A Human Character to the Corporation From a Moral Perspective Research Paper

A Human Character to the Corporation From a Moral Perspective - Research Paper Example Corporations law and partnership law are currently separate. However, current amendments to the Partnership Act of 1892 (NSW) have made provision for LLP and ILPs, with the facility of limited liability being extended in these cases to promote innovation and risk-taking. While this could address the limited use of partnerships due to their inability to restrict liability5, it also allows for benefits to be gleaned by foreign investors and large entrepreneurs, promoting a capitalistic structure that may not necessarily be beneficial to Australian interests. If the limited liability benefits of a corporation are to be extended to small partnership like arrangements of a few Directors who also share profits among themselves as in the Ebrahimi case, then the taxation laws must be amended 6 and the Partnership Act of New South Wales must be amended to permit such business to take advantage of tax reforms. This will enable issues of fairness and equity of a partnership where partners/inves tors owe each other a duty of good faith to co-exist successfully with the limited liability of corporations. The purpose of including disclosure through prospectuses for securities was mainly (a) to protect investors from underlying risks (b) enhance the efficiency of the securities market and (c) prevent fraud. Ruth Hines discovered that although the financial statements that are a part of such reports are considered vital, only those experienced in accounting were able to understand them sufficiently to make their decisions on the basis of those reports.

Both sides of free trade Research Paper Example | Topics and Well Written Essays - 1750 words

Both sides of free trade - Research Paper Example ironmental sustainability, the citification mechanism of producers in exporting countries and certification of products in importing countries and creating awareness of such products among consumers of the developed world (Singh, 2001). On the other hand free trade is a global effort to carry out international trade free of negative protectionist practices such as higher tariffs on imports, subsidies to domestic producers, foreign exchange restrictions, dumping cheaper goods abroad, imposing dubious standards on imports and import substitution by propping up unwieldy domestic industries. Theoretically free trade is based on neoliberal economic principles dating back to Ricardo’s argument on the principle of comparative advantage. Free trade and fair trade aren’t necessarily the same though some of the ultimate outcomes would converge. In fact divergences between the two are many and if free trade were practiced with full force indeed, fair trade would take a back seat. Globalization has been the catch word used by many who advocate free trade. Such people vehemently support all and everything in the name of free trade. On the other hand fair trade is a distant cousin of free trade. An inevitable aspect of this relationship between the two is that the former is marginalized while the latter is well placed at the center of the global market. Fair trade is essentially replete with intricate nuances ranging from market access facilitation processes to marginalized producers to sustainability efforts. Such noble principles need some theoretical and conceptual frameworks to support them though. Free trade theories are many while the principle of comparative advantage is the most predominant among them. The basis on which free trade is advocated by its supporters is determined by a series of arguments which in turn are associated with neoliberal perspectives. In the first place globalization is the logical premise used by supporters of international free trade to