Think Big Business Structure Essay

The research paper aims to understand the concept of business structure in regards of starting a new business in the current business environment. It intent to understand the nature of contractual agreement, and agency relationship and their consequences that business person highlights before determining the business structure of Think Big business venture. In addition, it further highlights implication of incorporation that further includes the role of stakeholders, main stakeholders, and agency relationship. Furthermore, it determines the business laws that affect the role and work of professional accountant within an organisation.
Company and Business Law
Companies or business laws are the set of laws that concern the companies working within the market place or with other business companies. Company laws include corporation, partnerships, and other types of business structure that usually companies adopt to determine financial assets and taxation policies. The law of business organisation are usually associated with the common law of England however, with the change in need and demand of marketplace, the business law has changed. Nowadays within common law, the business law include …show more content…
In other words, agency is a legal consensual relationship that is formulated or arranged by means of legal agreement where parties involved in the contract are permitted to take decision on the behalf of others. An agency can be formed on the basis of both implied and expressed term under the law and in accordance with the needs and requirement of the parties involved. In addition, parties within a contract are taken as agents that are appointed to take decision on other behalf, whereas, he is the one to negotiate contractual agreement and their consequences on the basis of his own principles with third parties (Lan & Heracleous,