...which type is best for you. Each type is best for a specific purpose or situation, relating to taxes, liability, and your ability to control the profits and losses of the business. Sorting out the acronyms can be tricky, but this run-down will help. 1. Sole Proprietorships A sole proprietorship is a business operated by one individual; the business is considered part of the individual, not a separate entity. The business profits and losses are included on the individual's personal tax return, and the individual retains personal liability for the business debts and lawsuits. 2. Corporations A corporation is an entity which is separate from its owners. The corporation is formed under the laws of the state in which it is operating, with Articles of Incorporation. 3. Subchapter-S Corporations (S-Corporations) A subchapter-s corporation (or s-corp) is a corporation which has the benefits of limited liability of a corporation but which is taxed as a partnership, with the income or losses flowing through to the individual shareholders. 4. Professional Corporations (PCs) A professional corporation is a specific type of corporation for professionals, such as attorneys, doctors, architects, and accountants. In some states, these professionals can form a corporation, but with the distinction that each professional is still liable for his or her own wrongful professional actions. 5. Partnerships A partnership is a business entity with individuals who share the risk and benefits of...
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...Solicitor General, of counsel, Eliot Spitzer, Attorney General of the State of New York, on the brief), Office of the Attorney General of the State of New York, New York, NY, for amicus curiae Eliot Spitzer, Attorney General of the State of New York.Catherine K. Ruckelshaus (Laurence E. Norton, II, Amy Sugimori, of counsel), National Employment Law Project, Inc., New York, NY, for amici curiae Asian-American Legal Defense and Education Fund and National Employment Lawyers' Association. This case asks us to decide whether garment manufacturers who hired contractors to stitch and finish pieces of clothing were “joint employers” within the meaning of the Fair Labor Standards Act of 1938 (“FLSA”), 29 U.S.C. § 201 et seq., and New York law. Plaintiffs, garment workers in New York City who were directly employed by the contractors, claim that the manufacturers were their joint employers because they worked predominantly on the manufacturers' garments, they performed a line-job that was integral to the production of the manufacturer's product, and their work was frequently and directly supervised by the manufacturers' agents. The manufacturers respond that the contractors, who, among other things, hired and paid plaintiffs to assemble clothing for numerous manufacturers, were plaintiffs' sole employers. Both plaintiffs and the manufacturers moved for summary...
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...A. Overview of Intellectual Property (Book 24-30) 1. TRADE SECRETS (Outline pgs 3-11) ▪ Trade secret laws are State law doctrines that protect against the misappropriation of certain confidential information. o There is no federal statute ▪ A form of private IP law under which creators establish contractual limitation or build legal fences that afford protection from misappropriation. ELEMENTS: a. The information must be Secret. a. Relative, not absolute, secrecy is required. b. The owner must take Reasonable step to maintain secrecy. a. Once a trade secret is disclosed, protection is lost. c. There is some economic or competitive advantage to the owner. i. Misappropriation of Trade Secret: 1) Where the secrets were obtained by theft or other improper means. 2) Where they were used or disclosed by the D in violation of a confidential relationship. ▪ Trade secret does not prevent competitors from “reverse engineering” which is permitted. 2. PATENTS (Outline pgs 12- 31) a. 5 Requirements: 1) patentable subject matter (g.15) 2) utility (pg.16) 3) Description & Enablement (pg.17) 4) novelty & Statutory bar (pg.19) 5) non-obviousness...
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...undue risk or hazard to an employee before, during and after an employee’s shift should be refused at all times (Worksafe BC, n.d.). This is the approach that an organization should adopt to ensure the safety of employees as well as the protection from liability. At PBJK Burgers there is an absence of a work refusal policy and procedure, essentially making the company not in compliance with the Occupational Health and Safety Regulation of BC,(“OHSR”). As a result of this from a human resource professional perspective the following key issues were identified that PBJK Burgers needs to ensure: • Supervisors are equipped with the knowledge and skills to deal with unsafe work refusals. • Employees are trained on identifying unsafe hazards. • PBJK Burgers must have a work environment culture that cultivates support regarding refusals. With this in mind the reference manual aims to ensure the above is achieved and answered. Through research with Worksafe BC and a risk assessment it was identified that the following were common hazards at PBJK Burgers: slips, trips, falls, burns musculoskeletal Injuries, improper lifting/use of equipment and cleaning agents. This creates a medium to low risk, but without a policy or procedure leaves the company susceptible to loss. The loss could include negative impacts such as, brand damage, penalties, low employee morale, low productivity, higher injury rates and thus increased premiums. Building on this our analysis highlights the importance...
