Copyright Infringment Research Paper Example | Topics and Well Written Essays - 500 words

Copyright Infringment - Research Paper Example The trademark infringement by U-Haul caused confusion, mistake and commotion through creation of an impression that its services and products were produced or distributed by PODS. U-Haul misused PODS trademark after it had unsuccessfully attempted to acquire it in 2007 and gained access to private data concerning the company. U-Haul argued that the manner in which it used pods was not associated with the unsuccessful acquisition of PODS while further arguing that pods is a generic term and thus the PODS trademark should have been revoked. Copyright infringement is defined as a use of work under the protection of copyright law without authorization therefore impinging on particular exclusive rights accorded to the holder of the copyright. According to the essay, cases of trademark infringement are usually complex and very expensive with the one associated with U-Haul and PODS having almost three hundred entries while at the same time being comprised of numerous orders, motions and dep ositions of professional witnesses. Such cases are decided in the basis of whether a normal customer can mistake the trademark for a different product (Packard, 2013). This makes such cases extremely challenging to prove since trademarks should be unique words and not descriptive words in order to make them easier to prove. The PODS trial focused on how the word pods is defined and used while assessing whether the company’s trademarks were protectable. At the end of the trial, PODS was pleased with the decision of the jury.

History of Slavery in Chesapeake

History of Slavery in Chesapeake The development of slavery in the Chesapeake was due solely to the economic needs of white settlers. Do you agree? History can never adequately provide answers regarding the motives of men and women throughout recorded history; what it can do, however, is to provide a prism through which to gauge the consequences of their actions. With regards to slavery, the consequences of the Southern United States’ intrinsic involvement in the practice of slavery were truly seismic, resulting in the American Civil War and the cementation of the world’s most powerful economic and military force. The role of the Chesapeake in this tumultuous domestic conflict should not be underestimated such was the deep seated nature of the region’s association with slavery. Certainly, economic necessity appears to be at the forefront of this historical fact with the rich tobacco and other grain industries flourishing in the South as a direct result of the burgeoning slave trade. Indeed, as Fogel (2003) underscores, even the slaves themselves could be traded amongst white settlers for economic profit. For the purpose of perspective, the following analysis into the development of slavery in the Chesapeake region must adopt a critical stance attempting to show that economic reasons were indeed the dominant paradigm in the region’s development of a sophisticated slave trade while also underscoring the complex and diverse nature of the early American slave trade. First, however, a conceptualisation of the issue must be attempted. It is important to note that Chesapeake differed markedly from the slave trades operating in the Georgia Low Country after the first arrival of enslaved African workers in the early seventeenth century (transported by Dutch merchants to replace a dwindling European labour force in the North American colonies). Unlike in other English colonies, the Chesapeake was a locale that was only colonised for economic reasons with a sparse colonial population in the days immediately prior to the introduction of slavery. Likewise, the differences within the Chesap eake itself highlight the way in which the values of trade, profit, production and the economy were central to the genesis of slavery in the region, as Philip Morgan (1998:9) details. â€Å"By the late seventeenth century, Virginia had a plantation economy in search of a labour force, whereas South Carolina had a labour force in search of plantation economy.† From the very beginning, therefore, a symbiosis began to form between the determining economic factors of the white settler communities and the introduction of large numbers of slaves into the colonies, with the number of African workers increasing from 13000 to 250000 in the Chesapeake Bay area between 1700 and 1770. The fact that this unprecedented level of African recruitment was accompanied by a drive to attract more female slaves to the colonies so as to increase the plantation population is testimony to the economic imperative at the heart of slave development in the Chesapeake. If slavery were a temporary measure to increase population levels in the area then the imposition of female slaves would not have occurred; only because of the permanence of the economic necessity for slaves did this phenomenon occur. Furthermore, the sheer expanse of the New World landscape required the development of slaves to even begin to cultivate the land for economic production. After the introduction of rice crops in the 1680’s, Boyer (2003:85) estimates that a farmer planting 130 acres of the crop would require at least 65 slaves to do so. With the rapid reduction of the white indentured slaves after the turn of the eighteenth century, the absolute economic need for African slaves in the Chesapeake further increased so that the white plantation owners were utterly dependent on slave manpower in order to function as viable enterprises, competing with highly productive colonies such as the West Indies. Without the slave trade, the Chesapeake region of America particularly the states of Virginia and North Carolina could never have emerged as a major player in the expanding trans‑Atlantic trade system. It was not just for economic reasons that slaves were seen as integral to the rise of the Chesapeake. Health imperatives likewise played a part in the development of slavery during the early years of the colonial era. The African workers were immunised against the malaria that came with the imported rice and grain crops – a disease that rendered white workers obsolete during the formative years of the Chesapeake’s economic development. Moreover, the hot and humid climate of the Chesapeake was wholly alien to the white settlers from the colder European climate while the African workers imported to work on the plantations were much better equipped to cope with the working conditions in the New World, though Oscar and Mary Hadlin (1950:199-222) refute this claiming that it is unjust to blame nature for barbaric human institutions. It is also important to recognise, as Edmund Morgan (2003:314-344) points out, that the slaves were important for sociological and cultural reasons, helping to underpin the rigid class structure that flourished in the southern American states. By taking away the need for a white working class, the slaves of the Chesapeake performed the task of cultural underdogs, which was an integral part of the economic rise of the region as a world exporter. Despite the diverse range of cultural and sociological factors prevalent in the development of slavery in the Chesapeake there is no escaping the pre‑eminence of economic imperatives. Indeed, the manufacturing of the term ‘slave trade’ implies the significance of economic issues in all parts of America that indulged in slavery with the transaction of human beings working in tandem with the production of profits garnered from the rich plantations. As Winthrop Jordan (1976:110-115) details, the underlying prejudice of the white settlers incorporating a profound sense of racial and ethnic superiority facilitated the evolution of slavery as a comprehensive way of life in the Chesapeake. The fact that the Chesapeake was willing to go to war with the Yankees for the perpetuation of the profits generated by the slave trade proves beyond doubt that economic reasons were the catalyst behind the development of slavery in the region. References Boyer, P.S. et al (2003) Enduring Vision: a History of the American People: Fifth Edition New York: Houghton Mifflin Breen, T.H. (Ed.) (1976) Shaping Southern Society: the Colonial Experience Oxford: Oxford University Press Fogel, R.W. (2003) The Slavery Debates, 1952-1990: a Retrospective Baton Rouge: Louisiana State University Press Morgan, E.S. (2003) American Slavery, American Freedom London: W.W. Norton Co. Morgan, P.D. (1998) Slave Counterpoint: Black Culture in the Eighteenth Century Chesapeake and Low Country Chapel Hill, NC: University of North Carolina Press Selected Articles Jordan, W. (1976) Unthinking Decision: Enslavement of Negroes in America to 1700, quoted in, Breen, T.H. (Ed.) Shaping Southern Society: the Colonial Experience Oxford: Oxford University Press Journals Hadlin, M.F. and Hadlin, O. (April 1950) Origins of the Southern Labour System, quoted in, William and Mary Quarterly, Volume 7, Number 2

Korea Essay -- essays research papers

Korea What distinguishing factors help explain the rapid economic growth experienced by the South Korean economy over the past four decades? As the South Korean economy has reached a more mature stage of its economic growth, what are the evolving challenges it has had to face? What are its prospects of continued economic success in the increasingly globalised world economy? The rapid growth and development in the newly industrialising economies (NIE’s) in recent decades has been nothing short of spectacular. Now among the world’s most dynamic industrialised economies, the NIE’s of Singapore, Taiwan Hong Kong, and South Korea which will be the focus, stand as perhaps the best examples of successful economic development. The economic development of South Korea, which has been among the most rapid in the world is typical of the ‘miracle’ that is the NIEs. Korea has come far since the days it was ‘a nation of hungry rice farmers’, by pursuing an industrialisation-led development commitment since 1961, which has since produced annual GDP growth of 8.4% per annum, second only to China. The success of South Korea, has been identified by a number of factors including the shift away from import substitution strategies towards export orientated industrialisation, and the effective managing of the economy and authoritarian rule adopted by the government in order to accelerate the pace of capital accumulation, technical progress and structural change to produce economic growth beyond what could possibly occur in a free market economy. NIEs, South Korea, are now recognised as ‘export machines’ boasting some of the highest trade/GDP ratios in the world. International economic relations began in 1964 with the recognition of these limitation of the domestic market and the ineffectiveness of pursuing substitution industrialisation strategies. As part of its new strategy for export expansion the South Korean government introduced new measures which included the devaluation of the won, which improved the competitiveness of its exports and introduced incentives designed to channel resources into export-orientated industries. Exporters were also supported by direct cash payments, permission to retain foreign exchange earnings for the purchase of imports, and the exemption from virtually all import controls and tariffs. The government in consultation with firms, set up ex... ... favourable, but the high rate of success from the growth performance in the 1980’s will be difficult to replicate. The next phase of the Asian miracle that will involve China emerging as the world’s largest economy within 10 years and the re-emerging Japanese economy will provide substantial benefits for the Korean economy. Some important strengths of the economy include: a well educated and motivated workforce, a growing level of R&D, continued rates of high savings, greater regional trade links and potential for domestic growth through increased infrastructure investment, housing and personal consumption. In summation, South Korea is an economy which initially through selective government intervention and now through domestic and international reforms, sped to economic might. Although there are many challenges in the longer term making South Korea’s future uncertain, (including the reunification with the ailing, unstable North) the fact South Korea has come so far argues well for the future. If South Korea can make the necessary changes to its economy to become a sustained industrialised nation then it will certainly take its place as an economic leader in the near future.

