Extent did economic, political free essay sample

Although the colonists lives changed significantly in many ways after the American Revolution, the economic, political, and social conversions are viewed to be the most dramatic. The American Revolution was the war between the American colonies and Great Britain from 1775-1783 . Most consider this war not to be a nationalist revolution, In which the all of the revolutionaries was to overturn the existing system, but rather to set up the North American colonies as an Independent nation. There were extensive economic problems and modifications after the AmericanRevolution, since America refused to pay taxes to England. The taxation without representation slogan of the was enough to persuade colonists to action. There was no real class with poverty, but economic pressure added to a feeling of the way things were being run limited the colonists fiscal activity. The Revolution provided the means necessary to give the most support to merchants Interests budding commerce, the free market, and trade. We will write a custom essay sample on Extent did economic, political or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Political change was also a consequence of the Revolution.This war occurred partially because the realistic limitations of the English political field made any policy that would match the colonial wishes unattainable. America is recognized to have come forward from Its Revolution with a more efficient and centralized government. The Revolution berthed many advances, Including the separation of church and state, concepts of individual rights and equalities, the delegation of power through written constitutions, and the notion that the government should be by consent of the people.Some say, after the Revolution, authority and liberty did not flow from the political party of the society but from the configuration of its personal relationships, affecting social development. Different social classes wanted the revolution for diverse reasons. Wealthy patriots were looking to independence to free themselves from British taxation and land limitations, but were planning on remaining in control of the resulting nation. Craftsmen and merchants were looking at independence as a way of dropping the privileges of the elite.The upper class needed the aid of the lower, but were apprehensive of their more radical goals. John Adams, although part of the elite more by education than monetary worth, deemed Pains Common Sense for Its absurd democratically notions it proposed. Even within the American patriots, there were many other factions of the group, usually determined by an individuals social and moral standings. The Federalists (including John Jay and George Washington) were a more conservative faction traditionally seen as engrossed with saving the wealth and power of the more upstanding people of colonial society. On the other hand, men as representing the poorer side of society, and promoting political equality. Where some think the American Revolution was not revolutionary at all, others believe it was warranted as such by establishing a new, satisfying regime. No matter what one thinks of this, there are factual aspects of America that considerably changed after the war, the most important being the economy, political structure, and social life.

The doctrine of notice belongs to the history books and has little significance for purchasers of land today Essay Example