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...Introduction: An ultimatum. “Start a business or go to college.” This was the advice given to Jerry and Janie Murrell’s four sons. Soon thereafter Five Guys Burgers and Fries was born. The Murrell family opened the restaurant in Arlington, Virginia in 1986, quickly becoming an institution in the area. From 1986-2001 the Murrell family business went from one location to five in the Washington – DC metropolitan area. In 2003 the Murrell’s decided to give franchise opportunities and have exploded nationally, becoming America’s Fastest Growing Fast-Food Chain. In this analysis I will determine the Five Guys philosophy and differentiating factors from its competitors. I will also analyze the firm’s original values, and other factors that have contributed to its explosive success as a start-up and over the last 10 years. The Philosophy and Original Values The philosophy of Five Guys Burgers and Fries has been to “sell a really good, juicy burger on a fresh bun. Make perfect French fries. Don't cut corners. (Welch)” Five guys competes in what is known as the fast-casual restaurant market. This is a mix of the traditional fast-food / quick service restaurant like McDonalds and more casual dining entities such as Applebees. By focusing on quality as a primary driver rather than speed it creates a sub-set within the restaurant industry. Five Guys has a very a limited menu and focuses its attention towards creating the highest quality burgers and fries at a reasonable price point. Jerry...
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...Executive summary The life insurance industry in India is achieving a growth rate of about 4% annually. It is considered to be one of the fastest growing sectors. The changing socioeconomic demographics and consumer behavior along with increased frequency of natural calamities and disasters have been the main reasons for the growth of this Industry. Its assets as on 31.03.08 were valued at $185 billion with a total of 250 million policies sold and an employee turnover of 113000 and about 1.2 million agents. There are currently 22 life insurance companies with LIC being the only public company having a market share of almost 50%. ICICI comes in second with 10% followed by HDFC at 6%, SBI at 5%, Bajaj at 4%, Reliance at 4%, Birla at 4%, Max 3%, Tata 3%, Kotak 2%, Met 1% and the rest taking up 10% of the market share. As of 2006 FDI norms the foreign participation of Indian insurance companies is restricted to 26%. All the life insurance companies of India have to comply with the strict regulation laid out by the ‘IRDA’ which is the insurance regulatory board in India set up in 2000. The majority of the population in India is yet to be tapped leaving a huge growth potential for this industry. The insurance industry in India is both service based as well as product based. Risk management and product development are the main highlights of R&D in this industry. The life insurance industry is re shapping the retail distribution channel. The life insurers engage with prospects...
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...BALANCE SCORECARD INTRODUCTION: A Conceptual Framework for Managing Lodging Brands: A Balanced-Scorecard Approach Abstract: The issue of brand management remains a formidable challenge for lodging organizations and lodging brand managers. This challenge is partly due to the fact that effective brand management requires an all-inclusive and comprehensive organizational approach. This paper proposes a framework that uses the balance scorecard (BSC) as the basis for brand management. The framework proposes both a proactive and reactive approach to brand management through the use of performance measures or perspectives, which form the underlying components of the BSC. These are the financial perspective, the customer perspective, process perspective, and the learning perspective. The paper enhances and expands this BSC framework by including a brand maintenance and enhancement component. The concept of balance scorecard was introduced by Kaplan & Norton (1992, 1996, 2007) and they argued that that balance scorecard is a useful tool that tells managers how organization is performing in relation to strategic objectives of organization. Kaplan & Norton(1992) state the four perspectives which are financial perspective,customer perspective,internal business process perspective and learning and growth perspective.These four perspectives are used by managers in order to measure and analyze information. Kalpan and Norton explain these four perspectives which are effective...
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...The Development of Piercing Veil in Chinese Corporate 1. Introduction of “Piercing the Corporate Veil’ The corporate law doctrine of ‘Piercing the Corporate Veil’ is a longstanding feature of the corporate law of shareholder’s capital contribution in which a corporate shareholder or director is held responsible for the liabilities or debts of a corporation in excess of their capital contributions. Corporation law issues this concept between a corporation and its shareholders that protects shareholders from liability for a corporation’s actions because a corporation is legal entity separate from its shareholders. Once shareholders have made their promised capital contributions to the corporation, they have no further financial liability and corporate debts in excess of their investment in the corporation. Creditors seeking payment of debts or tort victims seeking redress generally can reach only the corporation’s assets, not those of its shareholders. However, courts generally ignore this corporate fiction and treat a corporation’s debt as the debt of the corporation’s shareholders. In doing so, courts “pierce the corporate veil.” Once “pierce the corporate veil authorized by court, contracts of a corporation are not debts of its shareholders. Nonetheless, in order to promote justice and to prevent inequity, courts will sometimes ignore the separateness of a corporation and its shareholders by piercing the corporate veil. The primary consequence...
