Family and Medical Leave Act Law Ethics and Corporate Governance Executive Summary When most employees think of benefits, the first thing that comes into mind is vacation days, personal days, and bonus. The Family Medical Leave Act is another benefit that is not very common, but is accessible if an employee is working for a company that employs over 50 employees within 75 miles from the worksite. It offers employees the benefit to take up to 12 weeks (26 weeks
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Business Organization and ADR Tracey A. Duggan FIN/540 July 2, 2012 Donald Frey Business Organization and ADR Choosing to start a business requires making major decisions and determining what form of business to undertake may be the decision of one person or several people. After the decision has been made on what type of business to start, it will be important to put in place an alternative resolution dispute process to have solve disputes that may face the company. The
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forms of business: sole proprietorship, partnership, limited liability partnership, limited liability company, S corporation, franchise, and corporate form. Develop scenarios in which each of these forms of business would be the preferred form. For each scenario, justify why the corresponding business form is preferred. In business world the first decision that is made is usually the most difficult. When making business investment decisions, the owner must decide what types of business organization
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Task 310.12 Sole Proprietorship A sole proprietorship is an unincorporated business with a single owner that deals with personal income tax from profits of the business. A key disadvantage of a sole proprietorship as an organizational form is that it does not create another legal entity, making the sole proprietor responsible for all debts incurred. A key advantage to becoming a sole proprietor is startup is usually easy and all the profits that are incurred by a single owner (“Sole Proprietorship
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Purchasing Officer's Personal Liability PROC 5810 Webster University Online 22 July 2013 Abstract If you research the internet, there are massive amounts of information on how the law handles purchasing agent actions when acting upon directions from their principal, but what happens when the agent acts alone, is the agent held responsible? What about signature authority or when the agent is careless and takes on actions that he/or she has no right to perform. Can a purchasing officer be
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individual. In this business, a single person makes all the decisions and does not have to engage a legal department to approve contracts. The owner of such a business can only use personal funds even though he or she may have separate checking and savings accounts for the business. The first characteristic of this form of business enterprise is liability. A sole proprietor suffers from unlimited liability. The owner becomes liable personally for all the obligations and debts of the business. The second
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MW 10:15 Business law Business Formation Assignment (ch. 19&20) Sole Proprietorship What legal liability and protection comes with this form of ownership? In a sole proprietorship the owner of the business has full liability for anything that happens within the business. The business isn’t its own entity therefore it all falls on the sole owner. Any issues, liabilities or losses that incur within the business are the owner’s responsibility. How is this type of business formation
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on the principal’s behalf, as expressly stated in the agency agreement. In addition, the agent may also possess certain implied or apparent authority to act on the principal’s behalf”(p.461). A business owner needs to clearly define the responsibilities and authority that each employee holds. The business owner also needs to clearly state which individuals within the organization have the authority to enter into a contract on the organizations behalf. The author will discuss “The Nature of Agency
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Small Business Idea Katrina Le`Vere University of Phoenix ACC 561 July 17, 2012 Samuel G. Smith Introduction Starting a business requires a decision governing what form of business organization the company or corporation should operate under. This decision must be made before the business has actually begun operations. The owner must make two initial decisions in order to begin their business operation: the type of business entity
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so you got to require to give the benefit back * Reformation Types Of business entities Goals: pay as little tax as you can and limit liability Sole proprietorship: easiest business to form * Individual – personal venture * Advantage: easy to do, no separate taxes to pay, no corporate taxes to pay so lower taxes * Disadvantage: fully 100% liable Partnerships generally: individuals operating a business a co-owners * No separate taxes * Both partners are liable is a downfall
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