...Business Law Trends With the move towards a market economy slowing taking over Europe, there has been a vast amount of changes in laws that effect businesses across Europe and in the Czech Republic in particular. Through my research, I have discovered a few trends in which I have found interesting. The first of those trends is the slow removal of anonymous corporate ownership in the Czech Republic. Before the end of last month, numerous companies throughout the Czech Republic had anonymous shares. This made it difficult to determine who had ownership in these said companies. Because of that, just recently a law was put in to place to prevent these thousands of companies from continuing to keep shares anonymous. June 30th was the deadline for companies to make all corporate shares public, and if the anonymous shares are not removed then the companies themselves should disappear. Anonymous shareholders will also lose their rights within these companies such as voting at meetings and receiving dividends. The reasoning behind this is to create a more transparent corporate world in the Czech Republic. As well, this law will help towards ending corruption and criminal acts in the corporate world. Many of these companies have been viewed as a front for illegal activity. These companies have been pinpointed as the most likely companies to be involved in fraud, and the government has made it a point to attempt to block these companies from receiving subsidies, payments, and public...
Words: 1076 - Pages: 5
...Lastly, we will describe ways Moonglow can expand internationally while maintaining its eco-friendly practices and continue producing organic products. According to Jones (2011) a joint ventures is a “strategic alliance among two or more organizations that agree to establish and share the ownership jointly of a new business” (p. 342). Joint ventures are formal and bounded by a legal agreement with all parties’ rights and responsibilities spelled out. Joint ventures are considered one of the best methods for entering into foreign markets. As with any business venture, there are pros and cons that need to be considered (Jones, 2011). Many foreign markets have the potential to be closed to outside companies. Joint ventures make entering into closed markets easier. The pros to entering into a joint venture are access to limited capital resources, transfer of technology, bypass of legal restrictions, access to raw material, knowledge of regulatory climate, and investment incentives (Hall, 1984). In a joint venture, Moonglow will gain access to capital resources they would not normally have. Local investors are likely to invest with business partners they trust. Although they do not know Moonglow, they will know our joint partner. When two companies come together, they both bring their own technology. They are able to share with each other without having to worry about licensing agreements and the normal fees that are...
Words: 2524 - Pages: 11
...Proposal James Collier BUS311: Business Law I Instructor: Daniel Malvin 9-1-2014 A sole proprietorship is a one-person business that is not registered with the state as a corporation or a limited liability company (LLC). The owner of the Acme Firework is a sole proprietor that has never changed his business entity. A sole proprietor can be held personally liable for any business-related obligation. This means that if your business doesn't pay a supplier, defaults on a debt, or loses a lawsuit, the creditor can legally come after your house or other possessions. Product liability laws cover consumer goods and goods used at a workplace. If someone is injured by a defective product or suffers loss or damage to private property, they can sue for damages. Both producers and distributors can also face prosecution if they offer unsafe products for sale. When a defective product causes injury, the manufacturer of the product, the distributor, the wholesaler and the retailer who sold the product may all be liable to the plaintiff. Several large retailers have sent inquires about the company’s ability to fill large orders on a regular basis, but the owner is anticipating he will need new employees and is worried that he will not be able to pay the employees if the large orders do not continue. The owner will have to consider a business entity because the company is going to grow with more employees and workloads. To get the most out of a small business, a company will have to choose...
Words: 984 - Pages: 4
...1. Introduction 1.1 definition of Law: [MASS NOUN] (Often the law) The system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties: The purpose of this report is to evaluate the purpose of Alternative Dispute Resolution (ADR) paying particular reference to the serves that Acas provides. The extent of its success as a way of resolving disputes outside of formal judicial process. Furthermore this report will look into why European Law has more power over United Kingdom’s domestic law. And lastly the two employment rules a new business in the UK is required to conform too. This will be followed with a conclusion. 1. Purpose of Alternative Dispute Resolution (ADR) The work environment is one tough place to be as it is very difficult to avoid any type of conflict that can arise between work colleagues or with the employer and employee. For this reason it is valuable for an organisation to have a resolution of work place conflict, safeguarding this is very effective for employees and employers as well as members of the business shareholders Teague et al (2012). The main issues that are faced in the work place are usually disputes occurring in work groups or sometimes involving people in work groups these are usually to the way someone is doing their job, personality clash the difference in age, race could also be a cause for work conflict. Teague et al (2012). The conflicts...