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...MEMORANDUM DATE: November 29, 2010 TO: James Martin, Director of Human Resources FROM: Name, Assistant Director of Human Resources SUBJECT: Wellness Program Recommendations for Technicraft, Inc. Attached is the report on the implementation of corporate wellness programs. Due to rising health benefit costs and a rising number of health benefit claims, you requested that I investigate the implementation of corporate wellness programs as a way to reduce company costs. In order to determine whether it would be possible to improve employee health and lifestyle habits, while also cutting company costs, I analyzed the results that several companies had after launching their own wellness programs. I also considered and researched the potential disadvantages of implementing a wellness program. After a thorough investigation of all of these factors, I recommend that Technicraft, Inc. implement a corporate wellness program in order to improve employee health and productivity and reduce or stabilize company health benefit costs. I have enjoyed researching this topic and would like to meet with you to discuss my recommendation. I will call you early next week in order to schedule a meeting time or you may contact me at extension 5555. WELLNESS PROGRAM RECCOMMENDATIONS FOR TECHNICRAFT, INC. Prepared for James Martin, Director of Human Resources Technicraft, Inc. 4501 West 92nd Street Indianapolis, IN 46260 Prepared by Name, Assistant Director of Human...
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...Banking Academy | City University of Seattle | TAXATION PERSONAL INCOME TAX IN THE UNITED STATE Group’s member:Nguyễn Như Nam (C)Phan Thu AnNguyễn Thùy DungHoàng Bá SơnNgô Thị Ánh TuyếtDate: 15/12/2014 | Table of Contents PART 1. The review on the tax system in the United States 2 1. The tax administration system in United States 2 2. The tax policy system in United States 3 PART 2. The review of the main content of the tax laws 5 I. The scope of application 5 1. Taxable incomes 5 2. Non-taxable 7 3. Payers. 7 II. The taxation bases 9 III. The tax calculation method 10 1. Gross Income 10 2. Adjusted gross income 17 3. Tax Credits 17 4. Tax Rates 20 5. Deductions and exemptions 22 IV. Tax declaration, submission and refund 32 1. Declaration 32 2. Submission 33 3. Refund 34 REFERENCES 36 PART 1. The review on the tax system in the United States Taxation is an important for each country. Taxation provides a material to distribute economic resources towards those with low incomes or special needs. Taxes provide the revenue needed for critical public services such as social security, health care, national defense, and education. 1. The tax administration system in United States The U.S. system of tax administration is based on the principle of self-assessment. In a self-assessment system, taxpayers calculate and pay their own taxes without the intervention of a tax official. If this is not done appropriately...
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...America Invents Act of 2011: Analysis and Cross-References Donald S. Chisum Co-Founder and Lecturer, Chisum Patent Academy ChisumPatentAcademy.com December 5, 2011 SYNOPSIS § 1 Introduction § 2 Overview, Organization and Citation Form § 3 First Inventor to File 3.1 Effective Date; Two Patent Laws for Decades 3.2 "Sense of Congress"; Justifying Conversion to First-to-File; Certainty; Harmonization; Grace Period Difference 3.3 New Section 102 on Novelty 3.3.1 Retained Concepts 3.3.1.1 "Patented 3.3.1.2 "Described in a Printed Publication" 3.3.1.3 "In Public Use, On Sale": Is Non-Public Commercial Activity Included? 3.3.2 Omitted Concepts 3.3.2.1 "Known or Used" 3.3.2.2 "In this Country" 3.3.2.3 Invention Dates; On the Continuing Relevance of "Conception" and "Reduction to Practice"; "Who" Problems and "When" Problems; Derivation; Ownership 3.3.3 New or Revised Concepts 3.3.3.1 "Otherwise Available to the Public" 3.3.3.2 "Claimed Invention"; Generic Claims and Specific Disclosures 3.3.3.3 "Effective Filing Date" 3.3.4 Grace Period: Exception for Inventor Disclosures A Year or Less Before Filing 3.3.4.1 Inventor Disclosures; Derivation 3.3.4.2 Prior Disclosure by Inventor 3.3.5 Senior Right 3.3.5.1 Applications Previously Filed by Others as Prior Art; Effective Filing Date; Hilmer Abolished 3.3.5.2 Avoiding Senior Filed Application Disclosure 3.3.5.2.1 Subject Matter Obtained from Inventor 3.3.5.2.2 Subject Matter Previously Publicly Disclosed 3.3.5.2.3 Common Ownership;...