How to Calculate Retirement Funds

To calculate the present value of interest and principal payments, you will need to use the NAP function, rather than the UP function, since the cash flows in the principal and interest columns are not constant throughout time. ] What do you observe when you look at these numbers? Explain. (c) Using your amortization table, what Is the principal that remains to be paid after you have completed 15 years of payments? How does this figure relate to the payments that you have already made? How does this figure relate to your remaining payments? Explain. (d) Suppose that you had bought this house in June of 2006 under the terms scribed above.Since that date, the average house has declined in value at the rate of 1% per month. [This is the national average for the 3-year period ending summer 2009. ] Assuming that you also experienced this price decline on your house, at what point in calendar time will you owe more in principal on the loan than the house is worth? Assume throughout that yo u make every payment on time and that house prices continue to decline until at least this point in time. Answer the same question if you had paid 30% down Instead of 10%. Explain why your answers are different. E) Now suppose that your house from part (d) was located In Miami, FL.The average decline in housing prices over this time period in Miami was about 2% per month for the last 4 years. Assume that your house's price declined by the same amount as the average house in the Miami area. How does a 2% decline change your answers to part (d)? Are the answers the same or different? Explain. NOTE: For questions prepare a spreadsheet model for part. Use this spreadsheet model with additional calculations for part b, c, d, e. Written answers to the questions in b, c, d, and e should be place on a separate worksheet In the same document. 2.Suppose that your salary at age 25 Is $72,500 and that you are paid on a monthly basis. You plan to retire at age 65 and will need 75% of you last ye ar's salary as Income after you retire for living expenses. You have saved $55,000 to date. You want to build your dream home to live out the rest of your life in at age 50. Based on current prices Ana an Notation rate Tanat Is expected to rise at 1% per year Inelegantly, you project this home will cost $1,000,000 to complete. You have some older relatives that have always had an interest in you and have indicated that you are in their wills. Assume that you will inherit $100,000 in 5 years.Assume that you like to travel and plan to take one nice trip every year starting at the end of your first year of retirement until age 75. The average price of the kind of trips you would like to take is $5,000 today and will rise with inflation. You project that your salary will grow at a rate of 2% and that your retirement income needs will grow at 1%. Finally, assume that you expect to live to age 85 and that you wish to have a balance at the end of your life that is equal to the present valu e of 5 years of your needed income. The appropriate interest rate for your working life is 9% and declines to 6% after you tire.Both rates of return are nominal. Assume that growth rate and interest rates are quoted as annual figures and reported as EAR's. A) What % of your monthly salary do you need to start saving to meet your expected needs? Find the solution to this problem by taking all cash flows to the present (I. E. Age 25) b) Verify that your monthly savings from part a plus your initial savings and inheritance described above will allow you to pay for the house at age 50. NOTE: Build a spreadsheet model to answer these two questions and place it in the same document as your answers to questions 1 .

My bondage and my freedom summary Essay

His grandmother was his life, but when he was seven years old she took him to live on a plantation of Colonel Edward Lloyd. Which separated him from his family, brothers and sisters? â€Å"Being a slave made them strangers.† Pg(48) he wrote that he was told that his master was his â€Å"father†. When he describes his younger years on the plantation his mother died and his aunt ester was whipped. When he was a bit older he lived in Baltimore he had a new master Hugh Auld who was a ship carpenter. Fredrick says that he was treated like a pig on the plantation. His master’s wife was teaching him how to read and when his master found out he wanted it stopped immediately. He thought that slaves should know nothing.In the chapters 13-20 at the age of 15 is when he fially escapes freedom. â€Å"One trouble over, and on comes another,† Douglass says â€Å"The slave’s life is full of uncertainty† (pg 170 his particular period of uncertainty begins wit h the death of Captain Anthony, who, Douglass notes, had remained his master â€Å"in fact, and in law,† though he had become â€Å"in form the slave of Master Hugh. Captain Anthony’s death necessitates a division of his human â€Å"property,† and soon afterwards, Hugh Auld sends Douglass to work at his brother Thomas’s plantation ). When Master Thomas finds that severe whippings do not cause â€Å"any visible improvement in [Douglass’] character,† he hires the young slave out to Edward Covey, who is reputed to be â€Å"a first rate hand at breaking young negroes† (pg 203).. The oxen run away, and Covey punishes Douglass harshly. But Douglass does not intend to be broken either, and his year with Covey culminates in a violent fistfight with the overseer. In 1835, Douglass leaves Covey to work for William Freeland, â€Å"a well-bred southern gentleman,† noting that â€Å"he was the best master I ever had, until I became my own master† (pgs 258-268). After an uneventful year, Douglass devises his first escape plan, conspiring with five other young male slaves (pg 279). However, their scheme is detected, Douglass is imprisoned for a time, and finally Thomas Auld sends him back to live with Hugh (pg 303).While working in a Baltimore shipyard as a hired laborer, Douglass is savagely beaten and nearly killed by four white ship  carpenters. Nevertheless, the job allows Douglass to save some money, finally enabling him to make his escape in September 1838. Douglass does not reveal the full details of his escape in My Bondage and My Freedom, fearing that he might â€Å"thereby [prevent] a brother in suffering [from escaping] the chains and fetters of slavery† (p.323). (He narrates his escape in Life and Times of Frederick Douglass, published well after emancipation). Instead, Douglass skips to his first impressions of life in New York: â€Å"less than a week after leaving Baltimore, I was walking amid the hurrying throng, and gazing upon the dazzling wonders of Broadway† (p. 336)Chapter 24 describes Douglass’ tumultuous Atlantic crossing on a ship full of slave-owners, his exploits as a traveling lecturer in England, Ireland, Scotland, and Wales, and the â€Å"many dear friends† abroad who collaborate to purchase Douglass’s freedom from Thomas Auld in 1846 (p 373). Chapter 25 recalls Dou glass’s plan to start a newspaper after returning to the United States, which he realizes with the help of his â€Å"friends in England† despite some unexpected resistance from his abolitionist â€Å"friends in Boston† (p 392-393). This difference of opinion was emblematic of a larger rift between Douglass and the followers of William Lloyd Garrison over various points of political philosophy. Determined to circulate his newspaper from a neutral location, Douglass begins printing The North Star in December 1847 and moves his family to Rochester, New York, in 1848. He concludes My Bondage and My Freedom with a revised mission statement: â€Å"to promote the moral, social, religious, and intellectual elevation of the free colored people . . . to advocate the great and primary work of the universal and unconditional emancipation of my entire race† (p 306)

australias war essays

australias war essays Australias economic and military contribution to the World War 1 allied victory. England entered the First World War on August the 4th 1914, after Germany refused their demands to respect Belgiums neutrality in the war. Australia also entered the war in 1914 for the simple reason it was a British colony, not a sovereign state and it had no choice but to be1 involved in the war. According to Beaumont (1995), Australians felt a deep attachment to England and the outbreak of the war was greeted and embraced in Australia, with great public enthusiasm2. This enthusiasm was due among other reasons to the fact that many of the Australian immigrants and culture had originated from Britain. This deep attachment to the mother country motivated Australia to contribute to and become involved in the allied war effort on many different levels. One of the main contributions Australia made to the allied war effort was its military involvement. Australias first military contribution was its rapid recruitment, formation and dispatch of a military contingent, shortly after the outbreak of the war. Within weeks a force of 20,000 troops, which had previously been promised to the British, was formed, by a flood of volunteers (many thousands of who were rejected because they did not fit the standards of fitness).3 Three months later on the 1st November, 20,000 members of the Australian Imperial Forces (AIF) and two NZ brigades where sailed to Egypt for training. The troops spent four and a half months training in Egypt, until they were sent to the Gallipoli peninsula on the 25th of April 1915, to fight the Turkish. Due to a navigational error the Australian troops landed one mile off course of their intended landing zone, and where faced with unexpectedly perilous and steep terrain. The Australian troops dug in to the steep beach slopes, establishing a tenuous foothold and despite attempts by both sides to overrun...

Financial lit Essay examples

Financial lit Essay examples Financial lit Essay examples Homeowners insurance- coverage that provides protection for your residence and its associated financial risks, such as damage to personal property and injuries to others. Personal Property Floater- additional property insurance that covers the damage or loss of a specific item of high value. Medical payments coverage- pays the cost of minor accidental injuries to visitors on your property. Actual cash value- the payment you receive based on the replacement cost of an item minus depreciation. Replacement value- method for settling claims, you receive the full cost of repairing or replacing an item. Bodily injury liability- insurance that covers physical injuries caused by a vehicle accident for which you are responsible. Uninsured motorist’s protection- insurance that covers you and your family members if you are involved in an accident with an uninsured or hit-and-run driver. Property damage liability- motor vehicle insurance that applies when you damage the property of others. Collision- insurance is insurance that covers damage to your vehicle when it is involved with an accident. No-fault system- arrangement whereby drivers who are involved in accidents collect money from their own insurance companies. Assigned risk pool- group of people who cannot get motor vehicle insurance who are assigned to each insurance company operating in the state. 1. Pet Bites, Legal Defense, Garden Damage, Forged Checks, Grave Markers, and Student Property. 2. Coverage for all personal property,

