The submission is in the form of a portfolio which includes the following components: 1. A Handbook 2. A Poster 3. A Report All the components in the portfolio should be written in a concise, formal business style as per the aforementioned formatting guidelines. You are required to make use of headings, paragraphs and subsections as appropriate, and all work must be supported with research and referenced using the Harvard referencing system.Unit Learning Outcomes LO1 Explain the nature of the legal system LO2 Illustrate the potential impact of the law on a business LO3 Examine the formation of different types of business organisations LO4 Recommend appropriate legal solutions to resolve areas of disputeVocational scenario You are working as a paralegal at Thomas & Thomas, a reputed law firm that specializes in commercial law and corporate law. As a part of your job role, you have been assigned with preparing a portfolio of documents which addresses different aspects of business law. For this purpose, the areas of requirement is broken in to several tasks. As the first part of your portfolio, you are required to create a handbook that is expected to be distributed to potential clients of Thomas & Thomas, for them to understand the nature of the legal system and its potential impact on the business. This handbook should include; 1. An explanation of the legal system and an evaluation of the effectiveness of the recent reforms and developments on the identified legal systems. A detailed description of sources of law. An explanation of the role of government in law-making and how statutory and common law is applied in the justice courts with appropriate examples. Judgement/s regarding the role of government in law-making and how statutory and common law is applied in the justice courts considering the strengths and weaknesses, arguments for and against with the support of current research. A critical reflection of the legal system and law using examples to demonstrate strengths and weaknesses. Analysis of the potential implications of the law on a business. For example, copyright law, contract law, employment law etc. As the second part of your portfolio, you are required to develop a poster. This poster is expected to be displayed at prominent place at Thomas & Thomas to provide an insight to the formation of different types of business grganisations, for potential clients. Therefore the poster should include the following: 1. An introduction to different types and classification of business grganisations in both the public and private sectors, providing specific examples to illustrate different legal structures. A review of the advantages and disadvantages of different legal structures An evaluation of how different grganisations are managed and funded in both public and private sectors e.g. limited companies, social enterprises, corporations, and cooperatives. As the final part of the portfolio, you are required to develop a report that will be provided to the new interns at Thomas & Thomas to understand how to recommend appropriate legal solutions that can be considered to resolve areas of dispute. For this, you are required to; 1. Provide examples/scenarios for different business problems. Apply and justify legal solutions for each of the presented example/scenario. 3 Choose from two or three business problems you have provided above, compare and contrast the different sources of legal advice. 3. Evaluate the effectiveness of these legal solutions in detail