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

A touch on bargainer run under a franchise is said to be the master of totally he/she controls. Discuss this statement with special reference to the advantages and disadvantages of such a championship structure in connection with the unconscious process of a franchise. Advantages A touch on trading assembly line organization is the simplest form of business organisation as it only requires one principal. Sole traders pot be set in motion in most types of business undertakings such as, petty victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the respective(prenominal) 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 machine-accessible with fair trading, local authority regulations (if operating out of a residence), tax, etc. The Business Name com e is important and has been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the wide-cut 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 depart legal entity in the eyes of the law.

However, in technical circles the pattern of the sole trader is well established and in scathe of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The sole t rader will have to be aware of many pieces ! of jurisprudence governing tax, trade practices, health and safety, workers compensation, public financial agreement insurance, industrial law, local authority by-laws, environmental protection, etc. either liability under such legislation will pretend squarely on the shoulders of the sole trader. There is no perseverance of cosmos as this... If you want to get a skilful essay, nine it on our website: OrderCustomPaper.com

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