...INTRODUCTION Partnerships are defined by the Audit Commission (1998) as “joint working arrangements where parties are otherwise independent bodies who agree to co-operate to achieve common goals, create a new organisational structure or process to achieve these goals, plan and implement a joint programme and share relevant information, tasks and rewards”. Stern and Green (2005) clarify the definition of partnerships further as programmes that have “a high level of commitment, mutual trust, equal ownership and the achievement of a common goal, as distinct from networks which involve sharing information or other resources but not for the explicit purpose of joint working”. Definitions are particularly significant to the topic of this essay, as the component characteristics of partnerships as set out above are often overlooked by organisations and individuals when approaching the delivery of activities ‘in partnership’. In theory, partnership involves collaborative working where people pool ideas and expertise, so the leadership, energy and services produced are greater than the sum of their individual capabilities. It also requires re-thinking the remit or boundaries of organisations within which leadership is to be distributed and respected. This is particularly relevant when considering partnerships to deliver single outcome agreements that have previously been the responsibility of one body, or several bodies in isolation. These are challenges to which public sector...
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...enotes.com/topic/Raphide Carter, D. A. 2008. www.cartercenter.org/health/schistosomiasis/index.html Estebenet, A. L. 2002. www.henriettessherbal.com Ivancic, W. D. 2005. www.ijpsonline.com Klappenback, L. 2010. http://animals.about.com Jonson, B. A. and J. S. Brewery. 2000. www.exoticrainforest.com Lijing, Y. 2011. www.oocities.org/pohnpei.geo/proj98/alocasia.html Manner, Harley I. 2010, Farm and Forestry Production and Marketing Profile for Giant Taro, http://agroforestry.net/scps Nadkarni, M. G. 1976. www.herselfshouttongarden.com Nordsiek, R. 2003. www.wiechtiere.html Rinaldi, A. C. 2010. www.weekendgardener.net/how-to/snails-slugs.htm Wagner, J. R. 2010. www.who.int/mediacentre/facesheets/fs115/en/index.html: Watson, S. J. 2005. www.ars-grin.gov/cgi-bin/npgs/html A partner is a member in a partnership, an entity in which both the profits or losses of a business or other venture are shared between all members. Corporations favor partnerships because of a taxation structure that eliminates dividend taxes upon the profits of owners. http://searchitchannel.techtarget.com/definition/partner TechTarget This was last updated in October 2007 Posted by: Margaret Rouse http://www.englishforums.com/English/WhatPartnerFirmAccountingFirm/mxdlj/post.htm 2nd March 2010 8:22 pm Lawyee: Generally, the partner is a person who is a member of a business association - "partnership" where all partners are jointly and severally liable for debts of the...
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...available to ‘Health Plus’, to expel Annabel from the partnership? Introduction to law The area of law addressed in this issue is Partnerships: Partnership agreement, Fidicuary Duties of partners and expulsion from the partnership. Explaination of law Section 7(1) of the Partnership act states that a partnership can be defined as the contractual relationship between two or more persons with a common view for profit. Partnerships don’t always have to be written contracts. They can be deemed as functional partnerships by other means. Informally- Oral Agreement: is where partners agree to start a business in common and proceed to start up a business with a common view of profit by just word of mouth. As shown in the Miah V Khan[2000] UKHL 55; [2001] 1 All ER 20 case. The partnership fell out before operations of the Indian restaurant had began, but even though they had not carried out business together, they were still deemed a partnership because they worked in common and had a common view to profits. Conduct: Partners can be working together and aiding each other in earn profit but not being in a contract together. The partnership act still classifies them as partners .This can be reflected in the Goudberg V Herniman Assoc Pty Ltd [2007]VSCA 12. Williams engaged an artichect to draw up floor plans for the venture and both partners were liable to pay the cost of the plans .Partnerships can be assessed and identified by three main criteria as specified in the Partnerships Act: ...
