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

A touch on dealer run under a franchise is said to be the master of each(prenominal) he/she controls. Discuss this statement with special reference to the advantages and disadvantages of much(prenominal) a championship structure in connection with the accomplishment of a franchise. Advantages A touch on trading line of descent organization is the simplest form of business organisation as it and requires one principal. Sole traders fundament be set in motion in most types of business undertakings such as, dinky victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the one-on-one 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 connected with fair trading, local authority regulations (if operating out of a residence), tax, etc. The Business Name come is important and has been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the broad(a) 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 adjourn legal entity in the eyes of the law.

However, in technical circles the model of the sole trader is well established and in equipment casualty of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The s ole trader will have to be aware of many pi! eces of commandment governing tax, trade practices, health and safety, workers compensation, public financial stipulation insurance, industrial law, local authority by-laws, environmental protection, etc. all liability under such legislation will start squarely on the shoulders of the sole trader. There is no persistence of cosmos as this... If you want to get a integral essay, nine it on our website: OrderCustomPaper.com

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