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Emotional Fulfillment - The Challenge
Does A Franchise Meet Your Needs?
Do you look forward to Friday afternoon or Monday morning? Perhaps that’s the true litmus test of happiness. If you’re thinking about the fact that there’s only one day to go before the weekend, when you just...
Must Know Tips I Wish I Had Known 3 Years Ago, About Working From Home Online
The following article was originally published and written in 2002. I have updated it, and am currently working on an ebook with a similar title. This explains the mistakes I made and what I have learned from them. The original title, was 6 months...
Quicker Success Through Business Kits And Startup Guides
You have always had an interest in starting a particular type of
business. However, realistically you know that you lack the
expertise required. How can you startup the desired business
from scratch and begin making profits without the steep...
Radio Interviews - How to get them!
The complete article together with preactical excersises and Coaching tips can be found at www.my1stBusiness.com .
Getting on the radio can be a great tactical move as part of your overall publicity effort, but you do need to have a story...
The PR Commitment to Small Business
Let's talk about a small business that ignores the very people who hold the future of that small business in their hands.
We’re birds of a feather, public relations and small business. Wonderfully compatible and a perfect fit. Usually makes...
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Company Laws and Terminology
Company law and terminology is full of confusing terms, and if
you don't know what they mean then settung up a company or
business can start to look far more scary and complicated than
it really should be. Read through this jargon buster and you
should find it much easier to understand what starting up is all
about. See also the "Start Here" category.
Capital. This is money that is going to be invested in a
business. Example: 'I am starting my business with $5,000
capital, $2,000 of which is my own'.
Contract. When you sign a legal document, you are entering into
a contract. Starting a business lets you sign and enter into
contracts on behalf of the business -- the contract will be
between the other person and your company, not you.
Director. The people ultimately in charge of a company are its
directors. For a large company, there will be a boards of
directors, appointed by the shareholders. For a home business,
though, you can appoint yourself as the sole director since you
are also the sole shareholder (see 'shareholder').
Incorporation. This is the formal name for the process of
starting a company. Example: 'My business was incorporated in
March 2005'.
Insolvency. When a company cannot afford to pay its debts. The
type of company you have set up will affect what happens in this
situation -- you may be liable for all of the debt yourself, or
for none.
Limited liability. A limited liability company is one where you
agree beforehand how much responsibility you will take if
anything goes wrong. This protects you from being destroyed
financially if something bad happens to your business.
Office. Your company's 'office' isn't just a place with
computers -- it's also a legal concept, meaning where your
company is based. Your company must have a registered office,
which means that you can't start a company unless you have an
address which would be legal to use for this purpose.
Private. A home business will be private, which means that
members of the public cannot invest by buying shares. This does
not stop individuals from buying percentages of your company if
you are willing to sell, though. Starting your company as a
private one also doesn't stop you from converting it to a public
one later on.
Proxy. Someone who acts as a
proxy for you acts on your behalf
-- you have given them the legal right to speak for you. For
example, if you get a lawyer to handle the incorporation of your
company, they will be incorporating it for you by proxy.
Shareholders. The shareholders are the people who own the
company. In your company, you will be the only shareholder (and
so own 100% of your business), unless you've made a deal with
someone else for them to own a share.
Latin.
When you're dealing with law, the amount of Latin involved can
be confusing. Here are some Latin terms you might come across
when you're setting up your company.
Bona fide: 'in good faith'. This is used to mean that someone
says they are telling the truth.
De facto: 'in fact'. Used when something has happened that makes
the 'real' situation take precedence from the legal one.
De jure: 'in law'. The opposite of de facto.
Ex gratia, 'out of grace'. When something will be done for no
fee.
Prima facie, 'at first sight'. Something that seems true but is
wrong.
Quid pro quo, 'something for something'. When a fee will be
charged for a service (or services will be exchanged).
Be Careful with Jargon.
However much jargon you might begin to encounter as you start
your business, don't start to use it yourself. It will make it
so that only 'insiders' will understand what you mean, and
everyone else will feel either a little silly or a little
annoyed. By the same token, if you're speaking to someone (your
accountant, for example) and they use some jargon you don't
understand, there's nothing wrong with asking them to explain
what they mean -- it's their fault for using an overly technical
term, not yours for not knowing it.
If you're not sure, there's a simple rule: jargon is for
communicating very specific, technical meanings. It shouldn't be
used to replace everyday language, as it does nothing but cause
confusion.
About the author:
Original Source: Articles
Galore.com
Information supplied and written by Lee Asher of Eclipse Domain
Services
Domain Names, Hosting, Traffic and Email Solutions.
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