The Legal Function

Author(s):  
Josephine Bisacre

When we look at business, we generally focus on large global businesses, such as Apple, Shell or Rolls Royce. While there are around 5.2 million businesses in the UK, in fact 99% of them are extremely small (HM Government, 2014). Despite the rate of business failure being high in the early years, overall numbers of businesses are slowly growing. Most new businesses start small, with a view to expansion. This narrows the choice of business medium, as some forms may not suit a particular business at its current stage of development. The focus of this chapter is on the legal structures for doing business. It adopts terminology from the UK’s legal system, but similar structures apply in other countries. The objective is to show when a particular legal structure might be appropriate and to highlight key differences between legal structures for enterprises. We also examine the concept of legal personality, which allows a business to be considered as a separate entity from its members, and allows the members of some organizations to have limited liability for business obligations. Most countries have some business forms where the proprietors carry unlimited liability and others where they can avail themselves of limited liability.

Author(s):  
Hülya Göktepe

Social business, was first defined by Nobel Peace Prize laureate Prof. Muhammad Yunus and is described in his books. Social businesses are non-loss, non-dividend companies created to address and solve social or environmental problems. Microfinance is another form of social businesses. Like an NGO, social business has a social mission, but like a business, it generates its own revenues to cover its costs. In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point. The purpose of the investment is purely to achieve one or more social objectives through the operation of the company. No personal gain is desired by the investors. The company must cover all costs and be financially sustainable, while achieving the social objective in sectors such as healthcare, education, poverty, environment, housing, climate urgency etc. Legal structures available to all enterprises can be used by social businesses. These are: for-profit organizations, non-profit organizations (associations, foundations), charities, co-operatives. However, there are legal structures specifically designed of social businesses. These are: benefit corporation, flexible purpose corporation, low profit limited liability company (L3C), hybrids, community interest company (CIC).The purpose is this study is to contribute to the Turkish literature related to social businesses. In this study, definition of social business and microfinance will be given. The characteristics of social business will be indicated, social business examples will be presented and finally legal structures of social businesses will be analyzed. This study is descriptive study.


2016 ◽  
Vol 65 (1) ◽  
pp. 9-17
Author(s):  
Lucía Gómez-Tatay ◽  
José Miguel Hernández-Andreu ◽  
Justo Aznar

Le malattie dovute alle alterazioni del DNA mitocondriale (mtDNA) sono attualmente incurabili. C’è tuttavia un certo numero di metodi a vari livelli di sviluppo che potrebbe evitare la trasmissione madre-figlio di questi disturbi ereditari. Tra questi metodi ci sono due tecniche che sono attualmente attirando l’attenzione di ricercatori, decisori e pazienti: il trasferimento pronucleare (PNT) e il trasferimento del fuso materno (MST). Questi metodi comportano l’uso di mitocondri sani da un donatore. PNT ha luogo in uno zigote, mentre nell’MST, le cellule uovo sono manipolate. Questi metodi sono molto promettenti, in quanto sembrano essere efficaci e sicuri, e infatti, potranno presto essere utilizzati nella pratica clinica nel Regno Unito, dove sono già state elaborate alcune misure legislative. Tuttavia, queste tecniche, come sono concepite oggi, sollevano diverse questioni etiche. In questo articolo, proponiamo una possibile soluzione per superare questi problemi, dando alle famiglie colpite la possibilità di concepire bambini sani. Noi crediamo che, allo stadio attuale di sviluppo, ci sono due tecniche, la MST e il Trasferimento di Vescicola Germinale o l’Iniezione di Vescicola Germinale (GVT o GVI), che combinati con una tecnica di riproduzione, come il trasferimento nelle tube di Falloppio di gameti (GIFT) o il trasferimento della cellula uovo nella parte prossimale della tuba di Falloppio (LTOT), potrebbe essere ampiamente accettati. Al contrario, il PNT senza fornire alcun beneficio in termini di efficacia o sicurezza, comporta ulteriori gravi difficoltà da un punto di vista etico. A nostro parere, la ricerca e la legislazione devono seguire questa linea, dal momento che numerose questioni etiche verrebbero superate senza compromettere efficacia e sicurezza. ---------- Diseases due to alterations in mitochondrial DNA (mtDNA) are currently incurable. However, there are a number of methods in various stages of development that could avoid mother-child transmission of these hereditary disorders. Among them are two techniques that are currently attracting the attention of researchers, policymakers and patients: pronuclear transfer (PNT) and maternal spindle transfer (MST). These methods involve use of healthy mitochondrial from a donor. PNT takes place in a zygote, whereas in MST egg are manipulated. These methods are highly promising, since they seem to be effective and safe, and in fact, they could soon be used in clinical practice in the UK, where legislative steps have already been taken. Nevertheless, these techniques, as they are conceived today, pose several ethical issues. In this paper, we propose a possible solution to overcome these issues, while giving affected families the possibility of conceiving healthy children. We believe that, at the current stage of development, there are two techniques, MST and Germinal Vesicle Transfer or Germinal Vesicle Injection (GVT or GVI), which combined with a reproduction technique such as gamete intra-fallopian transfer (GIFT) or low tubal oocyte transfer (LTOT), could be widely accepted. In contrast, the PNT without providing any benefit to these in terms of efficacy or safety, entails more serious ethical difficulties. In our opinion, research and legislation must be conducted in this line, since several ethical issues would be overcome without compromising effectivity and safety.