The doctrine of notice belongs to the history books and has little significance for purchasers of land today Essay Example The doctrine of notice belongs to the history books and has little significance for purchasers of land today Essay The doctrine of notice belongs to the history books and has little significance for purchasers of land today Essay Essay Topic: A Long Way Gone Law This is a question about the doctrine of notice or, the purchaser known as equitys darling (as they are sometimes referred to). In order to critically evaluate the validity of the view expressed by the writer in the question, it is will be necessary to: a) understand the doctrine of notice and its historical development and, b) determine whether the current position of the law and the applicability of the doctrine of notice is pertinent for purchasers of land today. In addition to these elements, it will also be necessary to factor in some understanding of the way that land is registered in the United Kingdom, as well as the problems incurred through that land which remains unregistered and how various attempts (through statute) over the years have tried to tackle this problem. It is from these, that the doctrine of notice has its very origins. It is naturally of some considerable importance to apprise the different types of equitable interests in real property as it these which purchasers of land are interested in and, moreover, how to protect those interests. Determining exactly what ones interests in real property are however, is more difficult than at first it might seem, and therefore an understanding of precisely how equitable interests are formulated, listed, charged and notified is essential. Finally, a passing acquaintance with where the law is likely to go in the future with hints at bills and up-and-coming statutes will help in our overall understanding of the issue. Argument The German philosopher, George Wilhelm Friedrich Hegel (1770-1831) once famously said: The only thing we learn from history is that we never learn from history1. This undoubtedly holds true for the natural course of human nature often so quick to condemn things to the past when they no longer seem applicable; such is the case with the doctrine of notice. A doctrine is a belief, a system of beliefs or a fundamental principle that is accepted as authoritative by a person or a group of people2. To have notice of something is to be aware that it exists3. In relation to property law in particular, the idea of giving notice is therefore usually associated with a burden on the title, i.e. generally, there will be equitable interest(s) associated with that title for which the owner (or future purchaser) of the title requires (or would at least like to have) notification of. An equitable interest is a right in personam [Latin: directed towards a particular person] which can enforced, if considered fair. On the surface, this would seem to be a sensible and indeed desirable set of circumstances from which both the owner of the title or any future purchaser of that title could benefit; after all, is it not the case that as much information as possible is a good thing when one is dealing with the purchase of land? Therefore, by definition, the doctrine of notice is an accepted authority whereby information is (or should be) given to the owner of a title in land (or the future owner of that title) of any equitable interest(s) that may be associated with that title. When we are talking about unregistered land, historically the purchaser was always bound by legal estates and interests in the land this comes from the Latin in rem, a term describing the power a court may exercise over property, either real or personal. However, when buying unregistered land, the title the purchaser obtains is essentially only ever as good as that which the vendor has: Nemo Dat Quad Non Habet One cannot give what one does not have! The problem in land law is to achieve a balance between the interests of a purchaser on the one hand (in the broad definition of the Law of Property Act 1925 [s.1(3)]4 including a lessee and a mortgagee), and those of the owner of an equitable interest in the land on the other hand5. The modern day perception of the doctrine of notice has its roots in the ancient idea of equitys darling, which has become known as the bone fide purchaser rule, or a bone fide purchaser for value without notice, actual, constructive or imputed. This is a term used in the law of real property to refer to an innocent party who purchases property without being given (any or all) notification of third party claims that may exist in relation to the title in that property. Such a person must acquire the title to that property bona fide [Latin: In good faith], and have purchased it for actual consideration in economic terms i.e. for money, rather than as a beneficiary of a gift or a trust (which would be nominal consideration). Indeed, James LJ stated6 that the plea of purchase for valuable consideration without notice was an absolute, unqualified, unanswerable defence7. Equitys darling may well have been originally designed to promote the ideas of substantive justice; but in reality, and to use an equally revered metaphor of Trust Law, she was very much moneys mistress'8. In other words, the doctrine of notice was developed to ensure that the owner of the legal title would be aware of all the equitable interests associated with that title, thereby not becoming encumbered by them, and that it was in the interests of both contracting parties (seller and buyer) that notification of such equitable interests be given. Such was the aim of the Land Charges Act 19259. This is a very important consideration in law because, if such a person purchased a property free of those interests, and, more importantly, can show that they were genuinely unaware of any third-party interests in the land, then those third party equitable interests are effectively extinguished. This leaves the erstwhile owners of such interests with only one course of action left open to them an action in court against whoever granted them the equitable rights in the first place (which in itself can often prove complicated, as equitable interests such as easements, rights, privileges, co-ownership interests10, lodgers and joint tenants11 etc., are often granted as part of a beneficiary e.g., such as in a will. The person(s) who granted these interests may in fact be deceased!). There are a couple of exceptions worthy of note: a) if the equitable interest(s) in question have been entered