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A new project designed to improve the quality of public policy-related articles on Wikipedia has been announced. It is the first time the Wikimedia Foundation has launched a project designed to systematically increase the quality of articles in a particular topic area. Read more (11 May 2010)

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From Wikipedia, the free encyclopedia

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This article is an orphan, as few or no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (November 2008)

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The Midatlantic Music Conference is an annual event started in 2001 in Charlotte, North Carolina that aims at providing the national and international scene a noteworthy view of the Midatlantic regions unsigned talent and music industry professionals.The three day weekend is composed of educational panels, networking events and talent showcasing. It was founded by Wholeteam Enterprises members: Kysii Ingram, James Caldwell, and Glen Hicks.
In 2008, the event celebrates its seventh year in existence. Through its past, it has been successful in bridging the gap between nationally known industry professionals with unsigned aspiring artists. The event has brought in Music Publishing Directors, Music Supervisors for Film and TV, A&R Directors from many different Record Labels, Entertainment Attorneys, studio personnel, radio personalities, and more. Some of its attendees have gone on to make Grammy award winning music, successful songwriting, and placement in acclaimed media.
The networking and educational portion of the conference has brought together

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The Business and economics Portal

Shortcut: P:BEP

In the social sciences, economics is the study of human choice behavior and the methodology used in making production decisions; in particular, though not limited to, how those choices and decisions determine the allocation of scarce resources and their effect on production, distribution, and consumption. Economics studies how individuals and societies seek to satisfy needs and wants through incentives, choices, and allocations within a given set of resource constraints. Alfred Marshall in the late 19th century informally described economics as "the study of man in the ordinary business of life." The word "economics" is from the Greek words οἶκος [oikos], meaning "family, household, estate," and νόμος [nomos], or "custom, law," and hence literally means "household management" or "management of the state." An economist is a person using economic concepts and data in the course of employment, or someone who has earned a university degree in the subject.

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Capital

Mexican Stock Exchange in Paseo de la Reforma, Mexico City

When businesses need to raise money (called 'capital'), more laws come into play. A highly complex set of laws and regulations govern the offer and sale of investment securities (the means of raising money) in most Western countries. These regulations can require disclosure of a lot of specific financial and other information about the business and give buyers certain remedies. Because "securities" is a very broad term, most investment transactions will be potentially subject to these laws, unless a special exemption is available.
Capital may be raised through private means, by public offer (IPO) on a stock exchange, or in many other ways. Major stock exchanges include the Shanghai Stock Exchange, Singapore Exchange, Hong Kong Stock

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Most commercial transactions are governed by a very detailed and well-established body of rules that have evolved over a very long period of time, it being the case that governing trade and commerce was a strong driving force in the creation of law and courts in Western civilization.
As for other laws that regulate or impact businesses, in many countries it is all but impossible to chronicle them all in a single reference source. There are laws governing treatment of labor and generally relations with employees, safety and protection issues (Health and Safety), anti-discrimination laws (age, gender, disabilities, race, and in some jurisdictions, sexual orientation), minimum wage laws, union laws, workers compensation laws, and annual vacation or working hours time.

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1. General partners in a partnership (other than a limited liability partnership), plus anyone who personally owns and operates a business without creating a separate legal entity, are personally liable for the debts and obligations of the business.
2. Generally, corporations are required to pay tax just like "real" people. In some tax systems, this can give rise to so-called double taxation, because first the corporation pays tax on the profit, and then when the corporation distributes its profits to its owners, individuals have to include dividends in their income when they complete their personal tax returns, at which point a second layer of income tax is imposed.
3. In most countries, there are laws which treat small corporations differently than large ones. They may be exempt from certain legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or slightly different tax treatment.

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The sector and country. Private profit-making businesses are different from government-owned bodies. In some countries, certain businesses are legally obliged to be organized in certain ways.

Limited liability. Corporations, limited liability partnerships, and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, unincorporated businesses or persons working on their own are usually not so protected.

Tax advantages. Different structures are treated differently in tax law, and may have advantages for this reason.

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The sector and country. Private profit-making businesses are different from government-owned bodies. In some countries, certain businesses are legally obliged to be organized in certain ways.

Limited liability. Corporations, limited liability partnerships, and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, unincorporated businesses or persons working on their own are usually not so protected.

Tax advantages. Different structures are treated differently in tax law, and may have advantages for this reason.

