Entertainment Law

Entertainment Law Assessment Section One: 1. a) Before devising some(prenominal) hasty decisions about starting a immature music production company, Vic must first be advised that there ar various types of line of descent structures in the UK. there is the doctor craftsmanshipr, the partnership and the registered company. The fix principal is an organisation that is have and run by angiotensin converting enzyme individual that has decided to trade under his or her name. It is under this circumstance when the owner has clear control of the channel and all profits rendered are his or hers. The sole trader will provide all start-up crown for the business; this is normally in the shape of a keen-sighted term loan from an outside creditor such as a bank. The owner will assume complete responsibility for any legal liabilities and financial risks of the business, and since he or she is solely nonimmune for any debts that the business incurs, the sole trader may visualise themselves in a position of bankruptcy. Some of the advantages of a sole trader business include, having full control over the business; this means that the owner can confine decisions such as whether or not to expand the company. The sole trader doesnt even have to hire employees if he or she chooses not to, allowing them to personally keep all profits made.

The sole trader also has the benefit of fast decisions; the sole trader does not have to seek agreement from anywhere to make a decision, once the sole trader is happy with his or her choice the verdict is final. Sole traders tend to have a closer relationship with their customers and have the opportunity to offer more than of a personalised customer service as they are the person each customer has contact with. However, there is one major disadvantage to be aware of; being entirely and solely responsible for any failures or loss of currency from the business. The second type of business structure is the partnership. This type of business structure is built up of multiple individuals also know as general... If you want to get a full essay, edict it on our website: Ordercustompaper.com

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