on the Land Charges Register12, then they will bind a future purchaser with or without notice having been given, and, b) if the purchaser has received constructive notice of the equitable interest(s) prior to the purchase then a court will usually deem that person to have received notice of all such equitable interest(s) (basically, they knew that third party(s) had equitable interest(s) in the land, but chose to ignore them, or, pretended not to have knowledge of them at all). This second exception however, can work in both directions of course if a potential purchaser of real property decides not to bother looking into the details of any equitable interest(s) (should they exist), and later discovers after having purchased the property that such interest(s) do in fact exist, then they have no recourse open to them13 caveat emptor (another property law doctrine from ancient times) let the buyer beware! One very valid criticism of the Land Charges Act system is that because registration is the sole criterion of whether an interest is binding or not [LCA1972 s.4]14, it may operate unfairly i.e. its provisions may be used to deliberately evade interests of which a purchaser has actual knowledge15 (Midland Bank Trust Co. v Green [1981] AC 583)16. The doctrine of notice applied therefore to the enforceability of all sales of real property until the introduction of the Land Registration Act 1925. This act defined a simple list (LRA1925 s.70(1)) of accepted liability of registered land to overriding interests [i.e. when a person buys a legal estate in land which has a registered title, that person would not be bound by any third-party interests in that land unless they were entered on the Land Register, or, were deemed to be overriding]17. The LRA1925 has now been repealed and replaced with the Land Registration Act 2002, which came into force on 13 October 200318. Intended to simplify and modernise the law of land registration, the LRA2002 still retains overriding interests (although they are now referred to as unregistered interests that override, but also removed the relatively simple definitions found in the old s.70(1) of LRA1925 and replaced it with two statutory Schedules19, one of which (Schedule 3) might well have been written in part by a monkey with a typewriter. Paragraph 3 of the new Schedule 3, on easements, is almost unintelligible unless one knows beforehand what it is supposed to mean20. One could be forgiven for being critical at this point in saying that this hardly looks like being a form of simplification, and yet, this is because some of the changes in LRA2002 are very subtle indeed: Firstly, the wording of Schedule 1(2) and Schedule 3(2) so far as relating to land of which he is in actual occupation has been inserted to remove the effects of Ferrishurst Ltd v Wallcite Ltd21. In that case the Court of Appeal was faced with the interpretation of LRA1925 s.70(1)(g) and questions raised concerning the exigibility22 or durability of property interests which allowed actual occupation to be enforced against the entire title, rather than the land actually occupied [Controversially, the Court of Appeal ruled that as the option to purchase was over the entire title, the claimant could exercise it over the entire title even though only in occupation of part of the land]. Secondly, there is now a duty on the transferee of a registered title to disclose third party interest(s) affecting the estate (when they apply to be the new registered proprietor) [LRA2002 s.71]; failure to do so does not however render the interest(s) invalid, and in such a case will continue to bind the new owner if the interest(s) qualify under LRA2002 Schedule 3 (although, even some of these so-called sunset interests will lose their overriding status 10 years after the Schedule entered force)23. Thirdly, it was the undoubted intention of the statute makers of LCA1972 and LRA2002 to work towards the implementation of a more coherent system of land registration one in which all the records of equitable interests, the various charges and other rights held in the land could be made readily available, easily and quickly, thereby aiding the sale and disposition of land. To that end, LRA2002 introduced the possibility of electronic conveyancing (LRA2002 s.91)24, and although the act does have the provision within it for DIY conveyancing through electronic means, we are still some way off e-register terminals at Tesco25. Perhaps my greatest criticism of LRA2002 however, is that it could have gone so much further towards enforcing the registration of unregistered land and did not do so. For that to happen, we must all wait for the next big thing in land law legislation. Conclusion So, where does all that leave us today? Well, in my opinion, the views of the author in the statement are at the very least, far too broad, and, at worst, completely incorrect. It is true to say that, were all the land in the United Kingdom safely entered as part of the Land Registry, then the doctrine of notice would serve little purpose. However, the stark fact of the matter is that as of 2007, only 85% of the land in the United Kingdom is registered which of course still leaves a staggering 15% of land unregistered (some 14,200 square miles!)26. Of course, all that unregistered land is not in one place. We are talking about small patches of land here and there, dotted all over the place (which, none the less, adds up to an area somewhat larger than the Kingdom of Belgium!). The question consequently, must hinge on whether there is any likelihood of this land ever becoming registered, thus rendering the said doctrine obsolete. This is harder to predict than at first it might seem. As I have already pointed out, the definitive aim of the statute-makers of 1925, 1936, 1969, 1972, 1986, 1988, 1997 and 2002, was to see all land in the United Kingdom entered on the Land Register; but efforts in earlier times27 to co-ordinate a system of land registration had proved just as ineffective as those of the 20th and 21st Century. Therefore, unless some extraordinarily sweeping piece of legislation is brought into law at some point in the future legislation which would enforces the registration of all the 14,200 square miles of currently unregistered land then the obvious conclusion must remain that the doctrine of notice cannot, and indeed should not [yet] be consigned to the history books. It may only serve a limited and rapidly diminishing purpose, but for those who still rely on equitys darling, it is a vital piece of British law.