Barton Corbin Case

Barton Corbin Case On Dec. 4, 2004 Jennifer Corbin was found shot once in the head in her Buford, Georgia home with a handgun beside her. Her 7-year-old son discovered her body and reportedly told police that his dad, Dr. Barton Corbin, had killed his mom. While authorities were investigating the death of Jennifer Corbin in Gwinnett County, a Richmond County grand jury on Dec. 22 indicted Barton Corbin for the 1990 death of Dorothy (Dolly) Hearn, who was Bartons girlfriend in dental school in Augusta. Hearn was found shot to death in her apartment with a gun in her lap. Latest Developments Georgia Dentist Pleads Guilty to Two Murders Previous Developments Judge Allows 1990 Evidence in Gwinnett Trial Hearing Set in Georgia Dentists CaseDec. 20, 2005Attorneys for a Georgia dentist, who is accused of killing is wife in 2004 and his girlfriend in 1990, will argue that jurors in one trial should not hear about charges his faces in another in a hearing set for Feb. 17. Attorneys for Georgia Dentist Fight Murder ChargesOct. 10, 2005Attorneys for Barton Corbin, the Georgia dentist accused of the murder of his wife in December and his former girlfriend 15 years ago, have asked that the charged be dropped in the 1990 case because they said the state waited too long to indict him for the death of Dorothy (Dolly) Hearn. Corbin Pleads Innocent in Wifes DeathJan 27, 2005Barton Corbin entered a not guilty plea in his wifes death, after waiving his right to an arraignment. Georgia Dentist Investigated in Third DeathDec. 7, 2005Dr. Barton Corbin, who has been indicted by two Georgia grand juries in the connection with the Dec. 4 death of his wife and death of his former girlfriend 14 years ago, is now being investigated in connection with the death of a Georgia woman who disappeared in 1996 and was found a year later in her vehicle at the bottom of an Alabama Lake. Barton Indicted for Wifes MurderJan. 5, 2005A Gwinnett County grand jury has indicted Georgia dentist Barton Corbin for murder in the shooting death of his wife Jennifer Corbin, who was found dead in her bedroom with a handgun by her side. Investigators Await Gunshot TestsDec. 28, 2004Prosecutors are waiting for crime lab tests in connection with the shooting death of Jennifer Corbin. The Georgia Bureau of Investigation is performing gunshot residue tests on both Jennifer Corbin and her husband, dentist Barton Corbin. Corbin Indicted in Former Girlfriends DeathDec. 22, 2004The husband of a woman who was found shot in her home two weeks ago has now been indicted for the death of his former girlfriend who was found under similar suspicious circumstances 14 years ago.

Socialization of Generation Essay Example | Topics and Well Written Essays - 1500 words

Socialization of Generation - Essay Example The Gen Xers, on the other hand, were probably attached that label in deference to the dictionary definition of x as an unknown and incomprehensible factor after older people became confused by ideas and attitudes different from theirs. Of course, the Millennials were named as such because they were born at the approach or turn of the new millennium, while the Net generation was so labeled in reference to the advent of the Internet during its time. This paper attempts a critical analysis of why the set of values and norms that one particular generation subscribes to is different from that of the other generation, based on an examination of my own socialization activities as a Gen Xer and those of earlier generations. The year of my birth was 1971, which makes me one of the Gen Xers, who were categorized as those born between 1965 and 1976. My generation came immediately after the Baby Boomers, who were born between 1946 and 1964, and just before the Millennials, who were born in 1977-1998. In my formative years, the major international events that left an indelible impression may be categorized according to their political, social, economic and scientific import. In the political sense, I remember the withdrawal of the US forces from Vietnam in 1972 after a 10-year war of attrition that scandalized much of the world; the Watergate scandal that broke in 1973 and led to Nixon's resignation a year later; the 1972 Black September attack at the Munich Olympics that killed 11 Israeli athletes, which was regarded as the first incident of international terrorism; and the bloody riots triggered by the killing of students by National Guards at Kent State. On the social scene, I recall the hot pants and mi cro-minis for girls, shoulder-length hair and non-traditional clothing for men, streaking nude in public places, the rage for station wagons and RVs (recreational vehicles), and the disco dance craze stoked by the film Saturday Night Live. As for events with economic significance, the first fuel crisis in 1973 stood out, which happened after the Organization of Petroleum Exporting Countries (OPEC) refused to ship oil products to nations that supported Israel in the Yom Kippur War between Syria and Egypt. The single most important science-related breakthrough in my youth was the introduction of home computers through Apple II, Atari and other video games. The influence exerted by these events in the socialization practice of Gen Xers like me may have reflected in the traits commonly associated with our generation, which are independence, resilience and adaptability (Thielfodt & Scheef, 2004). We witnessed officials like Nixon betrayed public trust, peace officers like the National Guards gunned down helpless students, Arab terrorists killed innocent athletes, and organizations like OPEC withheld vital oil supply from the world for selfish political reasons. These were unprecedented and outrageous spectacles at the time that could have bred cynicism in us and taught us to distrust humanity. As a result, people in my generation learned to challenge conventions and to look out for our own selves. The fads

Excercise and Obesity Essay Example | Topics and Well Written Essays - 1000 words - 1

Excercise and Obesity - Essay Example That is, too high caloric intake and too low caloric consumption. A lot of researches about obesity have focused on factors that lead to this imbalance. This paper will basically examine the relationship between obesity and exercise (duration of exercise). Some statistical results suggest that exercise has a negative and statistically significant effect on the probability of being obese. However, taking into consideration the potential endogeneity of exercise duration in the BMI regressions, some studies suggests that there is no negative relationship between obesity and exercise (Plowman & Smith, 2008). Studies that have been carried out to determine the relationship between obesity and exercise; and quite a number of the studies have resulted in general results that obesity is negatively related to the duration of exercise. The studies have generalized a sample to a population. Assumptions are vital concept of empirical studies. Just like any other empirical study, this study applies some statistical assumptions in order to achieve the much needed results. These assumptions include: The following statistical tools can be useful in determining the relationship between obesity and exercise. Correlation techniques can be used to determine the relationship between obesity and exercise. The independent variable of the study is exercise while the dependent variable is obesity. The study can mainly duel on correlation and regression for data analysis. The analysis may involve getting the correlation and regression coefficients for both the variables that affect obesity and that influence duration of income. Correlation coefficient is important in showing whether and how strongly age and income status are related. The study is linear in nature hence Pearson product-moment correlation coefficient can be used to determine the strength and direction of the linear relationship between exercise and obesity. The value of Pearson’s correlation coefficient is influenced

Cognitive biases and decision making Essay Example | Topics and Well Written Essays - 1000 words

Cognitive biases and decision making - Essay Example ob applicant, an interviewer may give a high rating to another applicant who is average at best because they appear more qualified than the previous applicant. Adjustment and anchoring biases may also influence decision making, especially in cases where the individual tends to make judgments on the basis of their initial assessments as anchor, while failing to make sufficient later adjustments (Das & Teng, 1999: p760). For example, an interviewer who has a high-caliber anchor or descriptions of the perfect job candidate may give average applicants substantially higher scores than the interviewer who has anchors of a lower caliber. In this case, evaluation and judgment is not dependent on competence but, rather, on anchors (Das & Teng, 1999: p760). Availability bias also influences the process of decision making, specifically as a result of inaccurate evaluation of event frequency based on the ease of memory recall. The aspects of a specific issue that are unusual and, as a result, more memorable, are more easily recalled and occur more frequently, which negatively influences the process of decision making in most cases. For instance, an interviewer may be influenced more by unfavorable and negative information as compared to more positive information. In such a scenario, availability biases is referent to a condition in which imaginations and beliefs of what could or should happen leads to the ind ividual making the decision remembering similar past situations and applying them to the current situation (Das & Teng, 1999: p760). Confirmation biases also have a unique impact on the decision making process and outcomes. In this case, there is a tendency for the decision-maker to look for evidence in order to confirm pre-conceptions, while ignoring any information that contradicts these pre-conceptions. One scenario that is especially liable to cognitive bias but can be improved through using the right decision making process is an evaluation of appropriate climate

Assignment Example | Topics and Well Written Essays - 1000 words - 31

Assignment Example In the case of Motorola, the site makes explicit reference to the company being a Google firm, also connecting with its customers via the brand cachet of Google and its massive influence in technology and in the decision-making of technology buyers and enthusiasts. The Motorola brand and organization, in this case, leverages the strong brand image of Google among not just that subculture of smart phone users that are heavily into technology in general and in Android and smart phones in general, but also the general mass of consumers who are intimate with Google as both a provider of search and of advertising related to search. Here the Motorola brand makes use of the wide reach of Google through its popular mass media properties too, chief among them YouTube, to also further reinforce its attempt to lure in the mass market customers in different parts of the world. The marketing mix element of price, which is deliberately set low for its mass market phones, is reinforced by its lever aging the Google name in its web pages (Motorola Mobility LLC, 2014). In the case of music marketers like Tower, on the other hand, the key social influences relate to the way the site leverages music icons such as Michael Jackson, who by their stature even post-death constitute a heavy influence on the opinions of music consumers, to lure in a wide demographic of music lovers into its site (Tower.com, 2014). The literature states that certain products lend themselves to heavier advertising than others, because of various aspects of the product, such as the product’s being new; the complexity factor associated with the product and its features and benefits; the need to highlight differentiating factors of the product; intense competition; the novelty of the product requiring intensive education and explanation; and the product being of wide appeal to many different market segments for different purposes, requiring different advertisements that cater