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...third parties or outsiders. Step 2: Discuss the Principles of Law Under Section 7(1) of Partnership Act 1895 WA, partnership refers to a structure where two or more persons in a business are acting in common with a view of profit. Partnerships can be formed formally by written agreement which contains the rights and obligations of the partners and facilitates the resolution of disputes within a partnership. However, if the agreement is deficient, Partnership Act will be referred for resolutions. Partnership can also be formed by oral agreement or implied by the conduct of the parties (Harris, Hargovan and Adams, 101-103). Partners in a partnership are in a fiduciary relationship which partners have the duty to act in good faith, including avoid conflicts of interests, not make private profits, not compete with the firm and not disclose confidential information. The rules related to interests, rights and duties of partners will be provided in the written or oral agreement. (Harris, Hargovan and Adams, 131). Nevertheless, they are all being determined based on the Partnership Act 1895 WA – Section 34. Under Section 35(1) of Partnership Act 1895 WA, to expel a partner from a partnership, the power of expulsion has to be stated clearly in the partnership agreement; otherwise, no majority of the partners can expel any partner (Harris, Hargovan and Adams, 138). Section 35(2) of Partnership Act 1895 WA...
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...Part A (The Report) Sole Proprietorship A sole proprietorship is the most common form of forming a business in the United States. The individual that forms the sole proprietorship and the business is one in the same. For example, if the business owes creditors money, the individual who created the sole proprietorship business has to pay the bill. When entering into contracts the individual is actually agreeing to the contract since the person and business is one in the same. The biggest advantage of doing business under a sole proprietorship is that it is extremely easy to form since the individual creating the sole proprietorship is the business. They are fully responsible for all aspects of the business including making good on payments, collecting monies from customers, and providing the goods or services to their clients. Another reason individuals create sole proprietorships is the flexibility they gain by owning their own business. Since they do not have anybody to report to they can do as they please as far as hours, vacations, expansion, or direction of the business. However, there are many disadvantages that come with a sole proprietorship business. Since the individual is the business they are responsible for all financial responsibilities. They are responsible for ensuring all payments to creditors are paid on-time and in full. If the individual runs into financial issues they are responsible without protection. Also, sole proprietorships can only have one owner...
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...PART A Business Forms of Organization SOLE PROPRIETORSHIP: A sole proprietorship business is owned by a single individual and is not legally differentiated from the owner. It is the simplest form of business as there is less paperwork and it is subject to fewer regulations and restrictions. It is not usually required to register as a business unless it operates under a fictitious name or provides supplies or services that require licensing. The owner has complete autonomy for all business decisions and is the sole recipient of the business’s earnings. Likewise, the sole owner is completely responsible for all the business’s liabilities. Funding for working capital is based on and limited to the owner’s personal credit. • Liability: The owner has unlimited and unshared liability for all business debts. If the business falters, all business assets as well as all personal and family assets are at risk of garnishment except for the owner’s life insurance. • Income taxes: As a company, a sole proprietorship does not pay federal income tax. The sole proprietorship is a pass-through organization and all earnings are taxed as the owner’s personal income and generally filed with their personal income tax return on IRS Schedule C: Profit or Loss from Business. • Longevity or continuity of the organization: The owner can dissolve the business at will but the business cannot be passed on. If the owner dies or can no longer operate the business, the business...
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...Part 1 Business Enterprises in China 1.0 Introduction 2.0 Proprietorships 3.0 Partnerships 4.0 Corporates 1.0 Introduction In the People’s Republic of China, business organizations may be classified in to three main classes: individual proprietorships, partnerships, and corporations. The laws that effect these forms of business enterprises are diverse. There is no single code or statute that governs the PRC law of business enterprises. According to the sources of capital, there are domestic capital enterprises which are regulated by Sole Proprietorship Enterprise Law of the People's Republic of China , Partnership Business Law of the People's Republic of China, and Company Law of the People's Republic of China and foreign capital enterprises which are regulated by The Measures for Administration of the Establishment of the Partnership by Foreign Enterprises or Individuals within the Territory of China, Law of the People’s Republic of China on Chinese-Foreign Con-Tractual Joint Venture, Law of the People’s Republic of China on Chinese-Foreign Equity Joint Ventures, and Law of the People’s Republic of China on Foreign – Capital Enterprises. The relevant laws are the Security Law , the Fair Competition Law and the Antitrust Law. 2.0 Proprietorships 2.1What is a sole proprietorship enterprise A sole proprietorship enterprise means a business entity established within China with its capital contributed by one individual and its assts owned personally by the sole proprietor...
