Corporation‚ partnership‚ or sole proprietorship? Now that you have decided to start your own business‚ you will have to determine what business structure or form of organization suits your needs. The structure of your business will depend on whether you want to run your business yourself or with a partner or associates. There are four types of business structures: sole proprietorships‚ partnerships‚ corporations and cooperatives. On this page: 1. 1. Sole proprietorship 2. 2. Partnerships
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Introduction A Central Industrial Finance corporation was set up under the industrial Finance corporations Act‚ 1948 in order to provide medium and long term credit to industrial undertakings which fall outside normal activities of commercial banks. The State governments expressed their desire that similar corporations be set up in states to supplement the work of the Industrial financial corporation. State governments also expressed that the State corporations be established under a special statue
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Individualism Mechanism in Modern Corporations Without guidance from morality‚ it is naturally that corporations move towards individualism to some extent. In modern corporations‚ the imbalances of enterprise ethics aggravate the phenomenon of individualism‚ which is also an extreme reaction. Bakan describes the corporation as “the pathological pursuit of profit and power”. A value of “the profit is the only rule” causes nothing but negative effects on corporations. Only under a principle and moral
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F True False 4. A person who performs services for a corporation in exchange for stock will be treated as a member of the transferring group even if that person only transfers a relatively small amount of property to the corporation. F True False 5. When a taxpayer incorporates her business‚ she transfers several liabilities to the corporation. If one of the liabilities is personal in origin‚ only that liability will be treated
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Multinational Corporation and the Global economy Multinational Corporation A corporation that manages production or renders services in more than one country. Classification of Multinational Corporations Subsidiaries If you company is cash rich‚ then acquisitions may be a better strategy than establishing branches. Acquiring a local company for the purpose of vertical or horizontal integration is fast and comparatively easy‚ provided that you plan to leave the original business (branch
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Introduction The population of the mentally ill in prison is growing in result of the individuals not being treated properly in the community and while in prison. Officials believe that if you confine dangerous criminals it will decrease their sense of violence; however‚ Segregation is not an effective form of punishment for these individuals. Fitter treatment needs to be provided in prison for prisoners with mental illness as well as after their release. If the prison system does nothing‚ then mental
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Supermax Prisons and Their Adverse Effects Introduction Due to increasing crime rates and the extensive belief that rehabilitative programs for inmates do not work‚ a new and harsher method for prisons is being utilized. Instead of scattering the worst criminals‚ they are being consolidated into Supermax prisons. Supermax prisons are state of the art penitentiaries meant to hold only the worst of the worst criminals and inmates that cannot be trusted in regular prisons. There are strict regulations
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individuals. Corporation: A legal entity created by a state‚ separate and distinct from its owners and managers‚ having unlimited life‚ easy transferability of ownership and limited liability. Limited Liability Company (LLC): A relatively new type of organization that is a hybrid between a partnership and a corporation. Limited Liability Partnership (LLP): Similar to an LLC but used for professional firms in the fields of accounting‚ law‚ and architecture. It has limited liability like corporations but
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Inc to issue New Stock Certificates to the Ancilliary administrator. Benguet refuses to obey the order of the CFI of Manila on the ground that it is in violation of the Corporation By Laws. Issue: Whether or not the Benguet Consolidated Inc is covered by the orders of the COURT. Held: The Supreme Court Held that “a corporation is an artificial being created by operation of law‚ it owes its life to the state‚ its birth being purely dependent on its will”. It is logically inconceivable therefore
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claims of local creditors. However‚ such company challenged the said order invoking some provisions of its by-laws concerning procedures to be followed in surrendering a stock certificate. Issue: Whether a corporation can refuse to yield obedience to acts of its state. Ruling: No. A Corporation is an artificial being created by law. It is a creature without any existence until it has received the imprimatur of the state. Hence‚ it cannot refuse to yield obedience to acts of its state including the
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