Interview Article Example | Topics and Well Written Essays - 500 words - 2

Interview - Article Example In the budget, the expected needs of each department in the institution are outlined and matched with the existing resources. In addition, budgeting makes the decision-making process expeditious as all capital structure decisions are always made during budgeting. It is paramount to note that the budget instrument is the only recognized tool for communicating financial requirements to the funders of public institutions. Apart from internal organizations that influence the budgeting process, there exist external forces that determine the allotment in each department. In this case, these forces usually influence the budgeting process by making recommendations and distributing circulars that dictate on various items in the budget statement. It should be noted that public institutions are mainly funded from the public coffer and hence the entire budgeting process is often subjected too much oversight and supervision. Apart from the oversight practices, the board of directors managing a given institution seeks to their interests in the budget. Their main interest is to influence and to have control over the fee pooled from the learner. In this case, the independence of the budgeting officers is not guaranteed. When filling vacant positions in the budgeting offices, all interested parties in a given institution often feel comfortable when their choices are picked. In this case, there exist situations where some candidates with good credentials miss these vacancies. For the obvious reason, every interested party seeks to have people they are comfortable with on budgeting table. History always exonerates diligent officials who occupy budgeting offices at any given time. In most case, the end products justify the process used. In this case, when an institution is hard hit by bad economic time, the budgeting office carries all the blame. Going with the history, many budgets fail to

Pandoras Business Essay Example | Topics and Well Written Essays - 750 words

Pandoras Business - Essay Example As the paper outlines, it also offers advertising and premium subscription where companies can put advertisements to target certain people. Customers can also buy subscriptions for a few dollars a month to omit the ads. High cost of operating and other costs such as inconsistency costs means that Pandora does not have full market control. In time, Pandora will not enjoy market advantages since it will have less control of the market due to the evolution of the mobile era. More of the music downloaded is normally done illegally without the knowledge of the artists or the music labels. This has turned into a normal type of crime. Most people download songs for free and see no harm caused to the artists and record labels who normally incur losses for their work. With time, mobile revenues will improve since the world is moving to a more digitalized era. This means that the company should sell it premiums directly rather than relying on 3rd parties who are normally associated with other costs. The copyright law which is the body protecting artist’s work from being copied without their authorization should intensify and rise with good legislation which would see the reduction in piracy. The legislation is good for the music industry since Pandora is able to pay the artists and record companies. Pandora pays hundreds of millions to artists and labels. At least of the royalty rate is fair and reasonable of which both parties do benefit. Pandora can make a profit, and the artists and music labels also generate some income. Record labels are things of the past. Music labels and online stores should be able to pay artist much more fairly. They should not rely on producing CDs since they are things of the past and the world is changing. Hopefully more and more artists will bypass getting record contracts.

