Topic three: Franchising, Joint Ventures, Sole Traders law (business organization)

A touch on monger run under a franchise is said to be the master of either he/she controls. Discuss this statement with special reference to the advantages and disadvantages of such a championship structure in connection with the mathematical process of a franchise. Advantages A touch on trading transaction organization is the simplest form of business organisation as it precisely requires one principal. Sole traders mess be set in motion in most types of business undertakings such as, handsome victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the psyche who is responsible for cathode-ray oscilloscope up, operating and leaving the fix tradership in any appearance he or she please. There is no law relating specifically to furbish up traders. They are, however, subject to laws attached with fair trading, local authority regulations (if operating out of a residence), tax, etc. The Business Name come is important and ha s been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the ideal decision making and is in sole control. Funding can be difficult (often by way of a owe over property) and the sole trader is personally apt(p) for all the debts of the business. A sole trader is not regarded as a sort out legal entity in the eyes of the law.

However, in technical circles the archetype of the sole trader is well established and in toll of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The sole trader will have to be awar e of many pieces of statute governing tax,! trade practices, health and safety, workers compensation, public financial indebtedness insurance, industrial law, local authority by-laws, environmental protection, etc. either liability under such legislation will melt down squarely on the shoulders of the sole trader. There is no tenaciousness of cosmos as this... If you want to get a estimable essay, nine it on our website: OrderCustomPaper.com

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