Legal entities

be very challenging. There are factors and aspects that need to be looked at to make sure you are in a place to do so without spending all your resources. Especially changing from a sole trader [a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business as stated by “E-conomic, Sole Trader- What is a Sole Trader?] to a franchise [a right granted to an individual or group to market a company's goods or services within

Table of content 1.0 Introduction………………………………………………………………………..1 2.1 Legal effect of Memorandum and Article of Association………..……1 - 2 2.0 Memorandum of Association…………………………………………..……...2 - 3 3.2 Doctrine of Ultra Vires……………….…………………………...…...3 - 4 3.0 Article of Association………………………………………….………………4 - 5 4.0 Australian Corporation Law 1961……………..………………………....……5 - 6 5.0 Conclusion…………………..…………………….……………….…...…………6 6.0 Bibliography…………………..…………………….……………….…...……….7

assets of the business and which has no legal incorporation. The owner has unlimited liability of the business. * Partnership – Similar to a sole trader except there are more than one owner (normally 2-20). Partnership is a contractual agreement under a contact uberrimae fidel (utmost good faith). Owners are ‘jointly and severally’ liable and liability is unlimited. * Private (Ltd) and Public (PLC) Limited Companies – Limited companies are legal entities in their own right and have a formal

PODS: The Evolution of a Small Business Small businesses are very important to the United State economy because 65 percent of new jobs over the past 17 years come from small business (Unites States). Everyone wants to own his or her own business, but having a good idea to start a business is not easy task; however, Peter Warhurst is one of the most successful entrepreneurs who dared to start his business with his three partners: Roy Courtney, David Revelia and Bill Ash. They were once firefighters

of the loss. 2. "What are the three basic forms of business ownership? What are the advantages and disadvantages to each? The three forms of business ownership are sole proprietorship, partnership, and corporations. A sole proprietorship is a entity that is not legally separate from its owner. The advantages to the sole proprietorship are single control over the business and its decisions, easy to start up, less regulations and paperwork burden that the other types of business. The disadvantages

A successful business is business that has good entrepreneurial skills which enables them to unite production to the complex matters of demand. It also encourages them to improve on what they produce such as the quality and how they produce the product to meet the demand in the future. For example Apple, not only did they improve on the software they use but also the quality of the phone. However a firm lacking in entrepreneurship skills would risk being forgotten if they fail to make the right assumption

Accounting can be defined in a number of ways, but I chose the book definition, which is; Accounting is an information system that provides reports to stakeholders about the economic activities and condition of business. The person in charge of accounting is called the accountant. The accountant is typically required to follow a set of rules and regulations. These rules and regulations are called the General Accepted Accounting Principles. Throughout these next few paragraphs, I will be giving you

Business Organisations Spyridon Natsis The aims of the report: 1. Explain the structure of business organizations 2. Give the legal documents relating to each business. 3. Explain issues in which stakeholders are concerned. 4. Explain the relation between legal requirements, stakeholders and business financial activities. Contents 1. Introduction 2. Sole trader organisations 2.1 Stakeholders of sole traders 3. Partnership organisations 3.1 Stakeholders of partnerships

DIFFERENT FORMS OF ORGANISATION SOLE TRADING CONCERN ▪ Meaning ▪ Features ▪ Advantages ▪ Disadvantages ▪ Suitability PARTNERSHIP FIRM ▪ Meaning ▪ Features ▪ Merits ▪ Demerits ▪ Kind of partnership firm ▪ Types of partners ▪ Partnership Deed JOINT HINDU FAMILY BUSINESS ▪ Meaning ▪ Features ▪ Advantages ▪ Disadvantages JOINT STOCK COMPANY ▪ Meaning ▪ Features ▪ Advantages ▪ Disadvantages ▪ Management ▪ Forms

P1: Explain different types and purposes of organisations; public, private and voluntary sectors and legal structures. What is an organization? An organization is a group of people, such as a foundation or an academy that worked together to accomplish multiple goals and is associated to an external environment. There are different types of organization, some organization formed to earn income for its owners but some other organization which called non-profits are worked for public purposes. There