Civil War Essay Example for Free

Civil War Essay Brothers fighting brothers, a country imploding in itself, the world is an antithesis of what auspicious t it is today. A country separated by gender, race, religion, and class is that really a Union? The Civil War has begun, a fight not yet for the freedom of slaves but a fight to mold two sides of a coin into one. The oppressed brethren are reluctant to fight and why shouldn’t they be through all the injustices the Union has placed upon them? Regardless, Alfred M. Green delivers a speech in an effort to persuade his brethren into fighting for the right to join the army that empathizes with his fellow brethren’s inundation, that promises commemoration and recognition for his fellow African Americans, and that promotes the Union’s battle as a righteous one. Green starts his speech down on the mat with a crowd that holds the candid opinion of not wanting to join a fight for a country that oppresses its people, enslaves its people, and imprisons its people. Nevertheless Green acknowledges his brethren’s suffering and injustice caused by the â€Å"fugitive slave-laws† and the â€Å"Dred Scott decisions† and states that ‘[their] duty is not to cavil over past grievances† but to aid the country with â€Å"burning zeal and enthusiasm†. By empathizing with the injustices the Union has committed towards the black community, Green preemptively dismisses the crowd’s probable argument and establishes a common ground to build upon later in his speech. Likewise, Green mention’s that â€Å"the brave deeds of our fathers†¦ have failed to bring us recognition† which quickly refutes the future argument that the Brethren have already sacrificed their share and establishes the point that it’s up to the blacks of that era to bring â€Å"honor† and â€Å"glory† to the African American race. After acknowledging the mistreatment the Union has committed to the free and enslaved blacks, Green emphasizes that joining the war against the South will â€Å"improve the present auspicious moment creating anew [the brethren’s] claims upon the justice and honor for the Republic†. This quote suggests that taking up arms for the Union will secure the future of free African Americans with freedom and honor. In addition, Green says, â€Å"let not the honor and glory achieved by our fathers be blasted or sullied by a want of true heroism among their sons†. Green invokes â€Å"filial piety† in the crowd by ultimately saying that the good reputation their ancestors had laid out in the Revolutionary War and the War of 1812 should not be â€Å"sullied† or â€Å"blasted† and should be preserved and built upon for this time they may secure a free future. Towards the climax of his speech, Green promotes the Union Army as God’s Army and â€Å"[he or God] will defend the right, remembering that these are other days than those of yore.† By stating God wants the audience to â€Å"take up the sword† ultimately encourages the religious brethren to join this â€Å"army of God† and gives these mistreated people hope because God wants them to succeed and gain freedom from judgment and racism imposed on their race. Green also says â€Å"[their] very presence among the troops of the North would inspire [their] oppressed brethren of the South with zeal†¦ and confidence.† Green’s intention for this quote was to evoke the righteousness of the northern audience to fight for the southern slaves who are enduring far worse hardships. Alfred M. Green recognizes the hardship his race has endured but insists that their involvement in the war will secure a future filled with honor and glory and insists that God sides with the North and trusts them to fight for and free the enslaved south. In essence, Green convincing blacks and whites to work together as equals was the leap of mankind that inspired the many immigrants and future generations to see the United States of America as the land of freedom and the home of the brave.

Essay on Voltaire’s Candide: The Accuracy of Candide -- Voltaire Candi

  Ã‚  Ã‚   Voltaire is correct in Candide, where he argues that life on earth is hell in many ways. Voltaire accurately describes how selfish people often are and how they inflict misery on others as a result. Voltaire also describes accurately common forms of cruelty in society. Although he may be mistaken that all wars are equally senseless and avoidable, Voltaire is correct in showing that war inevitably produces atrocities, which makes for hell on earth.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In support of these statements, let's examine Voltaire's accurate description of human selfishness.  Ã‚   An example would be the behavior of the sailor who Pangloss and Candide met on their voyage to Lisbon.   This sailor was rescued from drowning by Jacques the Anabaptist. Yet when Jacques fell into the sea himself, the sailor refused to risk his own life to save him. As a result of this selfishness, Jacques died. Later on, when the sailor reached shore, he ignored the sufferings of people horribly injured by a recent earthquake. Instead the sailor took money from them in order to get drunk and hire a prostitute. This sailor was wholly self-centered and uncaring about anyone else and by not helping anybody out he in effect inflicted misery on them. When the terrorists destroyed the World Trade Centers, and many police and firemen were killed, many people received money for relatives that did not die, and used the money for gambling, booze and whores. Human nature in this regard has not changed since the book was written. This being so, Voltaire's description of how human selfishness can often turn life on earth into a hell is accurate.     Ã‚   Voltaire's depiction of how common cruelty is in society is also well supported. For example, Voltaire describes how Candide en... ... again as an example, there were many instances of people who risked their own lives to save others and as a result received citations and promotions as well as the admiration of their family and friends. This objection to my argument, however, does not take an important thrust of Candide into account. That is, that Voltaire felt that he had to use exaggeration and one-sided presentation to make sure his audience did not refuse to contemplate deeply just how much cruelty and selfishness exists at all times all around them and how much people suffer because of that. Works Cited and Consulted: Frautschi, R.L. Barron's Simplified Approach to Voltaire: Candide. New York: Barron's Educational Series, Inc., 1998. Lowers, James K, ed. "Cliff Notes on Voltaire's Candide". Lincoln: Cliff Notes, Inc. 1995. Voltaire. Candide. New York: Viking Publishers, 1976.

