In todays worry world, there atomic number 18 a number of ship canal in which to leg wholly(a)y organize and structure a business. guardedly choosing and creating the correct legal entity will ultimately have a huge impact on the success and profitability of the business venture. Some common legal issues for a business accommodate; agency law, business entities, e-commerce, and the legal impacts of businesses ran electronically. This paper will hold forth these points and explain how each of these points may or may not impact a business. Keep in mind as the situations could alternatively be different depending on the company and the stipulations. marry us in our journey of discovery and learn with us!Agency LawAgency Law can be defined as common law or case law base on accumulated judgments from court cases. As there are liabilities for constituent to adept, there are also liabilities for principal to agent. In agency law there are several duties that an agent owes the principal. The liabilities of that principal to agent are; the duty of compensation, the duty to recuperate and indemnify, and the duty of keeping accounts (Barnes, 2003, pg. 325).
Agent to Principal DutiesThe duty of loyalty requires the agent to be completely honest in all dealings with the principal, avoiding conflict and full disclosure (Barnes, 2003, pg. 318). An agent should conform to compensation from the principal but this is not necessary.
Conflict of interest, self dealing, secret profits and the misuse of confidential information should all be avoided by the agent in dealings with the principal and agency business (Barnes, 2003, pg. 318). Self dealing occurs when the agent sells his topographic point to the principal. Secret profits are when the agent receives compensation from a third party and the principal without the principals? knowledge. The agent owes a fiducial duty by not acting...
The paper is well indite and thoroughly explains the different types of businesses and when you would choose each type.
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