should take precautions to ensure that their manufacturing processes comply with all applicable environmental laws and regulations in order to reduce the risk of environmental compliance concerns. This include performing routine environmental audits, putting environmental management systems in place, and educating staff members on how to comply with environmental regulations.

6. Regulatory Compliance: The company must ensure that its products comply with all applicable regulations and standards. To guard against potential regulatory liabilities, businesses should have adequate insurance coverage. This could involve having product liability insurance, which can cover losses brought on by regulatory infractions.

7. Taxation: The company must ensure that it is in compliance with all applicable tax laws and regulations. This covers rules and laws governing sales taxes, payroll taxes, income taxes, and other taxes that might be relevant to the operations of the company.

8. Contractual Agreements: The company must ensure that it is in compliance with all applicable contractual agreements, such as those related to distribution, sales, and marketing. Companies should thoroughly study, comprehend, and make sure they are in compliance with all applicable contractual duties with their contracts in order to reduce the risk of contractual difficulties. This could entail getting legal counsel as needed, keeping thorough logs of all transactions pertaining to the contract, and successfully coordinating with other contract parties(Lawyers, n.d.).

"Present a risk management plan for their fictional company. The presentation will address at least 6 areas of risk and propose an approach for the company to address the risk through contracts. The presentation will be a summary of the written work in Part 1 and will require the group to record a virtual presentation."