Limited Liability and Partnership Corporation Essay

Limited Liability and Partnership Corporation - Essay Example This stipulation becomes of significant value when the company defaults or files for bankruptcy subsequently initiating a liquidation process. 2) Auditing Ease: - Limited liability companies require much less paperwork and bookkeeping than corporations. Also some of the standard laws of the company’s ordinance applicable on corporations do not apply on limited liability companies such as annual general meeting, appointment of directors, annual reports, etc. 3) Advantageous Tax Treatment: - A limited liability company has the privilege of being taxed as a sole proprietorship, partnership or a corporation. This fact is of significant value as several entities may chose different options depending on the state tax laws in place. 4) Avoiding Double Taxation: - Unlike corporations, Limited liability companies do not have to face double taxation, although the shareholders have limited liability. In corporations, taxes are applicable at the corporate level first and then at the share holder level. Such is not the case with a limited liability company (Jitman, 2009). ... This fact does not allow a limited liability company to gauge loans or investments easily as most lenders seek personal assurances in case of default which defeats the purpose of LLC. 2) Managerial Difficulties: - This new form of the business organization is understood by most stakeholders involved initially which results in managerial difficulties in determining the chain of command to people within and outside the organization. Creditors are reluctant to lend as they do not quite understand who is responsible. (Mclaney, 2009) Partnership Introduction: - A partnership is an association of individuals or an unincorporated company that is formed by two or more persons, created by agreement along with proof of existence and personal liability of owners in case of default or liquidation of the company (Mclaney, 2009). Partnerships are characterized by intricacies in terms of defining relationships between partners themselves and relationship of the partnership company among the outside world. The problem of relationship between the partners is sorted out with a legal binding contract that lays down the framework of the company along with individual and collective responsibilities. Members in a partnership can stretch from 2 to 20 depending on the need of capital and other necessities of the business (Jitman, 2009). The assets of a business are owner by the partners and the partners are jointly or severely responsible for fulfilling liquidation clauses and terms in case of default, including keeping their personal assets at stake for paying creditors. Each partner is deemed to be an agent of the business hence if a partner is carrying out business related

The challenge of police leadership Research Paper

The challenge of police leadership - Research Paper Example amongst the team, the importance of empowering employees, the importance of making decisions with consensus, and the importance of the implementation of actions in the transparent way is highly important for becoming successful leaders. The police department also needs good leadership skills to control the law and order in the society and community (Tully 1999). The leadership skills required by the police force of any country are faced by many challenges. The biggest challenge is to control the people and make sure that everyone obeys the law. Those that are violating the laws need to be dealt in a stern way by the police (Tully 1999). Challenges with police leadership also lie in controlling the performances of the employees and delegating those tasks according to their potential and ability. The police leaders also need to control their subordinates in an effective manner so that all the subordinates conduct their duties in the manner required. Delegating orders to the subordinates by the leaders of police is a very commanding and autonomous task. It needs to be conducted with careful reviews so that all the goals and objectives are attained successfully by the department of police (Guest 2002). The leaders need to ensure that commitment and dedication is present in the employees of the police department so that when critical tasks are assigned to them, it can be ensured that the task will be carried out well by the employees. The leaders need to listen to the problems of the subordinates and other employees. If employee problems and views are considered there are high chances that successful police leadership can be attained as all employees would be willingly working hard to achieve successful results (Gilmartin and John 1998). There are ethical challenges faced by the police leadership. Bribery is one of the common things observed in the police departments. The leaders of the police department should ensure that they don’t get involved into any

The Mexican Revolution of 1910 Essay Example | Topics and Well Written Essays - 1250 words

The Mexican Revolution of 1910 - Essay Example erefore, the themes of the revolution were to end dictatorship and institute land reforms, summarized in the terms ‘land belongs to those who work in it’ (Gonzales, 47). The story of the revolution that can be seen through the lens of these sources is that of a people putting their foot down and demanding a change that would see the actual people who labored in the farms reap the benefits of their sweat and labor, at the expense of the landowners benefiting from the same. The revolution was largely sparked by a plan written by Francisco Madero, an exile political activist living in Texas US in 1910, on how the dictatorial government of the then president Porfirio DÃ ­az would be removed from office (Madero, 732). This document inspired many rebels and intellectuals who were opposed to the dictatorial rule of Diaz that had violated the Mexican constitution of 1857, thus the rebels decided to take up arms. Led by a rebel leader, Francisco Villa from north Mexico, the rebels took up arms and started the struggle from the northern states. It is the success of the northern rebel troops that inspired the outbreak of armed struggle throughout the country, with the south Mexico rebels, led by Emiliano Zapata from the south starting their struggle. Thus, realizing that things were going terribly wrong, the dictatorial president, DÃ ­az, resigned and fled the country on may 1911 (de Fuentes, n.p.). This was the hallmark of the revolution, which nevertheless continued throughout the decade ending the 1920s. The notable social cause of the Mexican Revolution of 1910 was the lack of voice of the people in the leadership of the country. Thus, social welfare of the Mexican was largely denied, with the freedom of press and education that forms essential social platform for a free society, being greatly restricted to the poor and the peasant Mexicans (Coerver and Hall, 22). The government of President Diaz had come into power through a coup, and then it consolidated power

Social economics Essay Example | Topics and Well Written Essays - 2000 words

Social economics - Essay Example Improving the social being is one of the prime concerns of the governments and devotes a lot of interest to achieve economic prosperity. But economic prosperity may not bring improved social well being for all as well being is not directly related to income. The aspects of social capital can act to reduce transaction costs and also encourage behavior and trust. The different sources within the community can be thought of as the origination of social capital. Social capital can operate and emerge in families and educational institutions and also in business and local community. Social capital can have both positive and negative impacts on the society. On the one hand it creates social division and on the other leads to social and economic well being at least for some sections of the society. There are mainly five mechanisms by which social capital can affect the outcomes. A distinction can be made between the formal and informal forms of social capital. Formal social capital refers to patterns of behavior, exchange norms, networks which are formally defined. The networks operating outside this formal system refer to informal social capital. The usefulness of this distinction lies in illustrating the problems arising in operations of social capital. The first kind of social capital can be found in the extent of civil society while the second form can be difficult to find as it requires household surveys. At the national level poverty refers to a country’s lack of resources necessary towards education, health and infrastructure. This may give rise to political unrest. In the developed countries poverty is one of the social problems. Poverty alleviation has been one of the guiding principles for most of the governments. The role of economic growth and development in creating employment avenues has clearly been recognized. Some specific sectors have been chosen by most administrations and growth oriented approach has been undertaken.