Commercial Essay

In partnership, company are claimed and keep running by individual accomplices who are actually and together in charge of the activities of their kindred accomplices which somewhat represents the significance of a partnership assention or deed . Partnerships don't need to distribute or review their records, however expansive they get, despite the fact that there is a move towards expanded straightforwardness.

When it comes to partnerships Alex, Bill, Carl, and Devon will have two options- a general partnership or a limited partnership. Partnerships are beginning to be a business form of the past. Once upon a time, partnerships were “the default form of business and provided the benefit of pass-through taxation, but lacked the important feature of limited liability” (Chrisman, 2010, p. 465). In a general partnership, each partner associated with the entity will be held liable for their own business decisions as well as

3.2 Powers. The Partnership shall have the following powers: 1) to conduct and operate the Partnership business; 2) to execute necessary business documents including notes, leases, service contracts, etc; 3) to open bank

The commercial starts off with a blind beggar with a sign asking for money, trying to appeal to someone’s sense of pity with a sign pointing that out, and him not receiving much money, because of what we can only assume to be the general rule of thumb that states that people in commercials only show kindness in the latter half of the commercial. A young man comes up, writing something that remains unseen to the audience on the unused side of the board, which seems to catch people’s attention more and thus leads to him receiving more money. When the young man comes again, stopping for just enough time for the blind beggar to recognize him merely by his pants and shoes, he asks what he wrote on his sign, and the man responds with a general brushing aside of the question, replying with “I just rephrased your sign a bit.”, and by then the camera pans on to the sign, which says “The day is so lovely, shame I can’t see it.”

Our thirty-second commercial will run on the Munhwa Broadcasting Corporation. This station has the highest viewership. The commercial will feature the Soy Bear mascot. The mascot will run around urban centers, being chased by some youth and young adults. The commercial will show them all laughing and enjoying catching the Soy Bear mascot. Once caught, Soy Bear will bring the chasers back to one of our stores and hand out our ice cream. This advertisement will show our company's sense of fun, the store’s social area and promote an active, healthy lifestyle.

Partnership is unlimited liability, which means that the business is personally liable for the debts. This means that if the business can’t pay someone or pay its own debt, the partners will have to use its own personal money.

The test for the existence of a partnership should be applied, the definition of a partnership, the s5 of Partnership Act 1891 (Qld) states “Partnership is the relation which subsists between persons carrying on a business in common with a view of profit.” To further break down this definition and determine what is meant by the terms “carrying on business”, “business in common” and “in common with a view to profit”. The dictionary of the Partnership Act 1891 (Qld) defines a business as “including every trade, occupation and profession”. The term ‘carrying on business” can be determined by looking at precedent see Smith v Anderson 18801, in this case the court found “The expression ‘carrying on’ implies a repetition of acts or transactions. The next issue to determine is the phrase ‘in common with a view to profit”. To break this down we look for the

A Partnership is a business formed and operated by more than one person and less than a certain amount of people together with the objective of making profits . James LJ in Smith v Anderson (1880) 15 Ch D 247 at 273 saw the concept in the following way: “An ordinary partnership is a partnership composed of definite individuals bound together by contract between themselves to continue combined for some joint object, either during pleasure or during a limited time, and is essentially composed of the persons originally entering into the contract with one another.” A corporation which is also named as company is an artificial legal person separated from their shareholders who own the company and board of directors who runs the company . The biggest difference of a company compared to a partnership is that although shareholders can be the owner of the company by purchasing its share, company owns its debts and assets as a legal person where a partnership is not a separate legal entity.

Under section 1(1) of the Partnership Act a partnership can be defined as the relationship between persons carrying on a business with a common view to profit. These are elements that need to be satisfied for a partnership to exist under the principles of law. Section 1(B)(1) outlines that a business includes any trade, occupation or profession and under Hope v Bathurst the business is considered a commercial enterprise with a going concern. The act of ‘carrying on’ expresses that there is an implied consistency or repetitions of transactions that relate to the business. The term in common refers to the intention of the persons carrying on the business for the common benefit of all. The definition also refers to the view of profit which means the businesses objective is to make profits. Each of these elements appears to have been met for all parties. The restaurant is a business that will have the intention of continuing, with all members acting for common benefit evidenced by the fact they all entered into an agreement for the business. Also with a view to profit as profits are shared equally.

An American entertainer, Will Rogers, once said, “Advertising is the art of convincing people to spend money they do not have for something they do not need” (Web). This is the power of the advertisement; it has a power to persuade people even though it might not be on their shopping list. Hundreds of advertisements are put in to our brains every day of our lives, but out of those hundreds of advertisements, how many of them cross your mind when you buy something? There are different types of advertisement out there, such as television commercials and radio commercials that try to catch many minds of audiences; however, the most fascinating type of advertisement has to be the rhetoric advertisement. A rhetoric

     School, family and church all have an effect on teenagers, but nothing will ever measure up to the effect that advertising has on our nation’s youth. The advertisements

A partnership consisting of two or more persons, with at least one general partner and one limited partner Limited Liability Partnership (LLP) A partnership where the individual partner’s own liability is generally limited Company A business form which is a legal entity separate and distinct from its shareholders and directors Owned by One person Generally between 2 and 20 partners. A partnership of more than 20 partners must incorporate as a company under the

Partners are joint and severally liable for partnership debts. Thus if one partner engages in an activity which results in large debts, all partners, regardless of whether or not they had prior knowledge of the activities would be equally liable to make good any shortfall in funds from their personal assets. A private limited company is a legal entity, the company’s finances are separate from its owner’s finances.(case Salomon v Salomon & Co) .One further difference between a partnership and a limited company is the way in which each is taxed. A company pays tax on its profits and directors are taxed on what they receive in remuneration from the company, are subject to lower corporation tax .A partnership on the other hand is not taxed in its own right as a company is (a partnership is not a separate legal person). Instead each of the partners is taxed on their share of the profit. At the end a private limited company must keep accurate records and usually deliver accounts to the Register while in partnership partners do not have to send their accounts.

Another characteristic that belongs to partnership is the division of profits or losses. It is not essential that all the partners must share the losses also. There may be a provision in the partnership deed that a particular partner or partners shall not bear losses. The profit is arrived at after providing for salaries to the partners and interest on capital, if agreed and stated in the agreement. That last but not least feature of partnership is about the business management. Firstly, it is specified that all general partners are entitled to act as legal representative of the partnership in carrying out business activities. Any restriction applicable to general partners in relation to conducting day-to-day business activities of the partnership will be effective to the third party if this party is informed. Secondly, general partners will agree on division of their duties in relation to management and running of the company. If a business activity is carried out by several partners, the decision will be adopted on the principle of majority. Additionally, the partnership will not be liable to any activity that is conducted by general partner and outside the scope of business activities of the partnership, unless otherwise agreed by the partners. Thirdly, the partnership can open one or several accounts with a bank. The partners’ council will appoint one partner who is required to deposit and withdraw money from those accounts. Lastly,

It can be assumed that in deciding the structure, the features of the two types of companies and both the positive-negative perspectives of them were given attention before the final mind set. On one hand, the salient features found under the Partnership heading were as follows: