Major Facts About Partnership And Business

A partnership can be defined as an association of two or more persons who have agreed to combine their labor, property, and skill, or some or all of them, for the purpose of engaging in legal business and sharing profits and losses between them.

Partnerships present the involved parties with special challenges that must be communicated before agreement. Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and success, how success is evaluated and distributed, and often a variety of other factors must all be negotiated. Once agreement is reached, the partnership is typically enforceable by civil law, especially if well documented. Partners who wish to make their agreement affirmatively explicit and enforceable typically draw up Articles of Partnership.

A partnership is particularly very attractive if it helps to pool the talents or skills of partners for their mutual benefit. Partnerships require individuals who are compatible, honest, healthy, capable, dedicated and equally motivated to succeed. And because of the voluntary nature of partnerships, they are reliably easy to set up.
The term business in this definition includes every trade, occupation, and profession. Therefore, this article becomes very necessary for every individual to have the idea of ​​bargaining / planning and negotiation in any kind of business level.

Humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and diverse combinations thereof, have always been and remain commonplace. In the most frequently associated instance of the term, a partnership is formed between one or more businesses in which partners (owners) co-labor to achieve and share profits and losses. Partnerships exist within, and across, sectors. Non-profit, religious, and political organizations may partner together to increase the likelihood of each achieving their mission and to amplify their reach. It is sometimes considered as alliance, governments may partner to achieve their national interests.

A partner acts as an agent of the firm in the conduct of its business. A partner must, however, exercise the highest degree of good faith in all transactions with the other partners, devote time and attention to the partnership business, and must account to the other partners for any secret profits made in the conduct of the partnership business. The liability of a partner for partnership debts is said to be unlimited, except when the partner is a limited one in a limited partnership organized in accordance with the provisions of a state statute permitting such limitation of liability.

FORMATION OF PARTNERSHIP
A partnership comes into existence by a contract entered into by the parties concerned. No formality is required but the agreement could be writing, inferior from conduct or oral. The agreement to form a partnership is known as a "Partnership Contract", the most important provision of which spells out the manner in which profits are to be distributed.

Partnerships are governed by the law of contract. It is advisable for individuals who wish to form a partnership to draw up what we called "Articles of Partnership". The article of Partnership essentially contains these items below:
• Name of Partnership
• Name and Addresses of each partner
• Statement of Business Purpose (s)
• Duration of the Partnership
• Name and Location of the Business
• Amount Invested by Each Partner
• Ratio for Sharing Profit
• Accounting Records and their Accessibility to Partners
• Specific Duties of Each Partner
• Provision or the Dissolution of Partnership and Sharing of Net Assets.
• Provision for Protection of Surviving Partners, Decedent's Estate, etc.
• Restraints on a Partner's Assumption of Special Obligations.

TYPES OF PARTNERS
There are five types of partners:
1. Active Partner: – This is the partner who participates in all the activities of the partnership.
2. Dormant or Sleeping Partner: – This is the partner who does not take an active part in the activities of the partnership but shares in the profit.
3. Nominal Partner: – This is a person who lends his name to a lends his name to the partners for a consideration.
4. Secret Partner: – This is a partner who takes an active part in the affairs of the company but he / she is not known by the public as part of the partnership.
5. Silent Partner: – This is a partner who is known by the public as part of the partnership; But he / she does not take an active part in the management of the enterprise.

ADVANTAGES OF PARTNERSHIP
1. Greater Source of Capital: – The pooling of the individual resources of each partner helps to raise a large capital. It makes it possible for an individual with the know-how, new product, invention, or new idea but no money, to work with man with money who is interested in the project.

2. Greater Specialized Management: – The ownership of a business by two or more people makes it possible for them to pool their skills and judgment for the benefit of all concerned.

3. Greater Incentive for Employees: – Employees in partnerships tend to enjoy better fringe benefit package and higher salies. They have better prospects for earned recognition and promotions.

4. Legal Recognition: – There is a partnership law that regulates the relationship between partners themselves, and between the partners and their parties that they have to deal with.

DISADVANTAGES OF PARTNERSHIP
1. Personality Clashes: – Partnership require cooperation, trust and dedication but failure on the part of one of the active partners to discharge his / her own responsibilities that could have led to personality clashes and to the end of the partnership. Partnerships are known to have ended because the members could not agree on the best course of action to take on an important issue.

2. Difficulty in Withdrawals: – The contribution of each partner ceases to be the property of the individual making the contribution. When a partner needs money, he / she can not withdraw his / her contribution or borrow money from the partnership without the express permission of the other partners. Many entrepreneurs dislike this lack of flexibility characteristic of partnerships.

3. Unlimited Liability: – Each partner is held liable for the obligations of the partnership. If one of the partners makes a costly mistake in the execution of the affairs of the partnership, creditors can sue, and if they obtain judgment against the partnership, each partner may have to sell his / her personal assets to meet the obligations.

4. Short Length of Life: – Factors like, death, prolonged ill-health, withdrawal, bankruptcy, insanity or of sorts could lead to the end of the partnership.

Conclusively, governmentally recognized partnerships may enjoy special benefits in tax policies. Among developed countries, for example, business partnerships are often favored over corporations in taxation policy, since dividend taxes only occur on profits before they are distributed to the partners. However, depending on the partnership structure and the jurisprudence in which it operates, owners of a partnership may be exposed to greater personal liability than they would as shareholders of a corporation.

Thinking Like An Online Entrepreneur – E-Commerce Tips

So much has been written about entrepreneurial thinking that I will not try to distil it here. However, there are certain behaviors I have noted about how some web owners approach the development and running of their e-commerce websites which deserve a little discussion.

Let me start with the most important, influencing factor to any web owner's success: belief.

Belief

Starting your online entrepreneurial activity with the right mindset and beliefs is like winning the match before you've stepped out onto the court. It's what separates the really successful businesses from the average ones.

Ask any sportsperson or sports psychologist and they'll tell you that your beliefs greatly affect your performance.

What we believe is possible in our online entrepreneurial life is the limiting factor in our success.

Let's take an example. Lots of people wish they were millionaires, but of those who want to become millionaires, very few actually believe they will be millionaires. Those that do, however, stand a far greater chance of becoming what they believe. Why? Because at a conscious and subconscious level they are doing everything they can to pursue that one objective. Now I'm not suggesting that being a millionaire should be your life's goal; I'm just using it as an example. The point is that your underlying beliefs in what you are capable of fundamentally affect the actions you take and the choices you make.

All this may seem more like some New Age incantation rather than hard-edged business-speak, but there is good reason I mention it. Owning and running an e-commerce website is not for the faint-hearted. It is complex and demanding and do not let anyone tell you otherwise. Be prepared for long hours, headaches and hard work, but also be prepared for more customers, a growing bank account and a sense of achievement. Your belief that you are doing the right thing is what will see you through and keep you on course for success.

Owning an e-commerce website can be a wild ride but how you handle it is totally dictated by your mind and your beliefs. For example, many e-commerce websites fail because their owners give up – they lose confidence, interest and commitment, especially in the early days of their website's life. It's easy to give up if you're struggling or faced with outright failure. However, those who believe they will succeed do not see failure as a setback but as a learning experience – they have the right mindset and they will do well because of it.

I'm telling you this because you know that success is not a set of purely mechanical step-by-step processes. (If it were, we'd all be millionaires.) Success comes from your mindset: what you believe you can achieve and the expectations you set yourself. This mindset is as important as knowing how to Search Engine optimize your e-commerce website or write compelling sales copy.

Living the Mind-Body Lifestyle

When I'm talking to mind-body newbies, they often ask me if I like living the mind-body lifestyle. They are usually worried that they'll have to torture themselves for life with something un-fun and limiting. Happily, the mind-body lifestyle is quite the opposite! Today's article is an example of what it's like to live this way, so that you can come sit in my living room with me and experience how I stay pain-free.

It goes like this: All day long, every day, my body is letting me know important things. How is it telling me? Via emotions. How do I know I'm having emotions? Via body sensations. So, my first step is to stay clued in to what my body and emotions are telling me. If I miss an emotional clue, my body will let me know with a little tension or some other small signal. All I have to do is notice these signals, and I can easily stay healthy and comfortable in my body. It's only if I were to ignore them that I might get a hint of pain.

Today is a perfect example of what it's like to use the mind-body maintenance plan.

During a session with a client this morning, I noticed I was having trouble speaking. I do not have a sore throat, I am not sick, and yet I was losing my voice. On my next call of the day, my colleagues noticed this and asked me if I had a cold.

"No," I answered, "and I'm not exactly sure what my body is trying to tell me."

There was silence while we all sat with that statement. It had the ring of a big fat lie . (No judgment here – it's quite normal that we all lie to ourselves regularly. It's actually quite good to find the lie, because then you can easily figure out what's really going on.)

I sighed. "Ok, so I do know what my body is telling me. I am not up for coaching right now, and I have a really full schedule because I've been out of town and will also be gone next week."

My college said, "Why not reschedule your sessions?"