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...sole proprietorship, partnership, “C” corporation, and “S” corporation are the first step in building a lucrative company. Once the business organization has been decided, we have to decide on the best financial statement associated with the business. Understanding the business forms such as tax implications, legal implications and accounting implications will provide clarity during the filing for taxes. There are several advantages and disadvantages to sole proprietorship, partnership, “C” corporation and “S” corporation. A sole proprietorship is one person alone. He or she will have unlimited liability for all debts of the business, and the income or loss from the business will be reported on his or her personal income tax return along with all other income and expense he or she normally reports (although it will be on a separate schedule). Although proprietorship avoids the expense of forming a partnership or corporation, many start businesses this way because they are unfamiliar with the other forms of organizations (Business Organization, 2011). All profits and can be re-invested in the business or it can be used by the owner and negative aspect is Owner has full liability for entire business operations. Including all debts or lawsuits against the business. The owner's entire personal assets are at risk. There are two types of partnerships. General and Liability both allow unlimited liability for debits of the business. The general partnership, each of the two or more...
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...Hutchinson as an introductory paper to issues for the CCIC’s Learning Circle on NGO Engagement with the Private Sector. CCIC is grateful to the IDRC’s Canadian Partnerships Program for funding for the Learning Circle, including the production of this paper. The author wishes to express appreciation for the editing and other assistance provided by Brian Tomlinson of the CCIC, and for suggestions from other members of the planning group for the Learning Circle: Andrea Botto, Anne Buchanan, Tim Draimin, Philippe Jean, Brian Murphy and Lynda Yanz. 2 NGO Engagement with the Private Sector on a Global Agenda to End Poverty : A Review of the Issues Table of Contents 1. Introduction 1 2. What is this discussion really about? 2 3. Canadian NGOs: issues in advocacy, dialogue and partnership 3 3.1 Advocacy 3 3.2 Direct dialogue 6 3.3 Programming social partnerships and strategic alliances 8 3.3.1 What is driving the discussion of social programming partnerships and strategic alliances? a) Corporate interests b) Intermediary organizations c) NGO interests d) Government agendas e) Overlapping NGO-corporate interests? 10 10 11 12 13 14 3.3.2 Financial relationships 15 3.3.3 Strategic alliances and programming partnerships a) NGO and service / consulting firm partnerships b) Mining sector alliances and partnerships c) Codes of conduct for consumer goods 16 16 17 18 4. Cross-cutting issues 19 4.1 Approaches to social change for poverty reduction 19 4.2 Due diligence ...
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...| Sole Proprietorship | Description | A sole proprietorship business is the type of business where there is only one owner. It doesn’t require complicated filings like other corporations, and it allows for the owner to report both business income and expenses on their individual tax returns. | Two Advantages | Some of the advantages of starting a sole proprietor type business are: the ease of start-up and the cost effectiveness. There are also savings from tax filing, as it can all be done in one simple form. The proprietor can hire employees and get the tax breaks associated with said job creations and the owner not only has, but can transfer full control of the business whenever he/she sees fit to do so. | Two Disadvantages | Some of the more prominent disadvantages are the lack of continuity should the owner die, the risk of liability for any losses or law suits which can be obtained from the owners personal funds, the owner must pay self-employment taxes in addition to business taxes and benefits such as employee healthcare is NOT tax deductible. Raising capital can also be difficult as it is considered personal. | Liability | The owner is liable for business and self-employment taxes. He/she is also liable for any and all losses and or possible lawsuits as well as to collect any outstanding debts. Upon sudden death, any and all assets are carried over to any and all beneficiaries, including liabilities. | Income taxes | The owner is liable for business and self-employment...
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...LIT1 Task 310.1.2-01-06 PART A Sole Proprietorship - This is considered one of the most common forms of business in America. There are advantages and disadvantages in being a sole proprietor. An advantage would be that you, as the sole proprietor, are your own boss. In contrast a large disadvantage would be that you, as the sole proprietor, are completely liable for every aspect of the business. * Liability: Sole proprietorships have what is considered to be one of the biggest risks when it comes to liability in that they have unlimited liability. Unlimited liability means the sole proprietor is ultimately responsible if the business fails, this would include debts. * Income taxes: legally there is no dissimilarity in the proprietor and the business, so all the organizations income is taxed as if the owner were working like an ordinary person. * Continuity of the organization: Sole Proprietorships will only last as long as the owner is alive. If the owner dies so does the business, so any employees that the owner had would be left to find other means of employment. * Control: Control of a sole proprietorship lies solely in the owner’s hands, he/she has complete discretion of what direction the business will go or even if the business will continue or not. * Profit retention: The profits from the business go completely to the owner, and would not be shared with any employees. However, this also ties to the financial aspect of the business. If there...