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...we analyze Haier Group’s strategic position and outlook in China’s home appliances industry. By only focusing on the most up-to-date articles and resources available, we have come to the somewhat surprising realization that Haier Group is at the forefront of maturing into a networks platform and a solution provider to an ever-segmented market. While this transformation seemed only logical to any multinational corporation under the sea change brought about by the Information Age and the new paradigm spearheaded by Google and Amazon, Haier Group’s strategic response to what time has called upon them has been quite elusive and subtle. We will demonstrate how Haier Group, with so many success stories from its past, along with the cultural baggage it could evolve beyond, should adapt to the present and fulfill its future promise. PART I. Environmental scanning and industry analysis The STEEP analysis in this section will focus on the most relevant aspects with Haier Group in China: Chinese consumer’s recent socioeconomic development and technological development; the two aspects obviously have huge cultural and political ramification which we also include in the scanning. Toward the end of this section, we will demonstrate these aspects have presented both challenges as well as solutions. 1. Socio-economic facet While we focus our analysis on one single country, China, we have to point out that China is too complex, too multifaceted, and too layered for ONE country, or ONE...
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...Market Competitive Analysis of Texas Instruments Incorporated Richard Horner, Jaclyn Lampton, Renae' Harrison, and Lizbeth Parra ECO/365 September 9, 2013 Prof. Hank Lewis Market Competitive Analysis Businesses across the world experience the pressures of constant evolving technological changes in their industry. The recent economic recession forced many businesses to close. The businesses that survived technological advances, and economic hardship researched the market to develop sustainable marketing strategies. One company managing to stay afloat is Texas Instruments. The organization managed to revolutionize its industry, and its market research enables it to develop competitive products that consumers buy. Consumers across the world prefer companies that offer high quality products and services in a responsible manner at an affordable price. Texas Instruments invests time and money researching consumer behavior to discover what consumers want, and compares this data with other companies to remain competitive. The organization focuses mostly on technological advances and research. The following discussion details an analysis of the current market conditions for the development of a new product by Texas Instruments. History Texas Instruments is best known for its calculators, most people use these calculators in school. The company, established in Dallas, Texas, has 80 years vested in its industry. The organization experienced technological advances including...
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...Technology Training 4 Technology 5 Project Manager Roles 5 Section 2: Security Program 6 Data Classification 6 Management Support 7 Hierarchy Reporting Structure 8 8 Section 3: Security Policies 10 Acceptable Use Policy 10 1. Overview 10 2. Purpose 10 3. Scope 11 4. Policy 11 5. Enforcement 13 6. Definitions 13 7. Implementation Date 13 Section 4: Security Policies 14 Risk Assessment 14 Quantitative Risk Analysis 14 Quantitative Risk Analysis 14 Methodologies 15 1. Transfer 15 2. Avoid 15 3. Reduce 15 4. Accept 16 Summary 16 Section 5: Controlling Risk 17 Administrative 17 Human Resources 17 Organizational Structure 17 Security Policies 18 Technical 18 Access Control 18 System Architecture 18 System Configuration 18 Physical 19 Heating and Air Conditioning 19 Fire 19 Flood 19 Summary 19 Bibliography 20 Section 1: Information Security Management Intro to Organization My organization is about a federally recognized business called JPPSO (Joint Personnel Property Shipment Office). JPPSO specializes in the shipping of military personnel goods. JPPSO works hand in hand with the United States Air Force to enforce the safe shipping of military household goods. People * DOD * Active Military * Janitorial Workers Physical Security The physical security of this environment starts off with all authorized individuals will hold a CAC government ID, authenticated PIN for CAC, and...
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...Executive Summary The project is based on human resource management of Ufone GSM, which is a subsidiary of PTCL. This brand came into existence after Paktel, which was introduced in 1990’s in Karachi. Ufone made itself prominent in a very short span of time. Its progress has been commendable and its customer focus strategy led to the very famous slogan; i.e. “It’s all about ‘U’”. The organization is successfully accomplishing its mission to sustain customers and becoming the best option for them through various goals and objectives. These goals and objectives are required some strategic planning which has been discussed further in the report. The main content of the report comprises of the human resource management at Ufone. Ufone has a very organized HR department as it has to have the right people for the respective jobs. Their recruiting and selection methods, training and development and compensations are well managed by the HR department. Coming to the end, recommendations are there but the company is said to practice all the recommendations already. All it has to do is to keep doing what it is doing and do it even better. Company Profile Brand Name: Ufone OR Pak Telecom Mobile Limited Company: Pakistan Telecommunication Company Limited Current Owner: Emirates Telecommunication Corporation Group (Etisalat) Head Office: 13-B, F-7 Markaz; Islamabad Location in Sialkot: Plot # 2 Bungalow# 109, Aziz Shaheed Road, Saddar Bazar, Sialkot Cantt. Commencement:...
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