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Essay on ownership of business
Business structure example
Business structure example
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The ownership of business
Private Business
Sole Trader
This is a person who decides to set up the business on her/his behalf.
There mite be other people who work for the owner but the business to
be quite small, if, quite possibly, very profitable. An example is a
Chinese Takeaway or a Fish and chip shop.
Partnership
From 2 -20 people who get together to run a business. They will
probably employ other people to work for them. But ownership belongs
to the partners. A firm of solicitors ,architects or doctors is a good
example.
Private Limited Company ( PLC )
These companies may start as family running affairs and develop. The
reference to 'limited' means the extent to which owners are liable for
the financial affairs of the company if they owe money or crease
trading and have to pay off debts. If 1000 shares are available for
issues and Henry Smith has Three of them he is responsible for three
thousandths, 0.3%, of the debts the company owes. As a sole trader it
would have been 100% and as partner receives which makes the
proportion of liability for debts.
Public Limited companies
PLC or plc follows the trading name, as in Lloyds TSB plc. These tend
to be large organization which has shares in vast numbers. These
shares have value which quoted on the Stock Exchange.
Franchise
These are business run using the trading name of a much larger
company. For instance Body shop and Burger King
Public enterprises
Central government ...
Partnership – “A legal entity formed by two or more co-owners to operate a business for profit.” (Longenecker, Petty, Palich, Hoy, Pg. 202) In a partnership, the advantage for the owners is the capability to reduce the workload and the financial burden, especially if each partner has management skills that enhances the business. The disadvantages of a partnership such as personal conflicts and leadership expectations, therefore this organizational form should only be chosen once all other options have been considered.
There is uncertainty surrounding the law in regards to the ownership of property and proprietary estoppel. This paper will deal with these issues by analysing two cases that involve these questions. It will first address Jack’s case and whether the two objects in question are chattels or fixtures; then, it will examine a Laurence’s case and whether he can rely on proprietary estoppel or not. By dealing with the two cases, this paper will clarify questions of what constitutes a chattel or fixture, and in what situations proprietary estoppel may apply.
What major technology change has had the greatest impact on the quality of your life?
According to Corporation Act 2001 s124(1), it illustrates that ‘’A company has the legal capacity and powers of an individual both in and outside the jurisdiction” . As it were, company as a legal individual must be freely with all its capital contribution shall embrace liability for its legal actions and obligations of the company’s shareholders is limited to its investment to the company. This ‘separate legal entity’ principle was established in the case of Salomon v Salomon & Co Ltd [1987] as company was held to have conducted the business as a legal person and separate from its members. It demonstrated that the debt of company is belonged to the company but not to the shareholders. Shareholders have only right to participate in managing but not in sharing the company property. Besides ,the Macaura v Northern Assurance Co Ltd [1925] demonstrates that the distinction between the shareholders and company assets. It means that even Mr Macaura owned almost all the shares in the company, he had no insurable interest in the company’s asset. The other recent case is the Lee v Lee’s Air Farming Ltd [1961] which illustrates that the distinct legal entities between employee ad director allows Mr.Lee function in dual capacities. It resulted that the corporation can contract with the controlling member of the corporation.
If you think about it, it’s almost impossible to measure the force that it takes to dribble a basketball, unless you have the right tools. Let’s just think about the basic physics that you should know. In order to dribble a basketball you need to apply enough force for the ball to go from your hand to the floor and back up to your hand. When the ball is in your hand it is holding potential energy. Potential energy is the energy that is about to be transferred into kinetic energy, which is when the energy is in use. The ball is in kinetic energy after it leaves your hand and starts to fall. So the force of gravity has to be less than the force of the bounce to keep the dribbling going.
Forms of Private Sector ownership are: Sole Trader, Partnership, Private Limited Company, Public Limited Company, Franchisee, and Co-operatives. Sole Trader These are... ... middle of paper ... ...ility. This is why many small businesses that have only a small number of partners will change their business ownership and become a private limited company. Background Information When Mac and Dick McDonald first ran their restaurant in San Bernardinosuccessfully for 21 Years it was a form of partnership, in which they made high profits which they were happy with.
There are many aspects to the game of basketball and physics can be applied to all of them. Although to be good at basketball it is not necessary to play it from a physics point of view. Basketball players become good by developing muscle memory for the actions that must be performed in the game of basketball from years of practice. Nevertheless knowing some of the physics in the game of basketball can help a good player be a better player. In this paper I will cover the three most important aspects of the game, shooting, dribbling and passing.
Passing is perhaps one of the most important components of the sport. A game would be impossible without the assistance of passing and team work. To successfully carryout a pass, many factors have to be taken into account. In order to begin a pass, first a player must exert a force on the basketball. Once the ball leaves the hands of the player, it becomes a projectile. A projectile is acted upon by two independent forces: the x and y components. The x component is the force exerted on the ball by the player while the y component is pulled by the force of gravity, -9.8m/s². As a result of the independent components, the ball will travel in a downward parabolic path, or trajectory. Since the ball travels a downward path, the player throws the ball towards a target located a little higher than where the player wishes the ball would go in order to compensate for the downward path. Another factor that affects the successfulnes...
A major challenge of doing business internationally is to adapt effectively to different cultures. Steve Kafka, an American of Czech origin and a franchiser for Chicago Style Pizza has decided to expand his business to Czech Republic. This is a risky decision and Steve anticipates he will face obstacles as he goes about setting up the new pizza outlet at this new location, Prague.
Owning Your Own Business There are many advantages and disadvantages when owning your own business. When you own your own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages. Five advantages to owning your own business are: 1) The owner receives all profits, meaning that all earnings go to the sole proprietor, or the owner, and isn’t shared with anyone else.
The world of business has undergone radical and dramatic changes in the last decade changes that present extraordinary challenges for the contemporary manager. A manager is an organizational member who is responsible for planning, organizing, leading, and controlling the activities of the organization so that the goals can be achieved. According to a widely referenced study by Henry Mintzberg, managers serve three primary roles: interpersonal, informational, and decision-making. Management is process of administrating and coordinating resources effectively and efficiently in an effort to achieve the goals of the organization.
The most fundamental skill in soccer is dribbling. Dribbling is one method a player uses to move the soccer ball around the field. The goal is to dribble as quickly and efficiently as possible, while still
...layers to try out and utilize a variety of exercises in creating a routine that works. It’s a good idea to start with a half-hour session, in which five minutes of light training is alternated with five minutes of intense training. Intense training can include simple court-length sprints, or a variety of other drills
Some say defence is the most important part of the game because it's what wins you the game. The first thing you need to know about defence is defensive slides. You have to be low so you can move faster and your arms out in the passing lane. With defensive slides you have to slide along with the person you are guarding while being close enough to create pressure on the ball handler, but not too close to where they can just go right past you. If you are not guarding the ball you must always have your eyes on the ball and your person. Man defence isn't the only type of defence played. Other essential defences include; zone defences, and trap defences. A zone defence is where you guard a certain zone instead of a man. Equally as important is trap defences where you emphasize pressure on the other team, with a goal to trap the ball handler and force a