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Manufacturers produce products, from raw materials or component parts, which they then sell at a profit. Companies that make physical goods, such as cars or pipes, are considered manufacturers.

Real estate businesses generate profit from the selling, renting, and development of properties, homes, and buildings.

Retailers and Distributors act as middle-men in getting goods produced by manufacturers to the intended consumer, generating a profit as a result of providing sales or distribution services. Most consumer-oriented stores and catalogue companies are distributors or retailers. See also: Franchising

Service businesses offer intangible goods or services and typically generate a profit by charging for labor or other services provided to government, other businesses, or consumers. Organizations ranging from house decorators to consulting firms, restaurants, and even entertainers are types of service businesses.

Transportation businesses deliver goods and individuals from location to location, generating a profit on the transportation costs

Utilities produce public services, such as heat, electricity, or sewage treatment, and are usually government chartered.

There are many other divisions and subdivisions of businesses. The authoritative list of business types for North America is generally considered to be the North American Industry Classification System, or NAICS. The equivalent European Union list is the Statistical Classification of Economic Activities in the European Community (NACE).

[edit] Management

The efficient and effective operation of a business, and study of this subject, is called management. The main branches of management are financial management, marketing management, human resource management, strategic management, production management, operation management, service management and information technology management.

[edit] Reforming State Enterprises

In recent decades, assets and enterprises that were run by various states have been modeled after business enterprises. In 2003, the People's Republic of China reformed 80% of its state-owned enterprises and modeled them on a company-type management system.^[2] Many state institutions and enterprises in China and Russia have been transformed into joint-stock companies, with part of their shares being listed on public stock markets.

[edit] Organization and government regulation

This section may require cleanup to meet Wikipedia's quality standards. Please improve this section if you can. The talk page may contain suggestions. (August 2007)

The examples and perspective in this section may not represent a worldwide view of the subject. Please improve this article and discuss the issue on the talk page. (May 2009)

Most legal jurisdictions specify the forms of ownership that a business can take, creating a body of commercial law for each type.
The major factors affecting how a business is organized are usually:

The Bank of England in Threadneedle Street, London, England.

• The size and scope of the business firm and its structure, management, and ownership, broadly analyzed in the theory of the firm. Generally a smaller business is more flexible, while larger businesses, or those with wider ownership or more formal structures, will usually tend to be organized as corporations or (less often) partnerships. In addition, a business that wishes to raise money on a stock market or to be owned by a wide range of people will often be required to adopt a specific legal form to do so.
• The sector and country. Private profit-making businesses are different from government-owned bodies. In some countries, certain businesses are legally obliged to be organized in certain ways.
• Limited liability. Corporations, limited liability partnerships, and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, unincorporated businesses or persons working on their own are usually not so protected.
• Tax advantages. Different structures are treated differently in tax law, and may have advantages for this reason.
• Disclosure and compliance requirements. Different business structures may be required to make less or more information public (or report it to relevant authorities), and may be bound to comply with different rules and regulations.

• • Theory of the firm /* See also */ under *Economics : *Theory of the firm

Many businesses are operated through a separate entity such as a corporation or a partnership (either formed with or without limited liability). Most legal jurisdictions allow people to organize such an entity by filing certain charter documents with the relevant Secretary of State or equivalent and complying with certain other ongoing obligations. The relationships and legal rights of shareholders, limited partners, or members are governed partly by the charter documents and partly by the law of the jurisdiction where the entity is organized. Generally speaking, shareholders in a corporation, limited partners in a limited partnership, and members in a limited liability company are shielded from personal liability for the debts and obligations of the entity, which is legally treated as a separate "person". This means that unless there is misconduct, the owner's own possessions are strongly protected in law if the business does not succeed.
Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership. The terms of a partnership are partly governed by a partnership agreement if one is created, and partly by the law of the jurisdiction where the partnership is located. No paperwork or filing is necessary to create a partnership, and without an agreement, the relationships and legal rights of the partners will be entirely governed by the law of the jurisdiction where the partnership is located.
A single person who owns and runs a business is commonly known as a sole proprietor, whether that person owns it directly or through a formally organized entity.
A few relevant factors to consider in deciding how to operate a business include:

