Business law

1 Identify the three main types of business organisations recognised in Scots law. A. Sole trader The most popular style of small business enterprise, it’s simple to set up and does not require any formalities. Sole trader often is a one person who manages and owns the company. They take all the profits, but must also include all losses. Indeed, if the only operator becomes insolvent personal assets may be used to satisfy creditors, such as a house, car, etc. They are personally responsible

How to choose the right type of Business form LAW/531 How to choose the right type of Business form Today’s business world has many choices for the new entrepreneur to decide from when forming a business. The choices are sole proprietorship, partnership, limited liability partnership, a limited liability company, a S corporation, a franchise, and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form will

the world it is best to start a potential business or form a mutually beneficial merger; What factors do you consider? Do you wonder if your own societal rules, customs and values will clash with those of your new place of business? Would potential countries business laws and ethic hinder your company’s economic growth; or will those laws provide you aid. There are a number of factors one needs to consider when deciding where to move or start your business, these are but a few. 1. Societal customs

or LLC in Florida has administrative and regulatory requirements that must be fulfilled every year. Any small business attorney, accountant, consultant can tell you what is a “must-have” and what is not. For example, every Florida corporation or LLC must have a registered agent. A registered agent is simply a person appointed by the business owner who is available during normal business hours. The sole responsibility of this person is to receive and sign for service of process and official mail

importance to all Americans. Specifically, this act addresses the fundamental need of our nation’s workforce as it relates to work/life balance; therefore, by providing the context of the reasons why such a law emerged, identifying the collaborating actors in the creation and implementation of the law, articulating the process of enactments, as well as outlining out its path to enactment using the Analytical Framework, this exploration will increase its reader’s competency of knowledge about what transpired

Assignment: Business Environments in Chinese Society: (Student’s Name) (Professor’s Name) (Course Title) (Date of Submission) Introduction Business environments across the world have been experiencing numerous and rapid dynamics, forcing business enterprises to look for more intelligence before entering such markets. The need to start businesses in foreign markets is created by variety of factors which includes saturation of local markets and availability of attractive opportunities

when starting a business, one of the most important is the type of business entity you select for your company. Not only will this decision have an impact on how much you pay in taxes, it will affect the amount of paperwork your business is required to do, the personal liability you face and your ability to raise money. It 's not a decision to be entered into lightly, either, or one that should be made without sound counsel from business experts. “Kalish says it 's important for business owners to seek

the business and single owner are one in the same. A single owner makes all decisions with regard to the business and the single owner retains all profits earned by the business. The single owner is also responsible/liable for all debts and obligations of the business on a personal level. | Two Advantages | A sole proprietorship is easy to create; there is minimal creation cost and time.The single owner has autonomy in decision making; sole owner makes all decisions related to the business and

different ways that you can organize your new business. Given the above facts, please provide one advantage and one disadvantage with respect to each type of business organization and then choose a business structure for your new venture; explain why you chose the way you did. (10 marks) There are essentially three major types of business organizations: Sole Proprietorship: A business which involves an individual carrying on business alone, the business is the sole responsibility of one person, the

A partnership refers to a business that gets run by either two or more individual who comes to an agreement to contribute their resources towards the business as well as share in all the losses and profits. Accounting for liabilities and assets in the partnership tends to be much alike to accounting for one or any other type of business. Besides, the major distinction exist s in the accounting for equality. Businesses may get classified into several ownership forms. This text’s main concern is on