Business Ownership Essay

There are three different forms of business ownership, the Sole Proprietorship, the Partnership, and the Corporation. Each of these businesses have major advantages and disadvantages. The sole proprietorship is a business which is owned and managed by one individual. Some of its advantages are, the ease of formation, its management control, and its distribution of profits. Some of the disadvantages are, its unlimited liability, the lack of continuity, the capital requirements. Let’s begin with the advantages. A sole proprietorship is very easy to create. Anyone who wants their own business simply needs to get the necessary licenses from, for example, the state, the county, and/or their local government. After he or she obtain these licenses, he/she can begin operating their business. In a sole proprietorship, the sole proprietor has full control over his/her operations. Because he/she has this control, they can respond quickly to the changes that may occur in the market. This is a great motivator for a sole proprietor because he/she can keep up with the trends. The sole proprietor also owns all the profits that his/her business takes in. They themselves own the business and therefore do not have to distribute the profits with anyone else. The only thing that he/she needs to do with the profits is pay the company expenses and the rest is theirs to do with as they please. This tends to be a great incentive for a sole proprietor. Next, we have the disadvantages. The sole proprietorship has unlimited personal liability. The sole proprietor is personally liable for all of the businesses debts. He/she is the sole owner, which means there is no one else responsible to contributing to the payment of debts. This is one of the biggest disadvantages of a sole proprietorship. There is also a lack of continuity in a proprietorship. If for some reason the sole proprietor dies, retires, or becomes incapacitated, the business could end. When this happens, if a member of the family, or an employee, does not take over the business, the business could be in big trouble. A proprietorship is usually a small business, and to find good employees that are dedicated to staying with the business could be hard. The reason for this is that most people look for security, and advancement in their employment, this usually does not exist in businesses which are small. If no one takes over the business, and the business had debts, creditors can go to the courts for a petition to sell off the assets so that they can pay back these debts, therefore the business has discontinued. It is also very hard in a sole proprietorship to obtain capital. Most banks and other lending institutions have certain formulas/requirements for determining how eligible a borrower may be. Many proprietorships do not meet these formulas/requirements and are therefore limited to whatever capital the owner has to contribute, and whatever money he/she can borrow. This can be a major set back in a proprietorship depending on the amount of capital the owner has to invest. The next form of business ownership is the partnership. A partnership is an association of two or more people who co own a business for the purpose of making a profit. Some of its advantages are its ease of formation, its distribution of profits, its capital requirements, and its taxation. Some of its disadvantages are, its unlimited liability, its lack of continuity, and it management control. Once again, let’s start with the advantages. The partnership, like the sole proprietorship, is also easy to establish. All the owners have to do is obtain the necessary business licenses, and submit a few required forms. If the business is run under a trade name, the partners will have to file for a certificate to conduct their business. When the accomplish all of the above, they can start operating their business. In a partnership, an agreement is usually made up outlining the share of profits each partner should receive. It is necessary for the partners to abide by this agreement when it comes to distributing the profits to ensure that each partner receives the right amount. Besides for this technique, there are no restrictions as to how the partners distribute the company’s profits, they just need to stay consistent with the agreement. A partnership also has a broader pool of capital than the sole proprietorship. In comparison to the sole proprietorship, the partnership has several owners instead of one. This means that each partner’s personal assets will support a larger borrowing capacity from lending institutions. When you are a part of a partnership, the business is not subject to federal taxation. A partnerships net income/losses are passed along to the partners as personal income, in which the partners have to pay income tax on. This