involved Limited liability company (many parties involved and have equal rights of management What are some of the basic issues that you will be concerned when setting up on enterprise? Step 1: need to decide the business structure Step 2: Finance‚ decide how to finance the business Company (demand securities‚ mortgage) Sole trader (individual) Partnership (all the partners involved) Limited liability company (can issue shares- allow outsiders to contribute to the business with limited liability
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depends on the limited liability company and if it allows it. What your competitor does has no affect on your lease. It would be nice to help recover some money that they have invested in the lease and to recover some of the loss‚ if it is aloud‚ hopefully the commercial property limited liability company allows it‚ because that would be really nice to recover some cost and not be completely in the whole. You would have to hope that a commercial property limited liability company would work with
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WANT: Want refers to those goods and services which are not essential for our living but we require them for a better living. They make our life easy and enjoyable. Example: 1. Mobile 2. Computer 3. Electricity 4. Television etc. Need is limited but want is unlimited. Need can’t be created; it already exists but want may be created. Definitions of Business • We all are involved in business in some-way or other. • Business is something with which we live. • Business needs people
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between a public company and a private company are explained in the following manner: 1. Minimum number of members The minimum number of person required to form a public company is seven‚ whereas in a private company their number is only two. 2. Maximum number of members There is no limit on the maximum number of member of a public company‚ but a private company cannot have more than fifty members excluding past and present employees. 3. Commencement of Business A private company can commence its
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Legal Entity has stood the test of time because it aims at giving the company a certain practical utility. The separate personality of a company as distinct from its shareholders and this was established by the House of Lords in Salomon v Salomon & Co [1897]. This led to the veil of incorporation; that a registered company is a legal person separate from its members . By separating the management from the investment‚ a company enables the investing public to have a share in the profits without being
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holidays 1 The Economy General Basic resources Principal industries Banks Other financial institutions Stock exchange 4 Investment Regulations and Incentives General Regulations governing foreign investment Business incentives 7 Company Law General Business entities Legal structures allowed to foreign investors 9 (i) Dr. M. Al Amri &Co. Page Establishing a Business Presence Licensing and registration Sponsorship‚ agencies‚ government contracts‚ branch and representative
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June 13‚ 2011 Business Entities‚ Laws‚ and Regulations Paper This paper will examine two business scenarios and determine which business entity is the best choice for each business after taking in to consideration control‚ taxation‚ and liability issues. In addition laws and regulations each business must consider in starting the business will be identified along with the risks that each business must protect itself against. Next this paper will examine a construction scenario and identify
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and/or operating decisions” and Related Party transaction means “a transfer of resources or obligations between related parties‚ regardless of whether or not a price is charged.” Under AS-18‚ following entities are treated as Related Party: • Holding Companies‚ subsidiaries and fellow subsidiaries • Associates and joint ventures • Individuals (incl. their relatives) – having
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b. Greatest freedom from regulation and paperwork. c. Owner is in direct control‚ with no interference from other owners. d. Taxes may be lower than for regular corporations. The disadvantages of a sole proprietorship include: a. Unlimited liability. The proprietor is responsible for full amount of business debts no matter how incurred‚ which means that his personal property may be taken to cover debts of the business. This of course is a significant disadvantage. b. Unstable business life
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joint-stock company‚ limited liability company‚ partnership‚ and sole proprietorship. These forms of a business organization were started to help business owners with valuable support to make them profitable and successful. The first form of a business organization is a joint-stock company. Joint-stock companies are comprised of entrepreneurs that will raise the company’s wealth by selling stock shares to investors. There are investors that like to invest their money into numerous companies. They do
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