Black Goldcoffee Essay Example | Topics and Well Written Essays - 1250 words

Black Goldcoffee - Essay Example Retail sales from coffee have increased to $80 billion. While many big companies are enjoying the benefit of this profit, many of the coffee farmers in Ethiopia prostrate to poverty, no clean water to drink, can’t send their children to school, and can’t even afford to buy a pair of shoes despite of the fact that Ethiopia is Africa’s top Arabica coffee exporter and known to be the origins of most coffee. This is simply because of the unfair trade of coffee between the developing countries and the first world. The coffee farmers only receive the amount of 3 cents per kilo from their coffee products, not getting a fair reward from their hard work. Their coffee products will go to a series of trading wherein various middlemen will participate to the trading. Many of the middlemen composed of the coffee collectors, coffee suppliers, and coffee exporters do the bidding of these coffee products. Each multi-national companies like Nestle, Proctor and Gamble, Kraft, and Sara Lee has a representative in the trading. The 2 auction price is mainly based on New York ‘C’ market and they are the one who regulate the price of the coffee in the International Market, which means that if the price of the coffee in New York market is 5 cents per kilo, then the price for the coffee will be 5 cents per kilo. From the middlemen, after placing their bids, the coffee product will be sold to coffee exporters and the exporters will then sell the coffee product to the roasters after which will be purchased by the retailers/cafes before it goes to the consumers. The coffee farmers would have benefited more from their product if their product will be directly bought to them by these retailers. The issue on passing of product from one supplier to another made their product poorly priced. And despite they are one of the top coffee producing country in the world, Ethiopia remain to be one of the poorest country being dependent on the foreign aid. Because of t heir desperation to live, these coffee farmers of Ethiopia had diverted to planting chat (narcotic plant) which grows twice a year in their land instead of coffee tree which needs 5 years of nurturing to produce fine beans. For every 30 branches of chat they sell, they are earning $4, incomparable amount than selling coffee beans. Another issue is the unfair trade of Ethiopian coffee and other products of the developing countries. In the documentary, the World Trade Organization has set rules for global trade wherein all participating trader will get their fair trade. However, the rule set by WTO for global trade was believed to be ‘manipulated’ by ‘few’ people and the fair trade issue that supposed to be resolved remained to be unsettled. Ethiopia being one of the poorest countries doesn’t receive subsidiaries. And 3 because of this issue no one can protect or supplement the income of farmers and so, the coffee farmers remained to be poor. Infrastru ctures like schools are also neglected. Classrooms have no quality blackboards to write on and no enough chairs for the students. In an article about the review on â€Å"Black Gold† many government and international bodies have ‘awakened’ to this documentary about the crisis in coffee trade. Trade policies and

Wk 7 law enforcement Essay Example | Topics and Well Written Essays - 500 words

Wk 7 law enforcement - Essay Example It is in light of this that advocates have pushed for the enforcement of laws as the basic requirement for security, rather than the enactment of law. But before laws can be enforced effectively, it is important to have human resource and personnel on the ground. This brings to discussion the issue of community policing as a mechanism of ensuring that law enforcement is enhanced at a localized status (Kelling and Sousa, 2009, p. 41). There is every indication that the presence of the community policing system has caused a lot of positive changes when it comes to the issue of dealing with crime in the area. If for nothing at all, statistics and available data suggests that the manpower in terms of presence of police personnel was increase from a total of fourteen (14) to eighteen (18). As resources were also made available in the form of the provision of logistics like close circuit television (CCTV) and signposts, the rate of crime reduced drastically (Kelling and Sousa, 2009, p. 45). A very strong highpoint is when the quantitative averages in number of serious crimes per work reduced dramatically upon implementation of the community policing interventions. There is no denying the fact that a lot of focus was placed on the prevention of drug related crimes at the intervention stage of the research. However, this could not be considered as a wasteful effort in any since as drug related crimes have often become the basis for several other crimes to be committed (Matisoff et al, 2001). It is for instance a fact that people who deal in drugs always have high demand for money. For this reason, they will be involved in other criminal offences such as robbery and stealing. Consequently, it becomes almost multi-variable approach to give drug offenses a lot of focus. In the light of all this, the study makes it clear that there were other forms of crimes that were also

Black Goldcoffee Essay Example | Topics and Well Written Essays - 1250 words

Black Goldcoffee - Essay Example Retail sales from coffee have increased to $80 billion. While many big companies are enjoying the benefit of this profit, many of the coffee farmers in Ethiopia prostrate to poverty, no clean water to drink, can’t send their children to school, and can’t even afford to buy a pair of shoes despite of the fact that Ethiopia is Africa’s top Arabica coffee exporter and known to be the origins of most coffee. This is simply because of the unfair trade of coffee between the developing countries and the first world. The coffee farmers only receive the amount of 3 cents per kilo from their coffee products, not getting a fair reward from their hard work. Their coffee products will go to a series of trading wherein various middlemen will participate to the trading. Many of the middlemen composed of the coffee collectors, coffee suppliers, and coffee exporters do the bidding of these coffee products. Each multi-national companies like Nestle, Proctor and Gamble, Kraft, and Sara Lee has a representative in the trading. The 2 auction price is mainly based on New York ‘C’ market and they are the one who regulate the price of the coffee in the International Market, which means that if the price of the coffee in New York market is 5 cents per kilo, then the price for the coffee will be 5 cents per kilo. From the middlemen, after placing their bids, the coffee product will be sold to coffee exporters and the exporters will then sell the coffee product to the roasters after which will be purchased by the retailers/cafes before it goes to the consumers. The coffee farmers would have benefited more from their product if their product will be directly bought to them by these retailers. The issue on passing of product from one supplier to another made their product poorly priced. And despite they are one of the top coffee producing country in the world, Ethiopia remain to be one of the poorest country being dependent on the foreign aid. Because of t heir desperation to live, these coffee farmers of Ethiopia had diverted to planting chat (narcotic plant) which grows twice a year in their land instead of coffee tree which needs 5 years of nurturing to produce fine beans. For every 30 branches of chat they sell, they are earning $4, incomparable amount than selling coffee beans. Another issue is the unfair trade of Ethiopian coffee and other products of the developing countries. In the documentary, the World Trade Organization has set rules for global trade wherein all participating trader will get their fair trade. However, the rule set by WTO for global trade was believed to be ‘manipulated’ by ‘few’ people and the fair trade issue that supposed to be resolved remained to be unsettled. Ethiopia being one of the poorest countries doesn’t receive subsidiaries. And 3 because of this issue no one can protect or supplement the income of farmers and so, the coffee farmers remained to be poor. Infrastru ctures like schools are also neglected. Classrooms have no quality blackboards to write on and no enough chairs for the students. In an article about the review on â€Å"Black Gold† many government and international bodies have ‘awakened’ to this documentary about the crisis in coffee trade. Trade policies and

Leading and managing change Essay Example | Topics and Well Written Essays - 3000 words

Leading and managing change - Essay Example here for which trade-offs are necessary they are inconsistencies in reputation or image, different configurations are essential for different positions, etc. A strategy which is framed by an organization enables a firm to achieve the best fit amongst all its activities. In this study a critical analysis will be performed on different theories which describe the major aspects of strategic planning. The entire study would even highlight the difference between operational effectiveness and strategic planning. On the other hand the study would even outline the importance of leadership to manage such strategic planning. These strategy formulations often lead to widespread changes throughout the system. In context of change management it is essential that appropriate leadership approach is adopted so that change can be communicated effectively throughout an organization. It is even important that there is a common goal set for the change so that all team members can efficiently accomplish the set goals or objectives. The company to be focused on is Toyota Motor Corporation. Over the years this multinational corporation has been able to set high quality standards and believes in constantly upgrading its business operations so that best service and products can be delivered to the customers. In this particular study strategic planning objectives and change management initiatives associated with Toyota Company would be thoroughly analyzed and will be related to theoretical frameworks. Strategy is a mechanism which brings forth stability in an organization and there are various factors which actually defines well the concept of strategy. A strategy which is adopted by an organization sets forth a new direction for the organization; it defines an organization, focuses on overall effort of an organization and even provides required consistency so that an organization can achieve its desired goals and objectives (Whittington, 2001). In the present scenario there is an