way, the partnership avoids â€Å"double taxation†. Next, we have the disadvantages of the partnership. One of its main disadvantages is its unlimited liability. One partner is given the title of the general partner. This means that if there are any problems (for example with debts), that partner assumes full responsibility. This is also why the general partner is usually the partner with the least personal resources. A partnership, once again like the Sole Proprietorship, has a lack of continuity. Complications begin to arise if one of the partners die. A partnerships interest inheritance is often non-transferrable because the remaining partner may not agree on working with the person which inherited that portion of the partnership. This would cause great implications in the partnership because one person is no longer there, which means the work that person was responsible for now has to be distributed among the rest. There is a way of avoiding this problem though, the partners can agree on who will obtain the partnership interest in the event of them dying. Lastly, there is great potential for conflicts in a partnership. There is no longer one owner which means control is distributed among several people.  With several people in control, there is no way to completely avoid conflicts. However, the partners will have to learn to work through their problems by communicating with each other. If they do not do this, their conflicts will remain unresolved which could end up being the cause of their partnership, and business, failing. Communication is essential in a partnership, as it is in any form of business. Finally, there is the corporation. A corporation is a separate legal entity apart from its owners, in which receives the right to exist from the state in which it is incorporated. It is the most complex of the three major forms of business ownership. Some of the advantages are, its limited liability, its capital requirements, and its continuity. Its disadvantages are, the cost and time in the incorporation process, the double taxation, and the loss of management control. A corporation lets its investors limit their liability to the corporation by letting them decide the total amount of investment in the business. This is allowed because it is a separate legal entity, whereas a Sole Proprietorship and a Partnership are not. This also gives the corporation stockholders legal protection towards their personal assets outside the business. A corporation has great ability when it comes to attracting capital. The only limitation they have, is the number of shares authorized in its charter, this too can be changed. The corporation can raise money by simply selling shares of some of its stock to investors. This way they gain money to begin business and expand. A corporations future does not lie in the hands of one individual person. It has shares worldwide, and will continue to live as long as people invest in it. The only way a corporation can discontinue, is if it fails to pay its taxes or is limited to a specific length of life by the charter. Next, there are the disadvantages. To start a corporation it can be costly  and time consuming. The actual creating of the corporation can cost between $500 and $2,500. There are also fees involved in establishing a corporation which does not exist with a sole proprietorship, or a partnership. In some states you need the assistance of an attorney to establish the corporation, whereas in others you can do it all on your own. A corporation also has the disadvantage of double taxation. This means that it must pay taxes on its net income at the federal level, in most states, and to some local governments as well. The corporation pays taxes on dividends at the corporate tax rate, then stockholders must pay taxes on the dividends they receive from the same profits at the individual tax rate. As you can see it is being taxed twice. There’s also a potential loss of control by the founder(s) of the corporation. When shares are sold in the company, you are really selling shares of ownership, which gives some control to the person who bought the share. The more shares the founder sells to gain capital, the more control he/she is losing. This could be a big problem and amount to a great loss of control for the founder if he/she needs a large capital infusion. Lastly, the profits of the corporation are widely distributed. People all over the world can obtain shares on the corporation, and therefore receive dividends from the corporation. Therefore the profits are widely distributed among all the shareholders. As you can see from the information I have given, there are three major types of business ownership. All of these types have their advantages and disadvantages, so it depends on what you decide is better for you in starting a business.