Partnership in Business and Its Types Partnership: Partnership implies shared ownership where two people or more share the ownership of a single business. The partners don’t just share the profits and losses of the business but contribute to each and every aspect of the business, whether it is the money, resources, labor or even skills. Since … Read moreBusiness Partnership types and their pros and cons.
What is a sole proprietorship? What are its advantages and disadvantages? Sole proprietorship is the most common form of business. It is also the simplest structure and the one that is the easiest to start, usually requiring no or scarce formal action. The most important feature of a sole proprietorship is that there is no distinction … Read moreWhat is a sole proprietorship? What are its advantages and disadvantages?
Reasons behind the fall of Kodak Kodak had a magical rise but an even disastrous fall . It was the leader in photography business, but even the giants fall to the blow of time and while significant changes occurred around, Kodak remained stuck. The company was unwilling to change and there were many reasons behind it. … Read moreKODAK’S FALL: WHERE IT FAILED TO TAKE THE DIGITAL CHALLENGE
Elements in a legally enforcable contract Contracts: Contracts are a very important part of business agreements. Before two parties form an agreement it is essential that they know their duties and benefits well. Each party is required to perform its duty. Contracts are promises that are enforceable by law. Two parties are believed to have contracted if they form a legally … Read moreCONTRACT ELEMENTS
Explain Subrogation in an insurance contract. Subrogation in its most common form can be understood as substitution. In simper words it is the substitution of the insurer to the insured’s rights. The question is ‘why this substitution’. It is because the first party, the insurer made a payment to the second party, the insured and for … Read moreStudy Notes