Naturalism A Movement In The European Drama English Literature Essay

Naturalism A Movement In The European Drama English Literature Essay On the other hand, parallel to Naturalism, another movement was born; Realism. It was a general movement in the 19th century theatre that developed a set of dramatical and theatrical agreements, in order to bring a greater loyalty to real life, to texts and performances. Realism began first in Russia and then it spread in the rest of Europe. Also, the beginning of both Realism and Naturalism happens at the same time as the scientific revolution. Realism of 19th century is connected to the development of modern drama which it began to exist in 1870, with the work of the Norwegian dramatist, Henrik Ibsen. So, the main representatives of Naturalism and Realism are the following: Balzac, Flaubert, Emile Zola, Henrik Ibsen, etc. During Naturalism there were two different literatures: the stage and the novel. In France, for half a century, there were two different styles: the theatrical style and the novelists style. These two styles had nothing in common and a subject which could be put in a book, could not be placed on the stage. In the beginning, we could could in French stage dialogues only for two people, unformed pieces of work, which performed in the public square. But as time passed, halls were built and tragedy and comedy born . M. Victorien Sardou is the actual representative of the comedy with plot. He is the inheritor of M. Scribe. Victorien Sardou removed all the all tricks and put new ones. He is one of the workmen of his period, who work toward their strength for a formula which other people dont have the genius to carry out in its completeness. His work was important and he gave to the public a taste for life and reality. M. Alexandre Dumas fils had done a better work. He is one of the most skilful workmen in the Naturalistic period. We can say that to him, we owe the physiological studies on the stage. Even if he was a bit unmeasured in some points, because of him the play became a problem that had to be solved. Finally, Dumas never used truth in his plays. During the 19th century, the dramatic author is enclosed in a strict frame: he must pay attention in all sorts of necessities. He has to provides truth evidences and try to persuade the audience that what he watches can really happen to anyone. But unfortunately, the theatre wasnt always acceptable from the audience. There have been many rejections of great plays, such as Ghosts from Ibsen- because critics thought that he talks about themes that are abandoned in their society (like syphilis, open relationships between men and women, etc). Actually, I believe that this reaction from the critics -but also from the audience- is accepted, because the themes that playwrights used, were pretty pioneer for that period and for their way of living. Of course the facts that they used happened in reality, but it was pretty unusual to touch themes like these on theatre, and that really socked them in the beginning. But as he can see afterwards, they overcame this way of thinking. At the same period in France Andre Antoine (1858- 1943) continued the great work of Emile Zola and Henrik Ibsen, to France and he opened there the first theatre of Europe, which called Theatre-Libre. His production of Ghosts was the first recorded production of Ibsen in France, but unfortunately they pronounced it a failure. After this, Antoine became a director and he tried to make some modifications in the field of direction. He also became well-known for his stage settings. Finally, Antoine tried to apply a new stage philosophy- that he produced- but not only to the new realistic plays, but also to the classics ( Aeschylus, Sophocles, Shakespeare, etc). Eventually, his productions became very famous. In Germany Otto Brahm (1856-1912) inspired by Antoines Theatre-Libre, open his Freie Buhne in Berlin in 1889 and his first play production was predictably Ghosts by Ibsen. He was for ten years a scholarly critic in Berlin and he was also Germanys leading advocate of Zola, Ibsen and the Naturalistic movement. Brahm, unlike Antoine, was assisted by well-educated actors and directors. Also, he tried to apply his new methods to the classics plays (as Antoine did) without looking back to the results of the previous. He believed that the classics had to live and change with their audiences, because a play may be old but the art of drama is always new and immediate. As we can see, Naturalism and Realism had a big influence in the history and the progress of drama in all the European cities. There were rejections and juxtapositions as it was obvious for that period, but these facts, didnt make Realism and Naturalism to loose their power and their importance in the history of Theatre. Even today these two terms are famous to everyone; only from this you can see the great influence of them, not only in the Theatre, but in many fields of our lives. 1. A Sourcebook on Naturalist Theatre: Ibsens Naturalistic Drama Henrik Ibsens (1823-1906) development as a playwright can only be understood in terms of the cultural battle of Norwegian independence. There was a continuity in the most general thematic terms, between his earlier heroic drama and his naturalistic work. Ibsen would like to represent reality in all of his plays and give to the audience/reader the impression that everything that appears in the play can really happen. In order to succeed this, he used three (3) main things: a) the stress of modernity, b) the individualization of even minor characters, and c) the use of everyday speaking language. Ibsen also believes that the influence of the play has to do with the spectator and the sense of feeling as if he/she was listening, looking at events that do happen in real life. In some plays (e.g.: Ghosts) the critics called him responsible for the opinions expressed by a character in the play and also that the book represents nihilism. But as he replied, nothing really happens. Furthermore, Ibsen had a practical experience as a theatre-director and this helped him with the writing of his plays and the way that he should represent Naturalism in the stage. Finally, as E.F.S. Piggott wrote, all of the characters that Ibsen used were morally deranged, the heroines were dissatisfied and had problems with their marriage, and men/heroes were all villains or foolish. 2. Ibsens Realistic Aesthetic Some of the major realists of 19th century are: Ibsen, Flaubert, Henry James, Balzac, Dickens, George Eliot, etc. all of them have differences between them. Here Ibsen talks about the Realistic Aesthetic. First of all, in literature, the realistic aesthetic focus on reality and downgrade the main subject. Realism maintain that any any subject is suitable to be used, if it represents reality. In other words, the new attitude in realism and naturalism, elevates arts above the subject and the artist is the one who made the subject important. In Flauberts work, the aesthetic dimension is being used very much,especially with irony (like Ibsen). For Ibsen Realistic aesthetic, the old form of drama had been stopped to be valid. Therefore, the struggle of the human spirit, in order to achieve greater authenticity as it moves forward, had to take up and abandon one spiritual drama after another. Finally, the Realistic aesthetic (for Ibsen) can be derived into two more things: a) a highly critical or sceptical attitude towards conventional ideas of reality, and b) from a number of causes (philosophical, moral, historical, social, etc), which undertake a posture of animosity, quickly reciprocated, towards conventional society. Naturalism on the stage- Emile Zola (1840-1902) Emile Zola talks about Naturalism and the meaning of it, about its representatives, novels and theatre of that period, and their characters. He also talks about the novelists of Naturalism and the great evolutions of the stage in France. Zola believes that naturalism exists from the first time that a person began to write. He also insists that naturalism as we know today, began from the savants who had worked like the poets. So, one day they decided to experiment, before they conclude. They abandoned supposed truths and they used analysis, rather than synthesis. This was an evolution for that time. So, the same happened in literature: there were only real characters, a true history of each one and the story of daily life. During Naturalism, novel and stage had nothing in common (especially in France) and a subject that could be put in a book, couldnt be placed in the stage. Balzac and Stendhal were first in the Naturalistic novel, and then Flaubert and, MM Edmond and Jules de Goncourt continued their work. Finally, in the French stage, we meet Victorien Sardou, Alexandre Dumas and Emile Augier who had a great impact in the Naturalist stage of France (each one for a different reason). Naturalism, Realism and The New Wave à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ Naturalism and Realism Some people believe that Naturalism is virtually synonymous with realism. Even Emile Zola (one of the earliest champions of Naturalism) often used the terms interchangeably for Naturalism and Realism. But the New Wave mentioned that Naturalism and Realism different and each one represented two different formal projects. Also, the movement which moved beyond naturalism rejected Naturalism as a particular tradition of theatrical practice and this moved also to the directors, critics and also the writers. In the post-war context, Naturalism was quite a shorthand for the practices of the theatre before 1956, the chosen form of the directors, dramatists and critics that associated with it. Arnold Wesker, one of the most associated with naturalism writer, argued that: Naturalism (and also Realism) doesnt really exist, its an impossibility, because reality is quite obviously every minute detail. Furthermore, one of the main objections to Naturalism was that placed in a second importance questions of form and method. Finally, as Stanislavsky criticised his own work in terms of the defence of Realism and Naturalism, he said that Realism in art is the method that helps to select only the typical from life. If someone is Naturalistic in the stage, it only shows that he/she is not still able to talk about and perform historical and social essence of events and characters. 5. Realism and Naturalism The beginning of Naturalism and Realism happens at the same time as the scientific revolution. The new play was against the romantic form of drama, which was very popular during 19th century. Some of the main representatives of naturalistic and realistic novelists are: Balzac, Flaubert, Zola, Ibsen. When Realism arrived many people seemed to be socked by this, because they were used to the romantic movement, which was different. Realism tried to put on the stage only the things and facts that we can observe in our real life. Emile Zola (1840-1902) was the first who described a naturalistic theory in literature. His novel, Therese Raquin (1873), is the first milestone of the movement. Zola believed that everything had to be real in theatre, in order to persuade the audience. This would happen with characterizations, ordinary people as protagonists, correct use of language and dialogues. Henrik Ibsen (1823-1906) was a playwright who wrote A Dolls House (1879) and Ghosts (1881) both well known for different reasons. In the same period in France, Andre Antoine (1858-1943) opened the Theatre-Libre (1887), where Antoines production of Ghosts was the first production of any play of Ibsen in France and it pronounced a failure. In Germany, at the same time, Otto Brahm (1856-1912) inspired by Antoines theatre, he opened in Berlin the Freie Buhnel Theatre(1889), where his first production was also Ghosts. BIBLIOGRAPHY: Class Handout. Realism and Naturalism Innes, Christopher. A Sourcebook on Naturalistic Theatre. Routledge: London, 2000 Johnston, Brian. Text and Supertext in Ibsens Drama, University Park,PA; London:Pensylvania State, University Press, 1989 Lacey, Stephen. British Realistic Theatre: The New Wave in its Context 1956-1965. London; New York Routledge, 2002 Zola, Emile. The Experimental Novel and Other Essays, translated by Belle M. Sherman. New York: The Cassell Publishing Co., 1893

Malevolent Phantom (To Kill a Mockingbird) :: Free Essay Writer

Malevolent Phantom (To Kill a Mockingbird) â€Å"Vision is the act of seeing things invisible† (Jonathan Swift). In every society there is an underlying darkness that is alienation. Those who fall victim to alienation become the invisible and voiceless members of society. In Society there are few that see alienation. There are even fewer that know it is morally wrong and try to illuminate it. Alienation often goes unseen, but it is always there. The struggle to eliminate it will forever continue. In To Kill A Mockingbird it is children who have not yet learned to be blind, and an enlightened minority that have vision to see the invisible. In To Kill A Mockingbird there is a strong and important theme of alienation and unjust treatment. The fight to eliminate it is represented through Atticus’s efforts. In To Kill A Mockingbird alienation is illustrated through the treatment of characters such as Arthur Radley, Tom Robinson and Mayella Ewell. Throughout the novel there are countless instances of societal discrimination toward these characters. Intolerance and ignorance in society is the cause of alienation. In Maycomb almost every person alienates Arthur Radley. The reader never really understands who Boo Radley is. Instead the reader hears the many opinions of the people in Maycomb. Harper Lee does this on purpose to demonstrate that no one has the right to judge another person because no one can be sure of another person’s position. People of Maycomb choose to believe what they hear about Arthur because â€Å"[p]eople generally see what they look for, and hear what they listen for†¦(174). There are many rumors about Boo Radley, for example some â€Å"[p]eople said he went out at night when the moon was down, and peeped in windows† (9). Stories about Boo are pasted around Maycomb quickly but the truths of injustice are kept quiet. Arthur’s behavior suggests that the lack of tolerance and understanding was apparent to him. Jem explains that he used to think there was â€Å"†¦just one kind of folks†(227). He goes on to say that he understands why Bo o Radley’s stays shut up in the house all the time â€Å"†¦because he wants to stay inside†(227). This suggests that Jem is starting to recognize the injustices in the world around him and is struggling to understand how he will deal with them without alienating himself. No one in Maycomb wants to be the one to rock the boat including Arthur Radley.