Words: 2649 - Pages: 11
...European Social Law Essay “In Western European societies, the dissociation between labour law and the law governing markets, which resulted in the emancipation of the former [from the latter], has been of significant relevance” (Antoine Lyon Caen, translation from “Droit Communautaire du marché v.s. Europe sociale”) Discuss whether and to what extent the ECJ's judgements in Viking, Laval, and Rüffert make it difficult to uphold the division between labour law on the one hand and the law of the (internal) market on the other hand, which - according to Lyon Caen - has been characteristic of labour law in Western Europe so far. Dissociation between labour law and law governing markets Labour law emanicapted from law governing markets Is it difficult to uphold labour law? and law of internal market? Balance the two? Introduction Balance the application of the EU's free movement rules (in particular the right to work and provide services in another member state) with the maintenance of different national social systems How will these freedoms affect trade union rights such as the right to collective action and collective bargaining? For a long time there has been a tendancy to look upon the EC as a guarantor of labour and social rights (particularly by the UK) Globalisation poses threats to national protection of labour law. Creates pressure for race to the bottom. So, supranational action is needed to defeat this pressure (justification for...
Words: 1659 - Pages: 7
...MODULE -2 Business Organisations Notes 5 FORMS OF BUSINESS ORGANISATION ou have studied in the first lesson about the business, its significance and the classification of business activities. You are also aware that these activities are carried out by individuals in an organised form of a business house having different patterns of ownership and management. A single individual may own the business or a number of individuals may come together to own the business jointly. So, based on ownership, we have different forms of business organisation like a proprietary concern, a partnership firm or a company. In this lesson, you will learn about the various forms of business organisation (excluding a joint stock company), their characteristics, merits and limitations, suitability and the steps involved in their formation. Y OBJECTIVES After studying this lesson, you will be able to: • • • • • explain the concept of business organisation; state the meaning and characteristics of Sole Proprietorship, Partnership, Joint Hindu Family Business and Cooperative Societies. identify the merits and limitations of these forms of business organisation; describe the suitability of these forms of business organisation; and explain the steps in the formation of these business organisation. 5.1 BUSINESS ORGANISATION You have already learnt about the meaning of business and the various types of business activities like industry, trade, transport, banking, insurance etc. If you observe...
Words: 10847 - Pages: 44
...organisations. Why do they have different structures? How does the structure relate to the particular sector (private/public/voluntary or charity) that the organisation is in? You may want to evaluate how effective the organisational structure is (does it work well or could it be improved?). If the organisations do not already provide organisational charts themselves you could construct one of your own from research about the organisation on its website and in documents. Perhaps you could write to the organisation asking them for a copy of an organisational chart. 1 .4 Impact of external factors in the business environment on organisations There is a simple rhyme which goes: Environment to each must be All there is that isn’t me. You can see therefore that the business environment consists of all those things outside the business. The business needs to keep a watchful eye on the...
Words: 8995 - Pages: 36
...bs_bs_banner European Law Journal, Vol. 19, No. 6, November 2013, pp. 759–778. © 2013 John Wiley & Sons Ltd., 9600 Garsington Road, Oxford, OX4 2DQ, UK and 350 Main Street, Malden, MA 02148, USA ACTA and the Enforcement of Copyright in Cyberspace: the Impact on Privacy Iryna Ievdokymova* Abstract: As the reach of the Internet expands, governments increasingly seek to introduce initiatives aimed at controlling individuals’ online activity. One such initiative, aimed, inter alia, at introducing enhanced online copyright enforcement standards, is the Anti-Counterfeiting Trade Agreement (ACTA). The paper analyses a possible effect of Art. 27(3) of the agreement on the data protection and privacy rights, as spelled out in the EU legal order. Firstly, the EU legal framework on Internet surveillance for copyright enforcement will be addressed. Next, the principles and safeguards applicable to data processing in the context of communications surveillance will be illustrated with reference to the jurisprudence of the European Court of Human Rights. It will be argued that ACTA, if interpreted broadly and implemented without safeguards, would provide an incentive for graduated response systems, which, as it will be shown on the example of the French graduated response, may trump privacy rights on a massive scale. I Introduction Could cyberspace be considered a zone of liberty, for the most part unrestrained by government regulation and intrusion into individual rights...
