#partenership

I swear that at that moment, he knew he had found his partner. I love Elementary because it maintains the friendship between the man and the woman without there being an adventure between them. She is always there for him and always accompanies him. He knows her more than she knows herself. They are the perfect team.

A Sole Proprietorship is usually the favored choice of organization for small businesses. A proprietorship is simple to start and progress. It is also not compulsory to register a proprietorship.

As the name implies, a sole proprietorship has a single owner. All incomes and profits of the enterprise belong to that of a single person. It also has endless liability. In the case of losses, the proprietor would be liable to settle it out of his/her personal assets as well.

A Sole proprietorship may indeed be perfect for small businesses including limited operations and budgets. It is also not challenging to manage. However, the simple design of the sole proprietorship firm also does not allow for higher growth and expansion. It would not be ideal to produce in higher investment from third parties because ownership is authorized limited to one person. There may not be limitations in selecting outsiders as employees, but there would not be a higher degree of accountability that co-ownership alone can provide. Thus a proprietor may be preferred to explore other opportunities to bring in fresh ideas, approaches, and capital by changing the type of business into a partnership.

The profits starting from the business can be divided among the partners according to a previously accepted ratio based on the capital invested or evenly. A partnership would great than a sole proprietorship in case the firm is growing. It would be ideal to develop by introducing fresh capital and innovative plans by new partners. Collective ownership also appears in combined decision making which would be more useful than individual decisions. Achievement of plans can also happen better with increased strengths and expenses.

 Procedure For Conversion Proprietorship Into A Partnership

Partnership Deed

Drafting of the Partnership Deed would be the primary step in the growth of a sole proprietorship into a partnership firm. The most important addition in the deed should be the explanation about the sole proprietorship which is being transformed into a partnership by combining more partners and bringing in investment. Care should be taken to enter the details of the capital invested by each partner, salaries and shares in profits to be paid to partners, rate of interest on the capital, profit-sharing device, and duties in case of losses. The procedure for extra admission and removal of partners should be given onward with the procedure to dissolve the partnership. There should be no reason for the uncertainty that may lead to future discussions.

Features To Be Included About The Sole Proprietorship

The following details may be included, like date of creation of the sole proprietorship, the identity of the proprietor, the address where the company exists, the type of business, and other important features such as VAT and Service Tax registration.

Registration

Global insurance brokerage firm, Marsh announced that it will extend its partnership with IBM as part of its proof-of-insurance blockchain solution, a press release confirmed on Wednesday, September 26th.

Airplanes contribute significantly to the total emissions created by the transportation sector. The European Commission has described aviation as "one of the fastest-growing sources of greenhouse gas emissions."  While the auto industry is going more and more electric, now aviation is probably the next step.

Indeed, Easyjet could be flying battery-powered electric planes within the next decade. The UK-based airline has linked up with US firm Wright Electric to develop a battery-powered aircraft that could be used for flights under two hours for example for short haul flights like London-Paris. As EasyJet is an airline specialized in shorter flights, the new aircraft would cover 20% of its passenger journeys.

The aim of this project is to build an aircraft range of 335 miles, which would carry up to 120 passengers. According to Wright Electric, every short haul flight could be electric within 20 years. However, for now, the firm has only built a two-seater prototype and is working towards a 10-seater aircraft.

This collaboration with Wright Electric is completely part of the Easyjet‘s strategy to decarbonize and cute noise from aviation operations : Wright Electric claimed that electric planes will be 50% quieter and 10% cheaper for airlines to buy and operate !

EasyJet is, until today, the first major airline to commit to developing all-electric aircraft. Yesterday low-cost airlines shook up air transportation industry, tomorrow it would maybe revolutionize the aircraft manufacturing.

Sources :

https://www.theguardian.com/business/2017/sep/27/easyjet-electric-planes-wright-electric-flights

https://www.dezeen.com/2017/09/28/easyjet-will-fly-electric-planes-in-next-ten-years-news/