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...2013. WHAT IS PARTNERSHIP? Partnership essentially is a matter of mutual agreement. Thus it is basically an offshoot of the lw of contract. It is governed by law statutes and agreement of parties. Partnership is the relationship which subsists between two or more persons carrying on business with a view to making profit. Three conditions must be satisfied before there can be a partnership viz: a. There must be a business: Business includes “every trade occupation of profession carried on for profit” whether a business exist or not is a question of mixed and fact to be determined by a judge. b. The business must be carried on in common by two or more persons. This implies involvement in financing and management of the business. c. The business must be carried on with a view to making profit. A partnership is significantly a commercial venture and not a charity. TYPES OF PARTNERSHIP A partnership may be one of the following: General, Limited, Corporate or Group. i. A General Partnership: Involves active as well as sleeping partners. All partners are liable jointly and severally for the debts of the firm regardless of their statues. ii. A Limited Partnership: Involves persons some of whose liability may be limited by agreement. In this type of partnership there must be at least one general partner. Registration is required for a limited partnership, otherwise it will be deemed to be a general partnership S. 47 Partnership Law of Lagos State. iii. Corporate Partnership: Is an association...
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...Form Department of the Treasury Internal Revenue Service A Principal business activity B Principal product or service 1065 U.S. Return of Partnership Income For calendar year 2011, or tax year beginning ▶ OMB No. 1545-0099 , 20 . , 2011, ending See separate instructions. 2011 35-4545454 01-15-2008 Name of partnership D Employer identification number ZLW GP C Business code number Print or type. Number, street, and room or suite no. If a P.O. box, see the instructions. City or town, state, and ZIP code E Date business started Miami, FL 33146 F Total assets (see the instructions) $ 3301467 Amended return G H I J (1) (2) (3) Initial return Final return Name change (4) Address change (6) Technical termination - also check (1) or (2) Other (specify) ▶ Check accounting method: (1) Cash (2) Accrual (3) Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year ▶ 2 Check applicable boxes: Check if Schedules C and M-3 are attached . . . . . . . . . . . . . . . . . . . . . . (5) . . . . . . Caution. Include only trade or business income and expenses on lines 1a through 22 below. See the instructions for more information. Merchant card and third-party payments (including amounts 1a reported on Form(s) 1099-K). For 2011, enter -0- . . . . 4173585 b Gross receipts or sales not reported on line 1a (see instructions) 1b 4173585 c Total. Add lines 1a and 1b . . . . ...
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...Form Department of the Treasury Internal Revenue Service A Principal business activity 1065 U.S. Return of Partnership Income For calendar year 2013, or tax year beginning ▶ OMB No. 1545-0099 , 20 . , 2013, ending Information about Form 1065 and its separate instructions is at www.irs.gov/form1065. Name of partnership 2013 12-3456789 D Employer identification number Manufacturing B Principal product or service Walk Upright Company Type or Print Number, street, and room or suite no. If a P.O. box, see the instructions. E Date business started Walking Poles C Business code number 58 Trekkers Point City or town, state or province, country, and ZIP or foreign postal code F Total assets (see the instructions) $ 339900 G H I J Check applicable boxes: Fort Collins, CO 80521 599,999 Amended return (1) (2) (3) Initial return Final return Name change (4) Address change (6) Technical termination - also check (1) or (2) Other (specify) ▶ Check accounting method: (1) Cash (2) Accrual (3) Number of Schedules K-1. Attach one for each person who was a partner at any time during the tax year ▶ 2 Check if Schedules C and M-3 are attached . . . . . . . . . . . . . . . . . . . . . . (5) . . . . . . Caution. Include only trade or business income and expenses on lines 1a through 22 below. See the instructions for more information. 1a b c 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16a b 17 18 19 20 21 22 1a Gross receipts...
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...Partnership and it’s relevance in Bangladesh Introduction Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace. In the most frequently associated instance of the term, a partnership is formed between one or more businesses in which partners (owners) co-labor to achieve and share profits and losses (see business partners). Partnerships exist within, and across, sectors. Non-profit, religious, and political organizations may partner together to increase the likelihood of each achieving their mission and to amplify their reach. In what is usually called an alliance, governments may partner to achieve their national interests, sometimes against allied governments who hold contrary interests, such as occurred during World War II and the Cold War. In education, accrediting agencies increasingly evaluate schools by the level and quality of their partnerships with other schools and a variety of other entities across societal sectors. Partnerships also occur at personal levels, such as when two or more individuals agree to domicile together, while other partnerships are not only personal but private, known only to the involved parties. Partnerships present the involved parties with special challenges that must be navigated unto agreement. Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and succession...
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