Words: 12648 - Pages: 51
...Other Concepts 2 B.) Agency and Partnership Law 2 II.) INTRODUCTION TO THE CORPORATE FORM 16 A.) Formation and Structure 16 B.) Debt, Equity, and Valuation 22 III.) CONTROL OF CORPORATE DECISIONS 32 A.) The Role of the Shareholder 32 B.) Management Obligations 50 1.) Duty of Care 51 2.) Duty of Loyalty 56 3.) Duty of Fairness: Parent-Subsidiary Relationships 63 4.) Duty of Good Faith 64 5.) Management Obligations Under Federal Securities Laws 67 C.) Shareholder Litigation 76 IV.) Structural Changes 85 A.) Transactions in Control 85 B.) Mergers and Acquisitions 86 1.) Mergers 87 2.) Sale of Assets 93 3.) Asset Purchase or Tender Offer 94 C.) Public Control Contests 96 1.) The Poison Pill 100 2.) Enhanced Review When Business is Up for Sale 103 3.) Proxy Contests for Corporate Control 106 4.) Protecting the Deal: Shareholder Lockup Agreements 109 I.) INTRODUCTORY PRINCIPLES • Definitions o Corporate Law: The allocation of rights and power within a corporation; the internal body of law ▪ Addresses the creation of economic wealth through the facilitation of voluntary, ongoing collective action ▪ Flexible- expectation that market discipline will weed out what is not working ▪ Principle aim- reduce agency costs of all sorts o Securities Law: Regulates capital markets that corporations use to obtain funding o Firm: A form of business relation that has a temporal dimension, a...
Words: 62796 - Pages: 252
...individual by using the concept of “indirect effect” Von Colson v Land Nordrhein-Westfahlen [1984] ECJ Article 5 EC requires Member States to "take all appropriate measures" to ensure fulfilment of Community obligations. And this means that courts must interpret national law so as to ensure the objectives of Directive are achieved. This requires an effective remedy that has a deterrent effect and is adequate in relation to the damage sustained. A Directive cannot of itself impose obligations on private partiesMarleasing SA v La Comercial Internacional de Alimentacion SA [1990] ECJ Therefore, national courts must as far as possible interpret national law in the light of the wording and purpose of the Directive in order to achieve the result pursued by the Directive. This obligation applies whether the national provisions in question were adopted before or after the Directive; national courts were 'required' to interpret domestic law in such a way as to ensure that the objectives of the Directive were achieved. So, courts must do everything possible to interpret domestic law to comply with Community law. State Liability when there is no domestic law on a matter to which a Directive relates or domestic law is totally contrary to EC lawFrancovich v Italy [1991] ECJ Sometimes referred to as the 'Francovich Doctrine' or the 'Francovich Principle'....
Words: 1780 - Pages: 8
...Forms of Business Lurene Flynn Law/531 October 24, 2011 Christine J. Benway, J.D. Instructor Forms of Business Determining the type of business to open is very important in order to know the business form that will be used. Knowing the business structure is important because it determines how the business income will be taxed. This paper will discuss the different forms of business, give examples of each form, and justify why the corresponding business form is preferred. Sole proprietorship according to Cheeseman (2010) is the form of business in which the owner is actually the business: the business is not a separate legal entity (Cheeseman, 2010, p. 530). “An individual starts the business in his or her own name and does not require any special legal organization beyond the normal requirements such as licenses or permits” (Georgia Trend, 2006/2007, p. 34). Beauticians are great examples of a sole proprietorship. Beauty shops are usually owned by one person, while having other people working in them.This type of business form is preferred by beauticians or a plumber because it is easy, no formalities, and most importantly no federal or state government approval is required. According to Cheeseman (2010) the owner has the right to make all management decisions concerning the business, including those involving hiring and firing employees (Cheeseman, 2010, p. 530). A sole proprietor owns all off the business therefore he or she receives...
