Business Associations Outline 1. Agency a. Creating the Agency Relationship i. agent and principal enter into an agreement (not required to be in writing....no K required) in which the agent acts on the principal’s behalf in entering K’s etc…. 1. if done within the scope of the agency (enter into K, etc…) anything done by the agent is binding on the principal 1. principal may be liable in K, tort, property, etc…. (Vicarious liability) ii. question of agency is a factual matter to be determined
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of business structure to start. It is business that does not have a difference from the owner and the business. Responsible for all your business’s debts, losses and liabilities can even come after personal property. • LIABILITY: Owner has unlimited liabilities because there is no difference between the owner and the business. • INCOME TAXES: The taxes are taxed just like any other form of income. • LONGEVITY/CONTINUITY: There is no partnership and when owner dies the business die
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longer in the organization hands to enforce ethic training; Courts have made a decision that ethics training became a legal requirement “federal guidelines and state laws make it essential that you provide your employees with a compliance training program on certain laws and ethics-related topics” (Ethics Training Program & Corporate Compliance Training Programs, n.d.). Researchers haves said (Ferrell, O.C., Fraedrich, John and Ferrell, Linda, 2008) that by having an ethical workplace, your organization
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Livedoor Internet services company Livedoor have benefited from loopholes in the laws of equity trading to inflate the amount of assets held by the company and its president, Horie, Livedoor who led the group. Livedoor was created in April 1996 and Horie made his debut on the stock market in April 2000. Its market capitalization increased to 830 billion yenin December 2005, 15 times the peak. Behind the steep jump in the value of the company was a series of tactical moves. Livedoor strategy focused
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DEFINITION A Limited Liability Company (LLC) is a business structure allowed by state statute. Each state may use different regulations, and you should check with your state if you are interested in starting a Limited Liability Company. Owners of an LLC are called members. Most states do not restrict ownership, and so members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only
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struggling single mother who becomes connected to Ed Masry’s law firm because of an unfortunate car accident. She becomes interested in the cases between the community members of Hinkley, CA and a company by the name of Pacific Gas and Electric (PG&E), who have a plant in Hinkley. Several families in the Hinkley community have various health problems, from headaches, to miscarriages, to gastrointestinal cancer. Although Erin does not have a law degree, she is able to uncover many details of this case
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The Impact of the Sarbanes-Oxley Act on Corporate America In discussing the impact of one of the most important laws passed in Congress to legislate the accounting and reporting rules of corporations, I need to give a brief definition and some background information for the Sarbanes-Oxley Act. In 2002, the Sarbanes-Oxley Act was passed into law by the United States Congress. After a series of high profile corporate scandals, such as Enron and WorldCom, the Congress of the United States passed
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place to build a healthy learning-encouraging environment in the organization and help employees to build self-confidence. (Goyal, 2008) When providing suggestions on improving human resource management and retaining talent within an organization, a business consultant should understand the important role of training in maintain and improve employees’ competency and keep them updated with most updated knowledge and skills in related areas. Keeping learning new knowledge and skills better prepares employees
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ethical issues a business needs to consider in its operational activities. BUSINESS ETHICS: - is the application of ethical values (the standards that are set by a business or individuals that control their behaviour) to business behaviour. - apply to: all aspects of business conduct, all levels of the organization, all activities that affects stakeholders and the organization as a whole. P1 ETHICAL ISSUES: 1. Corporate governance and corporate social responsibility Corporate governance –
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inspire people to take small everyday actions that can add up to a big difference for the world. * We will develop new ways of doing business that will allow us to double the size of our company while reducing our environmental impact. We've always believed in the power of our brands to improve the quality of people’s lives and in doing the right thing. As our business grows, so do our responsibilities. We recognise that global challenges such as climate change concern us all. Considering the wider
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