My insides cringed. My mind panicked momentarily. And then, there it was. The THOUGHT behind this whole thing.

"I will be disappointing them," I answered. "They need their sessions, and I will not be here for them."

Which is one of the old patterns I have that leads me away from taking care of myself and straight into physical issues. I've spent many a year trying not to disappoint people, ignoring my own body / self, and ending up flattened as a result. This pattern doesnt serve me well.

The truth is that I must take care of myself in order to be of any help to any client. In fact, I might even disappoint my clients more by showing up and not being able to really do my job. My wise inner being knew that it was time to step back from coaching and take care of me, but I was afraid to follow this wise instruction. So, even though I knew in my heart what I really needed, I plowed forward with coaching.

My brilliant body let me know that I was off track. It took away my voice.

Is not it fascinating how our minds can yank us away from doing what is best for ourselves? Because my mind was afraid of disappointing clients, I was ignoring my soul's request for some quiet rest time. I was ignoring the emotional message, so my body amped up the volume a bit with the voice removal.

Hopefully you can see the process. As I noticed what was going on with myself, I unwelcomed a belief system that was causing me to work directly against what I really needed. As soon as I saw that, I was able to decide what was really best for me, and choose whether or not to act on that belief. I listened to my body, and therefore we are on good terms. I will not get sick, I will not have pain – I do not need the alarm to ring any louder than it just did.

So my body and I stuck a deal. I would finish out today, but cancel clients for tomorrow and take some serious rest and self-nurturing time. As soon as I made that deal, I felt an uplifting, lightening sensation in my chest. My voice got clear. I felt the resonance of alignment with myself.

What I like about this is that there's no fear involved. There's no imprisonment. It's not like following some hideously cycling diet for the rest of my life. It's freeing, actually, to always be checking in with my body and listening to its messages. Even if I need a slight alarm system warning here and there, it's nothing scary. It's just something to notice, learn from, and take action on so I can keep creating health.

I've noticed the more I listened to the messages, the quiater they are. The alarms do not need to be very loud anymore. Most of the time, I hear the whisper of my emotional guidance system and do not need any major body warnings. I used to get a full-on chest cold, a headache, a foot pain, or some other alarm. I love that today the body warning did not even have to create any discomfort for me to hear it. Nothing in my body hurts, but I still get the message, loud and clear. This is cause for celebration!

You, too, can arrive at this point where you listen to what your body is saying, day in and day out. It's not a bad thing at all – in fact, it's pretty dang cool to have such a helpful GPS system with which to navigate through life. I always know what's best for me, what will lead me to health and happiness, and what my next step is. There's a sense of confidence in that knowledge. Strength. Peace. And of course – health.

Embedded DVR

In most surveillance operations using a DVR, the commonly used method is to link the DVR card to a computer containing the software. This has serious limitations in the event of a virus attack or power failure, because the surveillance system could have thrown off gear. In order to overcome these problems, a new type of DVR called the "embedded DVR" has been launched.

The embedded DVR works with very little or no help from the computer. It is a plug and play meaning that installation is very easy and recording can start as soon as the device is installed. Embedded DVRs can support 4-16 cameras, and a television screen can be added for viewing live pictures. Embedded DVRs provide all the features that come with computer based DVR systems including network support options that allow you to share the recorded data. The motion of the camera can be controlled based on motion and playback and search option are also available.

Embedded DVRs can be programmed to record at specific times. With an alarm facility available, fast detection of any intrusion can be detected. On integration with a web server, remote audio / video monitoring and recording is facilitated. Data storage is usually in MPEG format. If there is a problem with storage, a back up plan is activated where the data is written onto CD disks. Embedded DVRs also have remote storage facility meaning storage of information can be done at a location away from where the input device is located. This can minimize data pilferage or theft.

Embedded DVRs are now used extensively in the transport sector. Specifically developed embedded DVRs have in built features like impact resistance, shock & vibration resistance are now found in trucks, school and city buses, airport shuttles, cars, taxis, etc. These DVRs are compact and take inputs provided by camera located in different parts of the vehicle. It can also provide the driver with a view of the road and / or passengers at all times. In such a system, the storage device is often a replaceable hard disk drive. In some cases, a USB mobile hard disk enclosure is also provided. Use of DVRs in public and private transport devices can increase the security of passengers and cargo.

With enhanced emphasis on security, embedded DVRs have become an irreplaceable component of industrial and corporate security systems. In the near future, the embedded DVRs may find new applications many areas. The full potentials of this device are still to be realized and it may not be a surprise to see them used by everyday people for everyday living.