Ownership is the state or fact of legal possession and control over property , which may be any asset, tangible or intangible . Ownership can involve multiple rights, collectively referred to as title , which may be separated and held by different parties.
87-511: The process and mechanics of ownership are fairly complex: one can gain, transfer, and lose ownership of property in a number of ways. To acquire property one can purchase it with money , trade it for other property, win it in a bet, receive it as a gift , inherit it, find it, receive it as damages , earn it by doing work or performing services, make it, or homestead it. One can transfer or lose ownership of property by selling it for money , exchanging it for other property, giving it as
174-400: A communist nation, the means of production of goods would be owned communally by all people of that nation; the original thinkers did not specify rules and regulations. Personal property is a type of property . In the common law systems personal property may also be called chattels . It is distinguished from real property , or real estate . In the civil law systems personal property
261-496: A cooperative (also co-operative or co-op, in German Wohnungsgenossenschaft – apartment co-operative, also " Wohnbaugenossenschaft " or simply " Baugenossenschaft ") which relies heavily on internal rules of operation instead of the legal framework governing condominium associations. These "co-ops", owning the building for the mutual benefit of its members, can ultimately perform most of the functions of
348-401: A cushion against losses or as a means to finance growth activities. Examples of this are not-for-profit entities: they are allowed to make profits, but are not permitted to give any of it back to members except by way of discounts in the future on new transactions. Depending on the charter at the foundation of the entity, and depending on the legal framework under which the entity was created,
435-434: A fee) is considered to be unauthorized practice of law. But other variations are subject to interpretation and conflicting regulation, particularly as to the scope and breadth of the prohibition. Black's Law Dictionary defines unauthorized practice of law as "The practice of law by a person, typically a nonlawyer, who has not been licensed or admitted to practice law in a given jurisdiction." The Restatement (Third) of
522-422: A gift, misplacing it, or having it stripped from one's ownership through legal means such as eviction , foreclosure , seizure , or taking . Ownership implies that the owner of a property also owns any economic benefits or deficits associated with the property. Over the millennia and across cultures, notions regarding what constitutes "property" and how it is treated culturally have varied widely. Ownership
609-441: A legally constituted condominium, i.e. restricting use appropriately and containing financial liabilities to within tolerable levels. To change their structure now that they are up and operating would require significant effort to achieve acceptance among members and various levels of government. The owning entity makes rules governing use of property; each property may comprise areas that are made available to any and every member of
696-708: A major area of business . An individual or group of individuals can own shares in corporations and other legal entities , but do not necessarily own the entities themselves. A legal entity is a legal construct through which the law allows a group of natural persons to act as if it were an individual for certain purposes. Some duly incorporated entities may not be owned by individuals nor by other entities; they exist without being owned once they are created. Not being owned, they cannot be bought and sold. Mutual life insurance companies, credit unions , foundations and cooperatives , not for profit organizations, and public corporations are examples of this. No person can purchase
783-462: A particular subset of intellectual property known as industrial property . Like other forms of property, intellectual property (or rather the exclusive rights which subsist in the IP) can be transferred ( with or without consideration) or licensed to third parties. In some jurisdictions it is possible to use intellectual property as collateral for a loan . The basic public policy rationale for
870-427: A side note, equipment bought for Research and Development are not added to inventory, but are capitalized as assets . The revised acquisition process for major systems in the U.S. Department of Defense is shown in the next figure. The process is defined by a series of phases during which technology is defined and matured into viable concepts, which are subsequently developed and readied for production, after which
957-430: A slightly more formal process. This process may involve the user providing quotes from three separate suppliers. Purchasing may be asked or required to obtain the quotes. The formal bid process starts as low as $ 10,000 or as high as $ 100,000 depending on the organization. The bid usually involves a specific form the bidder fills out and must be returned by a specified deadline. Depending on the commodity being purchased and
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#17327808943921044-413: A surplus or profit, which may be retained inside the entity or distributed among owners according to the initial setup intent when the entity was created. For public corporations, common shareholders have no right to receive any of the profit. Entities with a member focus will give financial surplus back to members according to the volume of financial activity that the participating member generated for
1131-432: A technical representative of the company (usually an engineer) will review the proposal and designate each bidder as either technically acceptable or technically unacceptable. Technical evaluation is usually carried out against a set of pre-determined technical evaluation criteria. There are two types of criteria, general criteria (whereby scores are given if they are met) and essential criteria (failing of which shall render