Words: 1428 - Pages: 6
...addressing a plan for the operations of a sole proprietorship business in a service or manufacturing industry, I will discuss the plan of starting a Business Consulting Agency to provide assistance to businesses. Organization & Communication The relevant issues associated with opening a consulting business are building cliental; establishing lasting business relationships with business owners and providing quality service when needed. The primary services that are offered include market feasibility studies, business plans, operational reviews, re-engineering, strategic planning, seminars and workshops. We strive to provide our clients with business services that help them become more successful and to become a leader in consulting to small businesses. In order to keep our overhead costs down, Business Consulting Agency will be located in the home of Monica Lathan which is equipped with a computer, fax machine and photocopier. Business Consulting Agency is a sole proprietorship, owned by Monica Lathan. As the business grows the firm may develop strategic alliances with other companies. Business Consulting Agency will initially only have one employee, Monica Lathan; additional staff support will be obtained on a subcontract basis and secretarial service will be contracted out as required. Business Consulting Agency is in the process of obtaining a bank loan for $35,000 to finance the start up of the business. During the first year of operation, our key objective is to develop...
Words: 932 - Pages: 4
...value, which help users foretell the outcome of events in the past, present, and future. Another reason relevant information is effective is that it is presented in a timely manner early enough for the user to consider when making a decision. It also helps users clarified and adjusted expectations in the past because relevance information has feedback value. Reliability is another quality that makes its accounting information effective. Reliable information is verifiable, it represents what actually happened, and it’s unbiased. Comparability and consistency are two secondary qualities that make accounting information useful. Comparability gives users the ability to compare information between companies in the same industry to make their business decisions. Consistency is another important quality for accounting information to be...
Words: 741 - Pages: 3
...5–7 pages) about the forms of business organizations listed below. Your report should have a subheading for each business form with a brief description of the business form and a brief discussion of the key characteristics, advantages, and disadvantages of that form of organization. Differentiate among the following forms of business by explaining how at least six of the seven key characteristics listed in the introduction to this task apply to each of the following organizational forms: 1. Sole Proprietorship 2. General Partnership 3. Limited Partnership 4. C-Corporation 5. S-Corporation 6. Limited Liability Company SAMPLE FORMAT Sole Proprietorship: Write a brief description of the form of business ownership, advantages and disadvantages. The key characteristics of the form of ownership should be addressed by discussing six of the seven bullet points below. You will want to have the heading as the form of business ownership and then use the bulleted list below for the key characteristics. • Liability • Income Taxes • Longevity or Continuity of the Organization • Control • Profit Retention • Location • Convenience or Burden General Partnership: Write a brief description of the form of business ownership, advantages and disadvantages. The key characteristics of the form of ownership should be addressed by discussing six of the seven bullet points below. You will want to have the heading as the form of business ownership and then use the bulleted...
Words: 337 - Pages: 2
...LIT1 Task 1 B.S Accounting A. Business forms are categorized into six different organizations. These business forms make up proprietorships, partnerships, corporations, and Limited liability companies. All forms of business have characteristics descriptive of each business form. Identifying the characteristics of each business while accounting for the advantages and disadvantages will help to clarify each form of business. 1. a. Sole proprietorship: A sole proprietorship is a company formed with the ideas and direction of one individual. This type of company is formed on the basis on one individual. A company formed on individual ownership is formed with the understanding of not being incorporated. The success and failure of the company depends on one person. This type of proprietorship has the advantage of just being in one person’s hands. All the decisions are made by one person, all the profits goes to one person. A disadvantage of this type of proprietorship is that the individual has nobody to turn to when he needs help; the responsibility is in his hands. Business entity characteristics fall into seven categories which we will cover below. Liability – There is no real line between business or personal liability and assets, they are the same in sole proprietorship. The outcome of success or failure is determined by the sole proprietor. Government does protect life insurance pay outs in case the business owner dies. Income Taxes – Sole proprietorships have an advantage...
Words: 2153 - Pages: 9
