your fictitious name (DBA) • Obtain all permits needed to operate Next we need to look at the “type” of business model you are going to establish. With the business plan presented, I believe we should look at either a sole proprietorship or a Limited Liability Company (LLC). First option is to go forward with one partner as an LLC. The second option is go it alone, as a sole proprietorship. It is my firm belief that with your extensive background and business sense, you should take this project
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shared responsibility. Disputes can arise over decisions that have to be made, or about the effort one partner is putting into the firm compared with another. Like a sole trader, partners have unlimited liability. http://www.bbc.co.uk/ Limited companies A limited
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Duties of company with respect to issue of certificates (1) Every company shall, within two months after the allotment of any of its shares, debentures or debenture stock, and within two months after the date on which a transfer of any such shares, debentures or debenture stock is lodged with the company, complete and have ready for delivery the certificates of all shares, the debentures and the certificates of all debenture stock allotted or transferred, unless the conditions of issue of the shares
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Compare and contrast the Companies Act 1963 -2009 with the Companies consolidation Bill 2011. Highlight the major differences and identify new initiatives in the Bill. The 1963 Act, by law the Principal Act, remains nominally the main Companies Act in Ireland today, but does not anymore provide a comprehensive statement of the law. Since 1977 it has continually been amended. The 1990 Act contains 262 sections of law and the 2001 Act contains 114 sections, although the Principal Act contains only
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LLC? How does an LLC or corporation differ from a sole proprietorship or partnership if the firm goes bankrupt? A Limited Liability Company (LLC) or Limited Partnership is a one or more main partner who will run the business and make unlimited liability, but there are one or more limited partners (investors) who do not actively participate in the business whose liability is limited to the amount of their investment in the business. LLC differ from a sole proprietorship or corporation in a bankrupt
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There are many types of businesses; a sole trader is an individual who has set up a business on his own and works as a self-employer. He has the right to make all business decisions and owns all assets of the company (Mavrikakis: Watson, 2011/2012:4). ‘A sole trader has independent control of the business and any profit made is his/hers.’ (Adams, 2008:411). He has all liability for any debts the company may face and is also responsible for paying income tax on all income the business takes. Setting
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relation which subsists between persons carrying on business in common with a view of profit. Partnership offers flexibility where its members are allowed to agree or disagree upon its arrangements. The traditional partnerships found in Malaysia are the limited partnership and the general partnership. In general partnerships, partners have unlimited liability towards the debts of the company. Unlimited liability is defined as the situation where the personal assets of the partnership's members are vulnerable
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Business name My name is Megan Quigley, and I am a sole trader of a new pizza business. My pizza business will trade under the name of “Mama’s Delight Pizza ”. My business will be located in Northside Shantallow, Derry, Northern Ireland Mission Statement A mission statement is a formal short written statement of the purpose of a company or organisation. The mission statement should guide the actions of the organisation, show its overall goal, and provide a sense of direction. The mission
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Vo Manh Tai Nguyen Phuong Hoang Cuc Le Thi Bao Tram Dao Hai Binh Le Phuoc Thanh Tin BUSINESS FORM a. Kind of business form: Partnership. Management responsibilities: 3 general parners are active in managing the firm. Mr. Lam is a limited parner who invests money in the business but does not have any management responsibility or liability for losses beyond the investment. b. Our partnership have many tax advantages. Our partnership can be viewed as an extension of its owners for
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the last scenario, the legal aspects of hiring a new employee are investigated. Restaurant/Bar Lou, Jose, and Miriam should create the business as a limited partnership. A limited partnership consists of one or more general partners and one or more limited partners. General partners manage the business and take personal liability for debts. Limited partners provide capital and are personally responsible for debts up to his or her investment in the company but are not involved in the management of
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