Legal Issues
...BUS415 Business Law
3-16-08
Table of Contents
Introduction
I. Agency Law
A. Agency Relationships
B. Agent Business Duties
C. Agreement Termination
D. Liability
E. Employment Relationship
II. Business Entities
A. Entity Options
B. Sole Proprietorship
C. General Partnership
D. Limited Partner
E. “C” Corporation
F. “S” Corporation
G. Limited Liability
III. E-Business
A. Electronic Business
B. Supply Chain
C. B2B Supply Chain
Conclusion
In the current global way of doing business today, companies starting out must understand the choices they have such as duties and liabilities involved in Agency Law, the business entity they choose. In today’s market, the company must embrace the Internet using e-business. Agency Law is the relation between agents, principal, and third parties and is an important aspect of conducting business to ensure success. An assigned person acting as an agent should be aware of the potential to create third party liability for which they may be responsible. If an agent breaches his duties, it can result in liability to the principal. The business entity chosen by a company plays a big role in maintaining a strong business. There are several business entities that will be discussed in this paper along with the tax liabilities involved in the different types. In addition, Team B will discuss the electronic business and the value chain, or supply chain. The business-to-business supply chain will be discussed showing the advantages of dealing with higher volumes for business transactions, as compared to the business-to-consumers marketing strategy.
Agency Law
Agency Relationships
When forming an agency relationship there will be an appointed person called the agent whom will act for the benefit of, and under the direction of, another (the principal). Business agency relationships typically develop...
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