PART A Sole Proprietorship- Sole proprietorships are the most common form of business in today’s world. These are your mom and pop shops built from the ground up and owned by one person. Sole proprietorships are unincorporated so any contract or legal agreement the company agrees to‚ it is actually the owner that is entering into the contract. Being a sole proprietor has obvious advantages in that it is very easy to create a sole proprietorship and and all profits made by the business belong to
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development in businesses is now turning to be an important factor and is also a new idea for many business organizations. This essay will outline about my company ’Zia Inc.’. The main objective of the business is to recycle the plastic bottles. The legal structure of the company will be described along the given outlines‚ we will be looking at the organizational structure of the company‚ centralized and decentralized operations. This essay will describe that Zia Inc. is as private limited company‚
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INTRODUCTION Nestle It is the world’s number one food company. The world leader in soluble coffee‚ mineral water‚ dairy and infant nutrition‚ and proactive in any other categories. The best brands of the organisation comprised of: Nescafe‚ Perrier‚ Nestle and Buitoni amidst others. To put in some numbers: The net benefit of the company was $3.4 billion and an annual sales of $48.2 billion. The global market share of the company in foods and beverages industry is 1.4% and processes and branded
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Business Structures Ruth Whitehead FIN/571 February 23‚ 2015 Oscar Lewis Business Structures Three types of business structures exist; Partnership‚ Sole Proprietorship‚ and Corporation. Essential deliberations are dimensions of the commercial‚ the method in which revenue from the trade is a tax‚ the lawful obligation of the proprietors‚ and the capability to obtain monies to fund the business. Few businesses start-up as a large capacity organization. All business structures have advantages and
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Student´s Name: Michael Wanderley Mallmann Spanholi Business Environment LO1. Understand the organizational purposes of businesses 1.1 Identify the purposes of different types of organisation The UK legislation allows different types of legal structures to do business in its area. In the private sector‚ the following forms of companies can be seen: Sole trader is a business owned by an individual who is self-employed‚ but staff can be hired on either a full-time or a part-time basis if
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QUESTION 1 a. Define a promoter of a company. Explain and illustrate with decided cases his legal position in relation to a company. Though the certificate of incorporation is conclusive for purposes of incorporation‚ using decided cases‚ outline circumstances under which it could be withdrawn.(10marks) ANSWER Definition; A promoter is one who undertakes to form a company with reference to a given project and to set it going and who takes the necessary step to accomplish that purpose - A promoter
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Business Entities‚ Laws‚ and Regulations Paper BUS/415 March 5‚ 2012 Beth Shankle-Anderson There are different scenarios with three different forms of entities that require taking control‚ taxation‚ and possible liability issues into account. These considerations will not only serve to ensure compliance is met but also so that each establishment is protected. In the first scenario Lou and Jose plan to open a restaurant/sports bar‚ the issue is that they have not accumulated of the money‚
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outlets owned by independent operators. 5. What can happen to a business owner who has personal -Liability for their company? (0.5 points) can be held personally accountable for the financial debts and illegal actions of the company. 6. What is an entity? (0.5 points) -A being‚ such as a person or company. Lesson 3 (3.0 points) 1. Why does doing research help a company succeed? (0.5 points) -A strong understanding of the market and the competition is important to a company’s success. 2. What
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Firstly‚ one of the main advantages of a Private Limited Company over a sole trader is that‚ members may enjoy the availability of Limited Liability‚ hence the business is incorporated (i.e. the business has a separate identity from the owner).Therefore‚ liability for payment of debts stops at the Company‚ and owners and shareholders are not personally liable for any other debts than that of which they have purchased. On the other hand‚ a sole trader’s liability status is unlimited and there is no
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Abstract This paper will evaluate the advantages or disadvantages of each business type with the business issues facing. It will discuss the management decision to make concerning which legal form of business that will facilitate my firm to succeed. Key words: Management decision‚ advantages‚ disadvantages‚ legal form of business. My business Type Decision for a Successful Company My invention of a new home appliance was a great idea. In fact‚ it is easier and safer to use than the old appliance
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