Software Piracy in Lebanon :: Software Piracy Expository Essays

Software Piracy in Lebanon Abstract What is it about copying software that is desirable? Simply because it is free. In the United States, one might think twice before copying a Microsoft product. Copyright issues are all over the media --remember Napster? For a period of a year, we read countless stories of students all over the US and the world that were arrested for copying and trading MP3s. However, travel across the Atlantic to the chaotic world of Lebanon and one would not even think twice about copying a version of Microsoft Office 2000. What is the likelihood of getting caught? Pretty much a 0% chance. With political chaos surrounding Lebanon since its independence in 1943, the lack of law enforcement allows a variety of of crimes to occur -- one of the biggest ones being software piracy. About 89% of the software in Lebanon is illegally obtained. Section I gives a brief overview of how the origins of Lebanon. Section II describes the politics of Lebanon. The objective of Section I and Section II is to demonstrate to the reader how the lack of a stable government and any true law enforcement allows for so much piracy. Section III discusses in greater detail software piracy and Intellectual Property protection in Lebanon. Section IV gives the author’s point of view. Sources and endnotes can be found in Section V and Section VI respectively. Section I: Introduction Establishing Lebanon2 The history of the Middle East is rich with an eclectic mix of ethnicities and culture. Before World War I, the region that we now call the Middle East was ruled by the Ottoman Empire. After the end of World War I, the Ottoman Empire diminished. Turkey emerged through the works of the Allies. Mesopotamia, an area filled with tradition and profitable goods, was split between Britain and France. With the support of the French, the Maronites, a sect of the Roman Catholic Church, established a strong political status in what is now modern day Beirut, Tripoli, and most of the Lebanon coast. Starting in the early 1900s, the Maronites had pressed for the expansion of this small Lebanese territory to what they argued was its natural and historical boundaries. Their argument was that the area had always had a unique social and historical character, different from its surroundings, which made it mandatory for the French to grant it as an independent state.

And the Fraud Continues

1. ) Discuss the Internal control weaknesses that existed at MCI that contributed to the commission of this fraud: MCI biggest internal control weaknesses at was Pavlo. Pavlo was able to manipulate MCI account receivable system which he helped to create and develop. When the same employee is able to receive and update payments, the chance of manipulation and embezzlement of funds is very high. By one person being able to record accounts receivable, or even reconcile the company's bank account, he/she may be able to embezzle money from the company. This is what happens to MCI with Pavlo, through the following: a. By writing off a companies account receivables and converting them into notes receivable, Asset are created on the balance sheet. When customers are unable or may not pay their debts, companies may be able to write-off bad debts on their income tax returns. Companies’ accounts receivable can present a problem when only a few employees are available to manage company fi nances. By allowing the same employee to receive payments, update accounts receivable records, and reconcile the company's bank account, he/she may be able to embezzle money from the company. b. Unapplied cash was used for the bad debt and slow payments. By allocations of delinquent or bad receivables, made the expenses related to the write off of the receivables will not be entered on the income statement. c. Credit Holds was used. MCI called customers in regards to their past due account receivables. MCI were told by the customer that they were sending a payment immediately, MCI credited their receivables before receiving the cash. By Pavlo’s manipulating the account receivable it helped him delayed the inevitable. The recognition of bad debt and uncollected receivables that have to be expensed on the income statement. . Identify and justify the approach you would take if you suspected fraudulent activity within an organization where you work: Should I suspect fraudulent activity within an organization. I would investigate the suspected activity and reporting the suspected activity to the correct personnel. The Internal Auditor’s Office should coordinate investigations of fraud, waste, or abuse. Employees shall not de stroy any document or record of any kind that may be relevant to a past, present, or future investigation of fraud, waste, or abuse. The application of professional skepticism is essential any audit investigation. Professional skepticism in auditing implies an attitude that includes a questioning mind and a critical assessment of audit evidence without being obsessively suspicious or skeptical. Don’t make matters worse by getting into legal liability by the way you handle the matter. Do not speak to anyone about the person that's suspected of committing the fraud before reporting it to management. By speaking to someone other than management you could be sued for slander. Consult an attorney who specializes in employment-related matters. When an employee has knowledge of fraud, waste, or abuse has good reason to suspect that such conduct has occurred should adhere to the procedures in the Organization’s Policy. When suspected fraudulent activity, waste, or abuse is observed by, or made known to an employee. The employee should immediately report the activity to his/her direct supervisor. If an employee believes that their supervisor are involved in the activity, he/she should immediately report the activity to the supervisor’s manager as well as the CFO and CEO. If an employee believes that the supervisor’s, management and/or the CEO may be involved with the activity, the employee should either contact the Internal Auditor directly or file a report via the Fraud, Waste, and Abuse Referral System also known as the Fraud, Waste, and Abuse Hotline, (McMullen, A. (2012). When an employee is suspected of any activity, he or she should not make any attempt to investigate the suspected activity prior to reporting it. The Internal Auditor’s Office will coordinate investigations of fraud, waste, or abuse. The employee should not destroy any document or record that he or she knows may be relevant to a past, present, or future investigation of fraud, waste or abuse. Employees that suspect violation or who have questions, complaints or suggestions, should share their concerns with someone who can address them properly. Thus, it's a myth that fraud is a big scheme that should be uncovered sooner and easy to detect. Most all fraud starts small and then gets bigger and bigger, until something becomes noticeably different or unusual. Once fraudulent activity has been noted, someone should take action to investigate the situation and determine if a fraud has been committed. Being aware of these activity are only step one and is usually not enough for the organization. Once these activity are identified, you must take action to determine its effect. Evaluating the fraudulent activity may be accomplished by financial analysis, observation or by any other technique that tests an apparent weakness. Once the analysis is complete it’s time to move on to correct the situation (Wells, 2012). . Critique the ethical nature of Pavlo’s actions in this case: Walt Pavlo, the Credit Collections Manager at MCI Telecommunications, Inc. Falsified MCI accounts receivables and stole $6 million from MCI, spoke of greed, opportunity, and culture. His testimony and facts, however, provides a far different view. This was a willful, active fraud involving a very small group of customers, executed by a very small group of peo ple. As a Fraudsters and white-collar, he acted deliberately, out of greed, power and perhaps even stupidity and ultimately got caught. These perpetrators exhibited many typical fraud behaviors. White-collar criminal that involves embezzlement and breach of trust being the prevalent modes involved. Pavlo had to collect on debts owed to MCI by large corporate clients. Pavlo's job was not easy. MCI extended large amount of credit to high-risk customers and refused to write-off receivables as bad debt. By doing this, MCI was in violation of accounting principles. Pavol was desperate to keep his job, he began to employ suspect accounting techniques to hide the unpaid debt. By falsification of accounting record in contravention of Pavlo, also found a way to siphon off $6 million for personal aggrandizement (Pavlo Jr. and Weinberg, 121). Pavlo claim of trying unsuccessfully to get MCI to take a $180 million charge blatantly conflicts with the facts. In a 2002 article, Pavlo had claimed the number was $88 million. Either inflation has increased his number or he didn’t review his earlier stories! Pavlo’s actions was illegal which would be characterized by deceit, concealment, or violation of trust. Which are not dependent upon the application or threat of force or violence. Pavlo action was a self-centered and motivated by his own greed, without regard for ethics or fiduciary duty to co-workers, and stakeholder (Pavlo Jr. and Weinberg 121). When it comes to Walter Pavlo Jr. and the choices he made. The phrase â€Å"power tends to corrupt and absolute power corrupts absolutely† is false. Having power alone does not have the ability to corrupt, but it does provides one of the three elements necessary for a person to commit a fraudulent act. Trusted persons sometimes become trust violators. When they conceive themselves as having a financial problem which is non-sharable, are aware these problem can be secretly resolved by violation of the position of financial trust and are able to apply to their own conduct which enable them to adjust their conceptions of themselves as trusted (Coenen 2009). Regardless of what moral code may be in place. Corruption occurs when a person breaks the moral code or principle that pertains to him or her. Which is what Pavlo did. According to the fraud triangle, in every instance of fraud three elements are present: motivation, opportunity, and rationalization (Coenen 2009). This theory was developed to help identify possible fraud, a name given to corruption within a business, it also applies to corruption in general. In order for corruption to happen, an individual or group of individuals, must have motivation, opportunity, and significant rationale to justify committing a fraudulent act. Because three elements must harmoniously combine to create an environment in which one may act corruptly, only one of the three elements needs thwarting to break the triangle and prevent corruption (Wells, 2012). All element of the fraud triangle must be present to break a moral code. The first element necessary where corruption may occur is motivation. Motivation can include a financial need, such as the need to take care of an ill parent who is quickly accumulating medical expenses far beyond what his or her family can pay. But motivation to commit a corrupt act can include perceived need also. When a person may be earning enough money to cover all of his or her needs, but he or she may feel driven to commit a corrupt act by a strong desire for a higher standard of living than he or she can not afford. A person may also come motivated by non-financial pressure to commit a corrupt act. A person can also be motivated by non-financial pressure to commit a corrupt act (Pavlo Jr. and Weinberg 121). The second element which must be in place to commit a corrupt act is rationalization. Humans have the complex ability to think deductively, inductively, and process large amounts of information to make rational decisions. Unfortunately, one’s ability to â€Å"employ reason† (rationalize) may or may not lead him or her down the right path. Pavlo’s story provides an excellent example of poor reasoning. Pavlo rationalized stealing from MCI by telling himself that MCI was committing much more heinous crimes than he was. He believed that MCI was so crooked that it could not come after him for doing the much lesser crime of stealing a few accounts receivables (Pavlo Jr. and Weinberg 257). Pavlo’s opportunity to pilfer accounts receivables was granted to him by MCI’s poor control environment. Pavlo often engaged the accounts receivable department in a practice known as accounts receivable lapping, posting payments received from one customer to another’s account to make overdue accounts appear current, in order to meet corporate bad debt expense goals (Pavlo Jr. and Weinberg 101). MCI’s management encouraged and rewarded Pavlo for accounts receivable lapping and many other inventive and extremely illegal acts that helped MCI reach its projected financial numbers. MCI’s flagrant desire to illegally hide its bad debt gave Pavlo the opportunity to conceal the accounts receivable he was thieving within the constant myriad of lies that constituted MCI’s financial department (Wells, 2012). He was involved in asset Misappropriation: Asset misappropriation schemes are frauds in which the perpetrator steals or misuses an organization’s resources. Common examples of asset misappropriation include false invoicing, payroll fraud, and skimming (Kranacher, Riley, and Wells, 2010). Corruption: In the context of occupational fraud, corruption refers to schemes in which fraudsters use their influence in business transactions in a way that violates their duty to their employers in order to obtain a benefit for themselves or someone else. For example, employees might receive or offer bribes, extort funds from third parties, or engage in conflicts of interest. Financial Statement Fraud: The third category of occupational fraud, financial statement fraud, involves the intentional misstatement or omission of material information from the organization’s financial reports; these are the cases of â€Å"cooking the books† that often make front page headlines. Financial statement fraud cases often involve the reporting of fictitious revenues or the concealment of expenses or liabilities in order to make an organization appear more profitable than it really is (Kranacher, Riley and Wells, 2010). It is fact that during 1996, MCI wrote off $120 million of carrier receivables and recognized even more exposure by adding to bad debt reserves. So, his claim that MCI â€Å"hid† bad debt expense is just bogus. He further claims â€Å"his bosses† said the maximum that could be written down would be $15 million, and that is also senseless (Pavlo Jr. and Weinberg 257). 4. Apply one (1) theory related to crime causation to this case: No one theory of crime explains all criminal activity and most theories are complementary to one another. You should approach crime causation with a multidimensional view because of the vast complexities involved in human actions and interactions. With that in mind, let’s take a look at one of the prominent theories that appears to relate to Pavlo’s fraud case. Social engineering/Social learning theory causation: They learn to engage in crime, primarily through their association with others. They are reinforced for crime, they learn beliefs that are favorable to crime, and they are exposed to criminal models. As a consequence, they come to view crime as something that is desirable or at least justifiable in certain situations. The primary version of social learning theory in criminology is that of Ronald Akers and the[pic] description that follows draws heavily on his work. Akers's theory, in turn, represents an elaboration of Edwin Sutherland's differential association theory. The Sociological school of crime causation defines that social disorganization is a major factor in criminal behaviors. Specifically the Sociological Theories theorize that the impact of individuals with the surroundings, groups, and social environment can dictate criminal behavior. Under this school of crime causation crime can be the growth of subgroup relationships (McMullen, 2012). According to Weinberg’s research, white-collar criminals are not just ordinary people; they are smart, well-educated and ambitious. They often start as wide-eye fresh graduate’s at large corporations of which profit-driven culture infiltrates all levels within. Why do they turn out to be the thieves stealing from the economy $2. trillion per year? Weinberg argues that these people like Pavlo, do not just wake up one day and decide to commit in a greed-inspired fraud. In fact, only 7% of perpetrators have prior conviction. They operate business under the performance pressure from investors, and stockholders, which present opportunities for companies to hide flaws and falsify earnings at multiple levels. Wei nberg presents a triangle of Need/Incentives, Opportunity, and Rationalization as a combined force triggering ordinary people to commit extraordinary crimes. In his book, he suggests that by pushing ethics education at school and setting the right tone at the top, we can reduce the damages caused by corporate frauds (Kranacher, Riley, and Wells, 2010). The connection between fraud and the â€Å"tone at the top† of an organization has received international attention over the last few years. Tone at the top refers to the ethical atmosphere that is created in the workplace by the organization's leadership. Whatever tone management sets will have a trickle-down effect on employees of the company. If the tone set by managers upholds ethics and integrity, employees will be more inclined to uphold those same values. However, if upper management appears unconcerned with ethics and focuses solely on the bottom line, employees will be more prone to commit fraud because they feel that ethical conduct is not a focus or priority within the organization. Employees pay close attention to the behavior and actions of their bosses, and they follow their lead. In short, employees will do what they witness their bosses doing (McMullen, 2012).