1. General partners in a partnership (other than a limited liability partnership), plus anyone who personally owns and operates a business without creating a separate legal entity, are personally liable for the debts and obligations of the business.
2. Generally, corporations are required to pay tax just like "real" people. In some tax systems, this can give rise to so-called double taxation, because first the corporation pays tax on the profit, and then when the corporation distributes its profits to its owners, individuals have to include dividends in their income when they complete their personal tax returns, at which point a second layer of income tax is imposed.
3. In most countries, there are laws which treat small corporations differently than large ones. They may be exempt from certain legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or slightly different tax treatment.
4. To "go public" (sometimes called IPO) -- which basically means to allow a part of the business to be owned by a wider range of investors or the public in general—you must organize a separate entity, which is usually required to comply with a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public LLCs that sell units (sometimes also called shares), and other more exotic entities as well (for example, REITs in the USA, Unit Trusts in the UK). However, you cannot take a general partnership "public."

[edit] Commercial law

Main article: Commercial law

Offices in the Los Angeles Downtown Financial District

Most commercial transactions are governed by a very detailed and well-established body of rules that have evolved over a very long period of time, it being the case that governing trade and commerce was a strong driving force in the creation of law and courts in Western civilization.
As for other laws that regulate or impact businesses, in many countries it is all but impossible to chronicle them all in a single reference source. There are laws governing treatment of labor and generally relations with employees, safety and protection issues (Health and Safety), anti-discrimination laws (age, gender, disabilities, race, and in some jurisdictions, sexual orientation), minimum wage laws, union laws, workers compensation laws, and annual vacation or working hours time.
In some specialized businesses, there may also be licenses required, either due to special laws that govern entry into certain trades, occupations or professions, which may require special education, or by local governments. Professions that require special licenses range from law and medicine to flying airplanes to selling liquor to radio broadcasting to selling investment securities to selling used cars to roofing. Local jurisdictions may also require special licenses and taxes just to operate a business without regard to the type of business involved.
Some businesses are subject to ongoing special regulation. These industries include, for example, public utilities, investment securities, banking, insurance, broadcasting, aviation, and health care providers. Environmental regulations are also very complex and can impact many kinds of businesses in unexpected ways.

[edit] Capital

Mexican Stock Exchange in Paseo de la Reforma, Mexico City

When businesses need to raise money (called 'capital'), more laws come into play. A highly complex set of laws and regulations govern the offer and sale of investment securities (the means of raising money) in most Western countries. These regulations can require disclosure of a lot of specific financial and other information about the business and give buyers certain remedies. Because "securities" is a very broad term, most investment transactions will be potentially subject to these laws, unless a special exemption is available.
Capital may be raised through private means, by public offer (IPO) on a stock exchange, or in many other ways. Major stock exchanges include the Shanghai Stock Exchange, Singapore Exchange, Hong Kong Stock Exchange, New York Stock Exchange and Nasdaq (USA), the London Stock Exchange (UK), the Tokyo Stock Exchange (Japan), and so on. Most countries with capital markets have at least one.
Businesses that have gone "public" are subject to extremely detailed and complicated regulation about their internal governance (such as how executive officers' compensation is determined) and when and how information is disclosed to the public and their shareholders. In the United States, these regulations are primarily implemented and enforced by the United States Securities and Exchange Commission (SEC). Other Western nations have comparable regulatory bodies. The regulations are implemented and enforced by the China Securities Regulation Commission (CSRC), in China. In Singapore, the regulation authority is Monetary Authority of Singapore (MAS), and in Hong Kong, it is Securities and Futures Commission (SFC).
As noted at the beginning, it is impossible to enumerate all of the types of laws and regulations that impact on business today. In fact, these laws have become so numerous and complex, that no business lawyer can learn them all, forcing increasing specialization among corporate attorneys. It is not unheard of for teams of 5 to 10 attorneys to be required to handle certain kinds of corporate transactions, due to the sprawling nature of modern regulation. Commercial law spans general corporate law, employment and labor law, health-care law, securities law, M&A law (who specialize in acquisitions), tax law, ERISA law (ERISA in the United States governs employee benefit plans), food and drug regulatory law, intellectual property law (specializing in copyrights, patents, trademarks and such), telecommunications law, and more.
In Thailand, for example, it is necessary to register a particular amount of capital for each employee, and pay a fee to the government for the amount of capital registered. There is no legal requirement to prove that this capital actually exists, the only requirement is to pay the fee. Overall, processes like this are detrimental to the development and GDP of a country, but often exist in "feudal" developing countries.

