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Characteristics of different types of companies
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Legal Provisions Concerned with Business Units
Our client is in the process of forming a company.
She wishes to avoid personal liability upon any contracts she may
enter into on behalf of the proposed company.
Our job is to design a report to explain the legal provisions
concerned with the formation, management and dissolution of business
units.
The report will identify the relevant legal principles, which can
influence the choice of business unit. Explain the differences in the
regulatory approach adopted for partnerships and registered companies
and describe the procedures for the dissolution of business units.
At the end of the report we will advise our client what type of
company would be best suited to her needs. There will also be a
presentation to go with the report highlighting the main points.
2.TYPES OF COMPANY
There are many different types of business unit. Each is formed by a
group of people with a common aim. Britain has what is known as a
mixed economy where goods and services are supplied by both private
and public sector organisations, as shown in the following diagram:
Private Enterprise
Sole Trader Partnerships Limited Companies
Co-operatives
Private Public Retail Producer
Public Enterprise
Public corporations Government Departments
Local Authorities
The private sector/enterprise is the term used to describe all
businesses which are owned by individuals or groups of individuals and
run essentially for profit. About half of all trading in Britain is
controlled by private sector organisations. The other half known as
the public sector/enterprise are businesses which are owned and
controlled by the government or Local Authorities and run for the
benefit of the country. The sector this report is concerned with is
the Private Sector.
2.1 SOLE TRADER
This is the oldest, simplest and therefore most common form of
business unit. A sole trader is one who conducts their business by
themselves either using their own name or a business name. This is
somebody who is self-employed and who usually starts a business with
capital from their savings or by borrowing from friends or a bank.
Capital is the money which every business needs to enable it to set up
and operate, for example to buy premises, equipment, stock and pay
wages. The main advantage is that you can be flexible. You don’t
need to discuss with others (e.g. partners and directors) how you are
going to run the business. You also have less paperwork. A sole
trader is not necessarily a one-person business and may have many
employees or branches. However, the business is owned by one person
and it is they who receive the profits.
ADVANTAGES
DISADVANTAGES
- Business affairs can be kept private except for completing tax
Corporation – “A business organization that exists as a legal entity and provides limited liability to its owners.” (Longenecker, Petty, Palich, Hoy, Pg. 205) The main advantage of a corporation is that the business liability falls onto this entity instead of the individuals that own it. The disadvantages of this organization are found mostly in its formation. A corporation is expensive to create and requires compliance with state
This is a complex case, involving multiple parties and several variables that need to be examined thoroughly. The parties mentioned include Knarles operator of the facility maintenance company, his son Barkley, their employee, a licensed plumber, and Mr. Chetum. Although in the end Chetum is suing the facilities maintenance firm for a breach of contract, all factors must be examined to determine proper fault.
...he edge as his focus moves internally as he figuratively crawls in to his “cavern” where his mind can only focus on the immediate things around him like the sounds of horses’ hooves and voices. Tennyson finally shifts the speaker out of his inner madness and changes the focus again. This time the Crimean War becomes the escape for the speaker. He is now somewhat aware that his mind is not sane and he looks to the only thing that can give him peace, death. Tennyson’s speaker in his morbidity and inner discourse is tragic, but comments such acts of written eloquence the reader can not help but be trapped by his madness as he finds peace in his final act of madness.
The themes of the two poems are portrayed in very distinctive ways. ‘The Charge of the Light Brigade’ explains in a majestic approach, that fighting in war is something every soldier should honour. The poem is also about the loyalty of the soldiers, not the bad luck or foolishness of men. Tennyson presents this in his poem to show the bravery of the soldiers, although, he only highlights on the benefits of war.
I think that I have always wanted to be a teacher. Being the eldest of four children, I have always enjoyed being that helping hand and using my talents and abilities to help others. In the remainder of this essay, I will explore how my personal background, development as an individual over time, and how experiences as a student have influenced my attitude towards education and prompted me to choose teaching as a profession.
There are many different types of business structures, but if you own and operate a business that it is a sole
I am 19 years old and I am part of the “millennial” generation. This generation has basically grown up with the Internet and social media, which completely changes the way we interact with people as well as how we study. Being a college student in this era is probably easier than when my parents were in college because of the technology that is readily available. There is a lot of conflict and bias between our grandparents’ generation and our generation because of the way our society has dramatically changed. The way I see it, the baby boomer generation worked harder and the millennial generation works smarter. They are both equally admirable ways of doing things, but it causes a disconnect between the
The character of Skellig remains a mystery throughout the novel. The reader is taken on a journey of imagination about how Skellig got in the garage and where he goes at the end. David Almond mentions in an interview that he gets asked these questions weekly, he, as the author, doesn’t know the answers himself leaving it up to the imagination of the readers. Although, we do know that Skellig has lived in the garage long before Michael’s family moved in. David Almond doesn’t mention exactly what he is. “Something like you, something like a beast, something like a bird, something like an angel.” pg. 167. Many readers believe that Skellig was only imagined by Michael to get him through a tough time. When Michael first sees Skellig h...
The Hippie Movement changed the politics and the culture in America in the 1960s. When the nineteen fifties turned into the nineteen sixties, not much had changed, people were still extremely patriotic, the society of America seemed to work together, and the youth of America did not have much to worry about, except for how fast their car went or what kind of outfit they should wear to the Prom. After 1963, things started to slowly change in how America viewed its politics, culture, and social beliefs, and the group that was in charge of this change seemed to be the youth of America. The Civil Rights Movement, President Kennedy’s death, new music, the birth control pill, the growing illegal drug market, and the Vietnam War seemed to blend together to form a new counterculture in America, the hippie.
Blunden, Edmund and Heinemann, Eds. “Tennyson.” Selected Poems. London: Heinemann Educational Books, 1960. p.1. print.
Lord Tennyson celebrates the glory of his six hundred brave soldiers who went into battle knowing they would be dead once the war was over. The first verse starts of in action as the chief officer, sends an order for all soldiers to
Tennyson uses the last stanza to push hard the idea he has been working toward all poem long: these guys have to be remembered. He asks, “When can their glory fade?” and he doesn’t want an answer. This rhetoric serves to illustrate his feelings about how long these men ought to be remembered: forever. Tennyson finishes off the poem by ordering the reader to remember the Light Brigade, his goal being that they be forever immortalized. They live on as legend in great part due to Tennyson’s work.
During Tennyson’s childhood and maturing adulthood he endured tempestuous events which altered the course of his life and the essence of literary career. The death of his best friend, Hallem, threw him into a phase of darkness, solitude and despair. It was “a period referred to as his ‘”ten years silence”‘(Napierkowski and Rose 270); he was extremely affected by the death “for it shattered all his life and made him desire to die rather than live” (Napierkowski and Rose 270). The potent emotion surrounding death was modeled in his poem Tears Idle, Tears. The poet identified “the source of his poems emotion as rising from his feelings about the death of his college friend…H...
An additional advantage is that a sole proprietorship can be easily organized. It’s easy to start your own business. First of all, it costs very little money to start your own business. As a sole proprietor, you have minimal legal requirements. The owner doesn’t have to establish a separate legal entity.
The interests ,food, habits ,slang , entertainment and also the way of thinking of the younger generation differs from the older generation. These changes are indicative of progress, Unfortunately, The older generation find it hard to accept these changes that make the gap wider. They differs in the way of dressing for example, the younger generation wear jeans and stay up to date in their style unlike the older generation .As the older generation has their own style according to their age. So the older generation might find these outfit inappropriate. Also the difference in slang and language fr...