2019 ◽  
pp. 47-71
Author(s):  
Petr M. Mozias

China’s Belt and Road Initiative could be treated ambiguously. On the one hand, it is intended to transform the newly acquired economic potential of that country into its higher status in the world. China invites a lot of nations to build up gigantic transit corridors by joint efforts, and doing so it applies productively its capital and technologies. International transactions in RMB are also being expanded. But, on the other hand, the Belt and Road Initiative is also a necessity for China to cope with some evident problems of its current stage of development, such as industrial overcapacity, overdependence on imports of raw materials from a narrow circle of countries, and a subordinate status in global value chains. For Russia participation in the Belt and Road Initiative may be fruitful, since the very character of that project provides us with a space to manoeuvre. By now, Russian exports to China consist primarily of fuels and other commodities. More active industrial policy is needed to correct this situation . A flexible framework of the Belt and Road Initiative is more suitable for this objective to be achieved, rather than traditional forms of regional integration, such as a free trade zone.


2020 ◽  
Vol 22 (5) ◽  
pp. 62-66
Author(s):  
NATALIA S. EPIFANOVA ◽  
◽  
MIKHAIL G. POLOZKOV ◽  

The article studies the necessity and features of transformation of the educational system under conditions of accelerated development in the digital economy. Particular attention in the context of this transformation is given to significance and possibilities of digital literacy, which forms the whole complex of fundamentally new requirements for all participants in the education system. The authors argue that the current stage of development of the digital economy requires the education system not only to digitalize its individual elements and links, but to apply a fundamentally new integrated approach that would transform the education system while taking into account new goals, structure and content of the educational process. The authors define digital literacy as the ability to form and apply educational content through digital technologies. The article gives particular emphasis on the significance and potential of individualizing the educational trajectory and the concept of continuing education. The authors consider the main factors in the development and achievement of the level of digital literacy, considering the requirements that the digital economy is currently imposing on the educational system.


2004 ◽  
Vol 23 (1) ◽  
pp. 53-67 ◽  
Author(s):  
Steven R. Muzatko ◽  
Karla M. Johnstone ◽  
Brian W. Mayhew ◽  
Larry E. Rittenberg

This paper examines the relationship between the 1994 change in audit firm legal structure from general partnerships to limited liability partnerships (LLPs) on underpricing in the initial public offering (IPO) market. The change in legal structure of audit firms reduces an audit firm's wealth at risk from litigation damages and reduces the incentives for intrafirm monitoring by partners within an audit firm. Prior research suggests that underpricing protects underwriters from litigation damages, and that the level of underpricing varies inversely with both the amount of implicit insurance provided by the audit firm and the quality of the audit services provided. We hypothesize the change in audit firm legal structure reduced the assets available from audit firms in IPO-related litigation and indirectly reduced audit quality by lowering intrafirm monitoring. As a result, underwriters have incentives as a joint and several defendant with the audit firms to increase IPO underpricing, particularly for high-litigation-risk IPOs, following audit firms' shifts to LLP status. Our findings are consistent with this hypothesis.


Author(s):  
Bertrand Collomb ◽  
Susan Neiman

Is there a way of doing business that can sustain material progress without displacing other values that are the essence of the good life? This chapter is a dialogue on this and related questions. Has the present economic system reversed the means–end relation between markets and life? What forms of reasoning and value might redress this? Given our growing awareness and relations, what responsibilities do we have toward people in other parts of the planet? Will enterprises face a sunset on the notion of limited liability? The chapter discusses the marketing economy’s manufacture of needs and the seeming overfinancialization of the economy. It concludes by proposing that if something is necessary to act morally, it is rational for us to believe in it. The spontaneous outcomes of the free market have to be evaluated against our societal goals, and the process reshaped via education and not only regulation.


2020 ◽  
Vol 17 (6) ◽  
pp. 760-784
Author(s):  
Paolo Butturini

The very detailed regulation about written resolutions of private companies enacted by the CA 2006 is interesting not only to British companies and practitioners but also to those of other countries. After analysing the regulation, we will ask, in particular, if and how these rules can help Italian companies and their advisers in setting adequate rules about written resolutions in a limited liability company’s articles. In more general terms, we will also discuss whether the UK regulation can be considered as a template for other legislators and whether the principles underlying it can be helpful in construing foreign regulations of written resolutions.


Infolib ◽  
2020 ◽  
Vol 24 (4) ◽  
pp. 2-8
Author(s):  
Umida Teshabaeva ◽  

The article is devoted to the history of the Tashkent Public Library, at the origins of which were prominent scientists of that time, to the present day of the National Library of Uzbekistan. The library fund has more than 7.5 million items in 75 languages of the world. The National Library is the main methodological center of information and library institutions of the Republic. Creation of favorable conditions for readers is one of the priority tasks of the library, which is improved every year by the introduction of new technologies for obtaining information in an operational way. Thanks to membership in the International Consortium «eIFL», users have access to 38 foreign educational databases, 12 of which are licensed. Also, library readers get access to national and world educational collections in different languages of the world.


2021 ◽  
pp. 115-123
Author(s):  
Andrei Nikolaevich Osipov ◽  
Aleksandr Ivanovich Bogachev ◽  
Vadim Rishatovich Gumerov ◽  
Elena Gennadevna Mordovina

2022 ◽  
pp. 15-21
Author(s):  
Oksana Anatolievna Gizinger ◽  
◽  
Irina Yurievna Lepina ◽  
Marina Nikolaevna Bagdasaryan ◽  
◽  
...  

The article presents an analysis of current information on the etiology, pathogenesis, laboratory diagnosis of human papillomavirus. It is shown that at the current stage of development of laboratory diagnostics there is a reliable screening test — cytological examination of smears taken from the ecto- and endocervix. To diagnose HPV, a combination of microscopic (cytological studies) and molecular genetic (PCR) diagnostic methods is used.


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