[edit] Intellectual property

Businesses often have important "intellectual property" that needs protection from competitors for the company to stay profitable. This could require patents or copyrights or preservation of trade secrets. Most businesses have names, logos and similar branding techniques that could benefit from trademarking. Patents and copyrights in the United States are largely governed by federal law, while trade secrets and trademarking are mostly a matter of state law. Because of the nature of intellectual property, a business needs protection in every jurisdiction in which they are concerned about competitors. Many countries are signatories to international treaties concerning intellectual property, and thus companies registered in these countries are subject to national laws bound by these treaties.

[edit] See also

Main article: Outline of business

Accounting List of accounting topics Advertising Banking Big business Business acumen Business broker Business ethics List of business ethics topics Social responsibility Business hours Business mediator Business schools Business trip Capitalism Change management analyst Commerce

List of business law topics Company Corporate law Corporation Cooperative Cost overrun Economics Economic democracy Financial economics List of economics topics Electronic commerce E-business Entrepreneurship Finance List of finance topics Franchising Government ownership

Human Resources List of human resource management topics Industry Insurance Intellectual property Interim Management International trade List of international trade topics Investment Job creation program Labor[disambiguation needed] Limited liability List of oldest companies Management List of management topics Management information systems List of information technology management topics

Manufacturing List of production topics Marketing List of marketing topics Money Organizational studies Profit Partnership Real Estate List of real estate topics Renewable Energy Revenue shortfall Small business Sole proprietorship Strategic Management Strategic Planning Types of business entity Trade name

Business and economics portal

	Book:Business
Books are collections of articles that can be downloaded or ordered in print.

[edit] Notes and references

1. ^ Sullivan, arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 29. ISBN 0-13-063085-3. 
2. ^ People.com

[edit] External links

Find more about Business on Wikipedia's sister projects:
	Definitions from Wiktionary
	Images and media from Commons
	Learning resources from Wikiversity
	News stories from Wikinews
	Quotations from Wikiquote
	Source texts from Wikisource
	Textbooks from Wikibooks

Retrieved from "http://en.wikipedia.org/wiki/Business"

Categories: Business

Hidden categories: Articles lacking reliable references from September 2008 | Articles needing cleanup from February 2009 | All pages needing cleanup | Wikipedia indefinitely move-protected pages | Wikipedia articles needing cleanup from August 2007 | All articles needing cleanup | Articles with limited geographic scope from May 2009 | Articles with links needing disambiguation

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[edit] I have removed:

RECENT EVENTS
Since 2002, the global step of reduction of costs and optimization of resources became a legal constraint, an obligation for all the highly-rated corporations or unquoted in the stock exchange.
Everything began with the law SARBANNES-OXLEY in the United States in 2002 who returned compulsory internal control. From 2003, Canada and European Economic Community took measures aiming at identical objectives.
See :
* Internal control * Integration of the internal control
This looks like it belongs in a different article: Maybe cost management or corporate governance. mydogategodshat 06:16, 21 Jan 2004 (UTC)
Describing everything in terms of "corporations" rather than companies is very US English. Here corporation tends to be a quasi government body like the BBC (C=corporation), or the local council bin collectors. Does anyone mind if we put in the English English version? Also I think limited liability is a big enough concept to be in this article?(talk)--BozMo 21:14, 9 May 2004 (UTC)

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gay bashing"
Can someone please that gay bashing textbox they put under "Public Limited Company" I couldn't find a way to get rid of it.
--User: AlphaXIII 09:40, 08 Feb 2007 (UTC)

[edit] "business itself is an evil"

I do not understand the purpose of the quote "business is in itself an evil" is included in this article. It appears to be representative of a narrow point of view, one with which many people would disagree, and adds nothing to the readers understanding. Perhaps it should be removed?

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Business Studies is defined at the top of the article as "Business Studies, the study of the management of individuals to maintain collective productivity..."
This definition disagrees with both the Business Studies article and my experience, in the fact that Business Studies does not soley study the management of individuals, but also accounting, economics, logistics, marketing, and the management of factors other than people.
The definition in the article could be true for the US, but in the UK at least Business Studies is seen as a broad degree covering all aspects of studying the corporation. Management Studies, a separate institution, fits the definition better, although Management Studies still isn't as specific as the

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