Indian Sale of Goods Act 1930 Essay

It is a Mercantile Law. The Sale of Goods Act is a kind of Indian Contract Act. It came into existence on 1 July 1930. It is a contract whereby the seller transfers or agrees to transfer the property in the goods to the buyer for prize. A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. Definition 1. Buyer A person who buys or agrees to buy goods. 2. Seller A person who sells or agrees to sell goods. 3. Goods Every kind of movable property other than actionable things and money. Sale of Goods Act is one of very old mercantile law. Sale of Goods is one of the special types of Contract. Initially, this was part of Indian Contract Act itself in chapter VII (sections 76 to 123). Later these sections in Contract Act were deleted, and separate Sale of Goods Act was passed in 1930. The Sale of Goods Act is complimentary to Contract Act. Basic provisions of Contract Act apply to contract of Sale of Goods also. Basic requirements of contract i.e. offer and acceptance, legally enforceable agreement, mutual consent, parties competent to contract, free consent, lawful object, consideration etc. apply to contract of Sale of Goods also. Contract of Sale – A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. [section 4(1)]. A contract of sale may be absolute or conditional. [section 4(2)]. The law relating to sale of goods is contained in the Sale of Goods Act, 1930. It has to be read as part of the Indian Contract Act, 1872 [Sections 2(5) and (3)]. Contract of Sale of Goods According to Section 4, a contract of sale of goods is a contract whereby the seller: (i) transfers or agrees to transfer the property in goods (ii) to the buyer, (iii) for a money consideration called the price. It shows that the expression â€Å"contract of sale† includes both a sale where the seller transfers the ownership of the goods to the buyer, and an agreement to sell where the ownership of goods is to be transferred at a future time or subject to some conditions to be fulfilled later on. The following are thus the essentials of a contract of sale of goods: (i) Bilateral contract: It is a bilateral contract because the property in good has to pass from one party to another. A person cannot buy the goods himself. (ii) Transfer of property: The object of a contract of sale must be the transfer of property (meaning ownership) in goods from one person to another. (iii) Goods: The subject matter must be some goods. (iv) Price or money consideration: The goods must be sold for some price, where the goods are exchanged for goods it is barter, not sale. (v) All essential elements of a valid contract must be present in a contract of sale. features The Act deals with provisions related to the contract of sale of goods The Act deals with provisions of ‘sale’ but not of ‘mortgage’ or ‘pledge’ which come under the purview of Transfer of Property Act, 1882. The Act deals with ‘goods’ but not of all movable goods (ex: actionable claims, money etc.) MEANING OF SALES AND GOODS SALE:- the exchange of a commodity for money; the action of selling something. In general, a transaction between two parties where the buyer receives goods (tangible or intangible), services and/or assets in exchange for money. 2) An agreement between a buyer and seller on the price of a security. The activity or business of selling products or services GOODS:- a good is a product that can be used to satisfy some desire or need. , a good is a material that satisfies human wants and provides utility, for example, to a consumer making a purchase. Condition and warranty.— (1) A stipulation in a contract of sale with reference to goods which are the subject thereof may be a condition or a warranty. (2) A condition is a stipulation essential to the main purpose of the contract, the breach of which gives rise to a right to treat the contract as repudiated. (3) A warranty is a stipulation collateral to the main purpose of the contract, the breach of which gives rise to a claim for damages but not to a right to reject the goods and treat the contract as repudiated. (4) Whether a stipulation in a contract of sale is a condition or a warranty depends in each case on the construction of the contract. A stipulation may be a condition, though called a warranty in the contract. Unpaid seller† defined.— (1) The seller of goods is deemed to be an â€Å"unpaid seller† within the meaning of this Act— (a) when the whole of the price has not been paid or tendered; (b) when a bill of exchange or other negotiable instrument has been received as conditional payment, and the condition on which it was received has not been fulfilled by reason of the dishonour of the instrument or otherwise. (2) In this Chapter, the term â€Å"seller† includes any person who is in the position of a seller, as, for instance, an agent of the seller to whom the bill of lading has been endorsed, or a consignor or agent who has himself paid, or is directly responsible for, the price. Unpaid seller’s rights.— (1) Subject to the provisions of this Act and of any law for the time being in force, notwithstanding that the property in the goods may have passed to the buyer, the unpaid seller of goods, as such, has by implication of law— (a) a lien on the goods for the price while he is in possession of them; (b) in case of the insolvency of the buyer a right of stopping the goods in transit after he has parted with the possession of them; (c) a right of re-sale as limited by this Act. (2) Where the property in goods has not passed to the buyer, the unpaid seller has, in addition to his other remedies, a right of withholding delivery similar to and co-extensive with his rights of lien and stoppage in transit where the property has passed to the buyer. Negotiable Instruments :- The word â€Å"Negotiable† means transferable by delivery and the word instruments means written documents. It entitles a person to a certain sum of money. In simple words we can say it is a written document which is transferable from one person to another by delivery. According to contract act it is defined as , â€Å"A negotiable instrument means a promissory note, bill of exchange or cheque payable by order or bearer.† Example :- Cheques, Bill of Exchange and Promissory Notes are the important examples of negotiable instruments. Characteristics Of Negotiable Instruments :- Following are the important characteristics of negotiable instruments : 1. In Writing :- It is the basic condition of the negotiable instrument that it is always in writing. It can not be verbal. 2. Unconditional :- It is an unconditional instrument if any condition is attached then it can not be called negotiable instrument. 3. Transferable :- It can easily transferable from one person to another. In these instruments right of ownership passes either by delivery or by endorsement. 4. Payable On Demand :- The amount of the instrument is payable on demand or at any predetermination  future time. 5. Payable In Money :- The amount must be written on the instrument and it is always payable in terms of money. 6. Payable To The Bearer :- The amount written on it is payable to the bearer or to a specified person. 7. Payment of Debt :- It can be very easily used for the payment of debt. It is very simple and convenient method of payment. 8. Right of Recovery :- A cheque or Note gives the right to the creditor to recover the written amount from the debtor. He can recover this amount by himself or he can transfer this right to another. 9. Better Title :- If there is a defect in the title of the previous holder it does not affect the holder in due course. So it is abetter little than others. 10. Exception of General Law :- In case of transfer of property the general concept of law is that â€Å"No body can transfer a better title than that of his own.† But in case of instrument this law does not apply. A negotiable instrument even got in good faith from thief is better title. 11. Specified Amount :- It is also a characteristic of negotiable instrument that specified and definite amount is written on the instrument. â€Å"Holder†.—The â€Å"holder† of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive  or recover the amount due thereon from the parties thereto. Where the note, bill or cheque is lost or destroyed, its holder is the person so entitled at the time of such loss or destruction. â€Å"Holder in due course†.—â€Å"Holder in due course† means any person who for consideration became the possessor of a promissory note, bill of exchange or cheque if payable to bearer, or the payee or indorsee thereof, if 1[payable to order], before the amount mentioned in it became payable, and without having sufficient cause to believe that any defect existed in the title of the person from whom he derived his title. . Negotiation by endorsement Subject to the provisions of section 58, a promissory note, bill of exchange or cheque 18[payable to order], is negotiable by the holder by endorsement and delivery thereof. Crossing of cheques A crossed cheque is a cheque that has been marked to specify an instruction about the way it is to be redeemed. A common instruction is to specify that it must be deposited directly into an account with a bank and not immediately cashed by a bank over the counter. What is Crossing of Cheque ? A cheque is a negotiable instrument. During the process of circulation, a cheque may be lost, stolen or the signature of payee may be done by some other person for endorsing it. Under these circumstances the cheque may go into wrong hands.Crossing is a popular device for protecting the drawer and payee of a cheque. Both bearer and order cheques can be crossed. Crossing prevents fraud and wrong payments. Crossing of a cheque means â€Å"Drawing Two Parallel Lines† across the face of the cheque. Thus, crossing is necessary in order to have safety. Crossed cheques must de presented through the bank only because they are not paid at the counter. DISHONOUR OF A CHEQUE:- a cheque which the bank will not pay because there is not enough money in the account to pay it Companies Act 1956 The Companies Act 1956 is an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.