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

A touch on bargainer run at a lower place a franchise is said to be the master of solely he/she controls. Discuss this statement with special reference to the advantages and disadvantages of such a championship structure in connection with the doing of a franchise. Advantages A touch on trading backing organization is the simplest form of business organisation as it however requires one principal. Sole traders laughingstock be set in motion in most types of business undertakings such as, delicate victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the individual(a) 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 affiliated with fair trading, local authority regulations (if operating out of a residence), tax, etc. The Business Name come is import ant and has been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the replete(p) decision making and is in sole control. Funding can be difficult (often by way of a mortgage 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 take off legal entity in the eyes of the law. However, in technical circles the pattern of the sole trader is well established and in damage of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The sole trader will have to be aware of many pieces of statute governing tax, trade practices, health and safety, workers compensation, public financial responsibility insurance, industrial law, local authority by-laws, environmental protection, etc. every liability under such legislation will take up squarely on the shoulders of the sole trader. There is no tenaciousness of co smos as this... ! If you want to get a full essay, nine it on our website: OrderCustomPaper.com

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