implementation of their code of ethics led to preventable mishaps such as the disasters in Alaska and Texas. Specifically‚ BP ’s defensive approach towards stakeholder management led to lavish compensation for upper level management while creating hazardous working conditions for employees and a burden on all of society in the form of rising oil prices and environmental damage. BP has a poor code of ethics and you can clearly see that they do not follow it like they are supposed to. British Petroleum
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The incorporation of a company is an artificial person which exists as a separate legal personality. This separate personality means that the company is separate and distinct from its participants. The company needs to be treated like “any other independent person” with rights and liabilities‚ even if it is owned and managed by one man. It is capable of holding its own property and may sue or being sued in its own name. The company has perpetual succession which implies that it is able to carry on
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Issue Management: Risk Management Unlike traditional risk management tools‚ which are usually based around tangible and quantifiable issues‚ scenario thinking encourages executives to step into the unknown and imagine a range of possible futures. - Doug Randall and Chris Ertel Managing risk is central to many corporate strategies. Reputations that take decades to build can be ruined in a matter of hours through incidents such as environmental accidents. “The definition
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Destiny‚ it pushed them close. BP plc‚[5][6][7] sometimes referred to by its former name British Petroleum‚ is a British multinational oil and gas company headquartered in London‚ England‚ United Kingdom. It is the fifth-largest energy company by market capitalization‚[8] fifth-largest company in the world measured by 2012 revenues‚ and the sixth largest oil and gas company measured by 2012 production.[9][10] It is one of the six oil and gas "supermajors".[11] BP is vertically integrated and operates
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Introduction Separate legal entity is principle law today‚ but in several cases‚ the principle is ignore and in justice is serve. The courts are willing asked to “lift the corporate veil” and ignore this principle when fairness and justice demand so. A “company” is an organization that is registered under the companies Act 1965. The incorporation of a company is an artificial entity recognized by the law as a legal person that exists independently with rights and liability. This means that a company
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Legal 2 Test 2 Studyguide Sole Proprietorships the simplest form of business organization. Sole proprietorships are the most common form of business organization in the US. Major advantages: * Forming a sole proprietorship is easy and does not cost a lot. * The owner has the right to make all management decisions concerning the business‚ including those involving hiring and firing employees. * The sole proprietor owns all of the business and has the right to receive all of the
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Emerging Markets: BP‚ AAR‚ and TNK-BP Energy Resources AAR‚ BP bury hatchet over TNK-BP Shareholders in joint Russian oil venture TNK-BP confirmed they reached an agreement to settle outstanding issues to avoid arbitration. "BP and AAR‚ joint shareholders in TNK-BP‚ today announced that they have reached a comprehensive agreement to settle all outstanding disputes between them‚ including the current arbitrations brought by each against the other‚" a statement released by BP read. Russia’s
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Legal Forms of Business Mike Martin LAW/531 January 9‚ 2012 Carmina Perez-Fowler Legal Forms of Business Legal forms of business include sole proprietorship‚ partnership‚ limited liability limited partnership‚ limited liability company‚ S corporation‚ franchise‚ and corporation. Each of these legal forms offers distinct benefits to business owners and investors. The decision to incorporate one legal form as opposed to another is often determined by circumstance and underlying factors. Cheeseman
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Legal Aspects of a Business Subjecc: Princples of Business Introduction When starting up a new business it is very important to look at the legal aspects which will influence the company in the future. In this part of the information file there will be the most important legal aspects for running a student company. First there is the selection of business form‚ in which there will be a compairison between the different possible forms. Afterwards a
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as two separate legal entities at common law. Therefore‚ the corporate veil principle in Salomon v Salomon and the veil in corporate groups in cases such as Industrial Equity Ltd v Blackburn and Walker v Wimborne generally apply. According to Peter‚ veil-piercing claims 40.18% succeed of the time. Although only less than half rate of successful claim‚ in the present case‚ as the position on the Finance Pty Ltd‚ we can conclude that‚ Iron Ore Ltd and Finance Pty Ltd are separate legal entity‚ according
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