[1] The Companies Act 1956 is administered by the Government of India through the Ministry of Corporate Affairs and the Offices of Registrar of Companies, Official Liquidators, Public Trustee, Company Law Board, Director of Inspection, etc. The Registrar of Companies (ROC) handles incorporation of new companies and the administration of running companies. Companies Act In India, the Companies Act, 1956, is the most important piece of legislation that empowers the Central Government to regulate the formation, financing, functioning and winding up of companies. The Act contains the mechanism regarding organisational, financial, managerial and all the relevant aspects of a company. It empowers the Central Government to inspect the books of accounts of a company, to direct special audit, to order investigation into the affairs of a company and to launch prosecution for violation of the Act. These inspections are designed to find out whether the companies conduct their affairs in accordance with the provisions of the Act, whether any unfair practices prejudicial to the public interest are being resorted to by any company or a group of companies and to examine whether there is any mismanagement which may adversely affect any interest of the shareholders, creditors, employees and others. Following are the main characteristics of a company 1. Legal Entity A company is an artificial person created by law. So, it has a separate legal entity from its members. It can hold and deal with any type of property of which it is owner in any way like, can enter into contracts, open bank account in its own name, sue and be sued in its name and capacity. 2. Perpetual Succession Joint stock company is a corporate body. It acquires a separate legal personality difference from its member with a common seal. It does not depend upon the existence of its members. It means company is not at all affected by the death, lunacy or bankruptcy of its members or shareholders.  The shareholders may come or go but the company goes on forever. Only law can terminate its existence. 3. Limited Liability The liabilities of shareholders of the company is limited up to their capital investment only. The liability of the shareholders in the public limited company is limited to the extent of the amount of share, they have subscribed. The shareholders are not liable for the payment of excess claim of the creditors even if capital of the company becomes insufficient. 4. Common Seal However, a company being artificial person, it can not sign on documents like natural person. Therefore, a common seal is used as a substitute of signature. The common seal affixed on all documents of the company. 5. Transferability Of Share Capital The shares of a company are freely transferable from one person to another person except in case of private companies. 6. Separation Of Ownership And Management Every member or shareholder, who is real owner of the company can not take active part in day-to-day management of the company. It is managed and controlled by a board of directors. 7. Maintenance Of Books Of Accounts A company has to keep and maintain a prescribed set of accounting books and any failure in this regard attracts penalties. 8. Audit Of Account And Publication Of Financial Statements It is compulsory for each and every company to get its accounts to be audited. A joint stock company has to publish its financial statement at the end of every fiscal year. Types Of Companies There are different types of company, which can be classified on the basis of formation, liability, ownership, domicile and control. 1. Types Of Companies On The Basis Of Formation Or Incorporation a. Chartered Companies Companies which are incorporated under special charter or proclamation issued by the head of state, are known as chartered companies. The Bank Of England, The East India Company, Chartered Bank etc. are the examples of chartered companies. b. Statutory Companies Companies which are formed or incorporated by a special act of parliament, are known as statutory companies. The activities of such companies are governed by their respective acts and are not required to have any Memorandum or Articles Of Association. c. Registered Companies Registered companies are those companies which are formed by registration under the Company Act. Registered companies may be divided into two categories. * Private Company A company is said to be a private company which by its Memorandum of Association restricts the right of its members to transfer shares, limits the number of its members and does not invite the public to subscribe its shares or debentures. * Public Company A company, which is not private, is known as public company. It needs minimum seven persons for its registration and maximum to the limit of its registered capital. There is no restriction on issue or transfer of its shares and this type of company can invite the public to purchase its shares and debentures. 2. Types Of Companies On The Basis Of Liability Registered companies are divided into two types, namely, companies having limited liability and companies having unlimited liability. a. Companies Having Limited Liability This liability can be limited in two ways: * Liability Limited By Shares These are those companies in which the capital is divided into shares and liability of members (share holders) is limited to the extent of face value of shares held by them. This is the most popular class of company. * Liability Limited By Guarantee These are such companies where shareholders promise to pay a fixed amount to meet the liabilities of the company in the case of liquidation. b. Companies Having Unlimited Liability A company not having any limit on the liability of its members as in the case of a partnership or sole trading concern is an unlimited company. If such a company goes into liquidation, the members can be called upon to pay an unlimited amount even from their private properties to meet the claim of the creditors of the company. 3. Types Of Companies On The Basis Of Ownership a. Government Companies A government company is a company in which at least 51% of the paid up capital has been subscribed by the government. b. Non-government Companies If the government does not subscribe a minimum 51% of the paid up capital, the company will be a non-government company. 4. Types Of Companies On The Basis Of Domicile a. National Companies A company, which is registered in a country by restricting its area of operations within the national boundary of such country is known as a national company. b. Foreign Companies A foreign company is a company having business in a country, but not registered in that country. c. Multinational Companies Multinational companies have their presence and business in two or more countries. In other words, a company, which carries on business activities in more than one country, is known as multinational company. 5. Types Of Companies On The Basis Of Control a. Holding Companies A holding company is a company, which holds all, or majority of the share capital in one or more companies so as to have a controlling interest in such companies. b. Subsidiary Company A company, which operates its business under the control of another company (i.e holding company), is known as a subsidiary company. Memorandum of association The memorandum of association of company, often simply called the memorandum (and then often capitalised as an abbreviation for the official name, which is a proper noun and usually includes other words), is the document that governs the relationship between the company and the outside. It is one of the documents required to incorporate a company in the United Kingdom,[1] Ireland, India, Bangladesh, Pakistan and Sri Lanka, and is also used in many of the common law jurisdictions of the Commonwealth. A Memorandum of Association (MOA) is a legal document prepared in the formation and registration process of a limited liability company to define its relationship with shareholders. The MOA is accessible to the public and describes the company’s name, physical address of registered office, names of shareholders and the distribution of shares. Articles of association In corporate governance, a company’s articles of association (called articles of incorporation in some jurisdictions) is a document which, along with the  memorandum of association (in cases where the memorandum exists) form the company’s constitution, defines the responsibilities of the directors, the kind of business to be undertaken, and the means by which the shareholders exert control over the board of directors. DEFINITION of ‘Articles Of Association’ A document that specifies the regulations for a company’s operations. The articles of association define the company’s purpose and lays out how tasks are to be accomplished within the organization, including the process for appointing directors and how financial records will be handled.