Thursday, August 29, 2019

Answer the 3 questions Essay Example | Topics and Well Written Essays - 500 words

Answer the 3 questions - Essay Example Deed of Partnerships is a document made by the partners and signed by a solicitor thus helping in setting up of partnerships. The Deed sets out the binding and legal relationship between the partners. Profits sharing and responsibilities of each and every member are stated in the Deed. Traditionally, partners had unlimited liability (Harris 2001, p.23). This meant that they were jointly responsible for the debts of their partnerships. This however changed in 2001 and it led to some large firms like the accountancy to have limited liability. A good example of a partnership is the Wright, Brown and Ali L Partnership. Companies are also another form of business forms. The people that own companies are the shareholders. Each and every shareholder in a business is responsible for the debts in the business up to the sum they have contributed should the company run up debts (Harris 2001, p.45). Various documents for example a Memorandum and Articles of Association are required for a company to register. The registration is done at the Companies House found in Cardiff. Example of companies includes Marks and Spencer, BP and many more. There are two types of companies namely public limited company and the private limited company. Public limited companies are those companies which are listed in the stock exchange. The financial records of public limited companies are always open to the public (Harris 2001, p.37). Examples include Tim Horton’s and many more. Private limited company on the other hand is a business company incorporated as an independent retailer in a market place. The shareholders have limited liabilities and mostly the shares are not open to the public. A good example is the PLC. Marketing communications proportional mix is a broad terms that is used to describe a set of tools that a business can use in the process of communicating effectively its products or services to the clients. The proportional mix is inclusive

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