10 worldwide master in management financial times 55

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#10 WORLDWIDE MASTER IN MANAGEMENT FINANCIAL TIMES 55 Nationalities in class 5 Specializations Personalize your program Length: 1O MONTHS Av. Experience: 1 YEAR Language: ENGLISH / SPANISH Format: FULL-TIME Intakes: SEPT / FEB • STUDY IN THE CENTER OF MADRID AND TAKE ADVANTAGE OF THE UNIQUE OPPORTUNITIES THAT THE CAPITAL OF SPAIN OFFERS • PROPEL YOUR EDUCATION BY EARNING A DOUBLE DEGREE THAT BEST SUITS YOUR PROFESSIONAL GOALS • STUDY A SEMESTER ABROAD AND BECOME A GLOBAL CITIZEN WITH THE BEYOND BORDERS EXPERIENCE 93% OF MIM STUDENTS ARE WORKING IN THEIR SECTOR 3 MONTHS FOLLOWING GRADUATION
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BUSINESS ORGANISATIONS AND AGENCY 356 PARTNERSHIPS 6. Three friends, Peter, James and John, wish to run a business buying and selling computers, computer software and accessories. They wish to set up a partnership but are not sure of the implications. They are also not sure about the type of partnership they should adopt. James and John are computer science graduates and are expected to provide the technical knowhow of the business. Peter is a businessman and will contribute most of the start-up capital for the business. However, Peter is busy with other things, does not wish to be involved in the daily activities of the new business, but wishes to have some say on in the business. Advise Peter, James and John on these issues and the best partnership option for them. Download free eBooks at bookboon.com
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BUSINESS ORGANISATIONS AND AGENCY 357 COMPANIES 19 COMPANIES 19.1 INTRODUCTION Companies are the most advanced structure for the running of business. Companies come into existence by a process known as incorporation – a process that came into use in 1844 – although the concept of limited liability did not materialise until 1885. Companies are regulated by a huge body of rules contained primarily in the Companies’ Act (CA) 2006 (which) replaced the one of 1985. Some aspects of the Act came into force on December 31 2006, some in January 2007, and the rest in October 2008. The Act was designed to ease the formation of companies, reduce the regulatory burden on small companies, promote shareholder engagement and long-term investment outlook, and make the UK more competitive in the business world. Other key enactments relevant to companies are the Insolvency Act 1986 and the Company Directors’ Disqualification Act 1986. 19.2 LEARNING OBJECTIVES At the end of this chapter, the reader should fully understand: • The meaning of companies • How companies are formed • The different types of companies and their relative advantages 19.3 DEFINITION OF “COMPANY” A company is defined in s. 1 CA 2006 as any company formed, registered or existing under the new or old England or Northern Ireland Companies’ Act or legislations. Thus, a business or association can only be a company if it is registered under or recognised by the Companies’ Act as such.
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