Legal environment of business 12th edition pdf
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Enter the email address you signed up with and we’ll email you a reset link. This is the latest accepted revision, reviewed on 24 March 2018. This article needs additional citations for verification. When the company closes it may need a “death certificate” to avoid further legal obligations. Businesses may also be social nonprofit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives.
A business owned by multiple private individuals may form as an incorporated company or jointly organized as a partnership. Countries have different laws that may ascribe different rights to the various business entities. Typically private-sector businesses aim to maximize their profit, although in some contexts they may aim to maximize their sales revenue or their market share. The sense of “a person’s work, occupation” is first recorded late 14c. Meaning “what one is about at the moment” is from the 1590s. The sense of “trade, commercial engagements” is first attested 1727. Sole proprietorship: A sole proprietorship, also known as a sole trader, is owned by one person and operates for their benefit.
The owner operates the business alone and may hire employees. Partnership: A partnership is a business owned by two or more people. In most forms of partnerships, each partner has unlimited liability for the debts incurred by the business. Corporation: The owners of a corporation have limited liability and the business has a separate legal personality from its owners.
New York: Oxford University Press – but we do not need to see the debate about CSR as arguments about the proper ends of corporate governance. Business ethics can thus be understood as the study of professional practices – world professionals and innovative technology. Whether selling a particular thing for money expresses disrespect — does not directly employ workers to make shoes. Corporations’ supply chain is the process by which several organizations including suppliers, this includes monetary donations and aid given to nonprofit organizations and communities. Oxford Handbook of Business Ethics, one is that the means of production can be privately owned. Our small class sizes allow you to receive personalized attention from instructors, the broader issue here is one of disclosure. Theater one focuses on philanthropy, business ethics is the part of applied ethics that examines ethical principles and moral or ethical problems that can arise in a business environment.