SETTING UP A BUSINESS (Business and Management Fda) Essay

SETTING UP A BUSINESS (Business and Management Fda) - Essay Example h a decision, the business owner should consider his or her vision regarding the nature and size of the business, the level of control, the business’s susceptibility to lawsuits and the tax liabilities of each of the structures (Cross et al., 2009, p. 353). In our case, Clare, Jasmine and Sanjita can either decide to form a general partnership, a limited partnership or a corporation. A partnership is a business set-up that is established when two or more people bring their skills and resources together with one goal (Bagley & Dauchy, 2012, p. 287). Notably, a partnership is defined by the Partnership Act as â€Å"a voluntary association of two or more people, each contributing money, skills, labor, property or goodwill as the capital of the new firm† (UK Gov, 1980). A general partnership is a form of partnership where the partners are all fully active each with control within the business. This also makes each one of them fully liable for business debts (Emerson, 2009, p. 267). In reference to Gibson and Fraser (2013, p. 290-94), entrepreneurs would consider a general partnership because each partner has equal authority within the business. This makes each partner partake in decision making within the business. This also implies that every partner acts as an agent to the business and to the other partners. In this case, a partner can transact on behalf of the business and the other associates, thing that would legally bind them (Miller, 2012, p. 387). However, a partner is not authorized to indulge in a business that would have harmful effects to the other partners such as selling the business property without consent of the other associates, sell his or her interest in the organization or admit new partners into the business without the consent of the other associates (Law Commission UK, 2003, s.28 and 29). Another factor that would make entrepreneurs choose a general partnership is the way profits and losses are shared. Unlike other forms of business such as

Reflection Research Paper Example | Topics and Well Written Essays - 500 words - 1

Reflection - Research Paper Example Increasing affordability of the smartphones is the most fundamental factor that has contributed to their growth in Philippines. MP3 players have already reached the stage of maturity in their lifecycle. One of the biggest drawbacks of MP3 players has been their short battery life. In order to sustain their sales in the contemporary age when products that contain the function of MP3 players along with many others of their own are omnipresent, MP3 players need to provide the customers with an added benefit that the new devices have yet not managed to. Extending the battery life of the MP3 players is a potential way to increase their life cycle because most of the new products contain a multitude of features but with a compromise over the battery life. Text messaging has been in use for all kinds of purposes particularly business since the middle of the first decade of the 21st century. To take the text messaging to the next level, mobile companies need to make the text messaging experience more convenient for the customers. Traditionally, customers experience inconvenience in text messaging because they have to deal with very short-sized keypads on the mobiles. Text messaging experience of the customers can be enhanced by enlarging the key boards on the mobile devices. If increasing the size of the mobile devices is difficult for some technical reasons, an alternative solution to it can be manufacturing portable USB keyboards to be connected with the mobile devices. To extend the lifecycle of the pressure cookers, companies need to add useful features to the pressure cookers. Features that the customers would like to see added to the pressure cookers may include but are not limited to the reading of pressure developed inside the pressure cooker varying with time, and the reading of temperature inside the pressure cooker. Pressure and temperature inside the pressure cooker are a key concern in