1218-581: A variety of ways, such as goods , money , negotiable instruments , securities , and intangible assets including choses in action . Real estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings . Real estate (immovable property) is often considered synonymous with real property , in contrast from personal property (also sometimes called chattel or personalty ). However, for technical purposes, some people prefer to distinguish real estate, referring to
1305-661: Is a lawyer; (b) derives a benefit from UPL, or (c) causes an injury by UPL. In a 2015 survey by the American Bar Association, Florida had the largest budget—$ 1.8 million—nationwide for prosecuting the unauthorized practice of law. The state has interest in protecting the public from having unqualified persons hold themselves out as licensed professionals, but the existence of laws against unauthorized practice of itself does not guarantee that unlicensed professionals will be detected and those laws enforced. The American Bar Association proposed model rules regarding
1392-404: Is an act sometimes prohibited by statute , regulation , or court rules. The definition of "unauthorized practice of law" is variable, and is often conclusory and tautological , i.e. , it is the doing of a lawyer's or counselor 's work by a non-lawyer for money. There is some agreement that appearing in a legally constituted court in a legal proceeding to represent clients (particularly for
1479-614: Is applied to the professional services of a lawyer or attorney at law , barrister , solicitor , or civil law notary . However, there is a substantial amount of overlap between the practice of law and various other professions where clients are represented by agents . These professions include real estate , banking , accounting , and insurance . Moreover, a growing number of legal document assistants (LDAs) are offering services which have traditionally been offered only by lawyers and their employee paralegals. Many documents may now be created by computer -assisted drafting libraries, where
1566-438: Is more controversial is out-of-court activities, particularly drafting of documents and giving advice, and whether that is considered to be unauthorized practice of law. Some states have defined the "practice of law" to include those who appear as a representative in arbitration or act as arbitrators in disputes. For example, there is a growing conflict between the multijurisdictional practice of law in arbitration proceedings in
1653-417: Is not always done in order of importance, but rather in order of expense. Often purchasing managers research potential bidders obtaining information on the organizations and products from media sources and their own industry contacts. Additionally, purchasing might send Request for Information (RFI) to potential suppliers to help gather information. Engineering would also inspect sample products to determine if
1740-430: Is now available to negotiate major purchases and setting up of other long-term contracts. These contracts are typically renewable annually. This trend away from the daily procurement function (tactical purchasing) resulted in several changes in the industry. The first was the reduction of personnel. Purchasing departments were now smaller. There was no need for the army of clerks processing orders for individual parts as in
1827-425: Is often called movable property or movables – any property that can be moved from one location or another. This term is used to distinguish property that different from immovable property or immovables, such as land and buildings. This also means the direct owner of the item(s) is in full control of them/it until either stolen, confiscated by law enforcement , or destroyed. Personal property may be classified in
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#17327808943921914-495: Is ongoing debate as to whether IP laws truly operate to confer the stated public benefits, and whether the protection they are said to provide is appropriate in the context of innovation derived from such things as traditional knowledge and folklore, and patents for software and business methods . Manifestations of this controversy can be seen in the way different jurisdictions decide whether to grant intellectual property protection in relation to subject matter of this kind, and
2001-472: Is taken into consideration during the evaluation stage primarily to calculate for freight costs and regional issues. For instance, it is common in Europe for factories to close during the month of August for a summer holiday. Labor agreements may also be taken into consideration and may be drawn into the evaluation if the particular region is known to have frequent labor disputes. The manufacturing lead-time
2088-536: Is the basis for many other concepts that form the foundations of ancient and modern societies such as money , trade , debt , bankruptcy , the criminality of theft , and private vs. public property. Ownership is the key building block in the development of the capitalist socio-economic system. Adam Smith stated that one of the sacred laws of justice was to guard a person's property and possessions. Individuals may own property directly. In some societies only adult men may own property; in other societies (such as
2175-411: Is the organized bar's preferred method. In Florida, the unauthorized practice of law is a third degree felony, which is punishable by up to six months in prison and $ 5000 in fines. New Jersey has a law which makes it a " disorderly persons offense" to knowingly to engage in the unauthorized practice of law, and a "crime in the fourth degree" to commit UPL if one (a) creates a false impression that one
2262-407: Is the process where the organization identifies potential suppliers for specified supplies, services or equipment. These suppliers' credentials and history are analyzed, with the products or services they offer. The bidder selection process varies from organization to organization, but can include running credit reports, interviewing management, testing products, and touring facilities. This process
2349-427: Is the time from the placement of the order (or time final drawings are submitted by the buyer to the seller) until the goods are manufactured and prepared for delivery. Lead-times vary by commodity and can range from several days to years. Transportation time is evaluated while comparing the delivery of goods to the buyer's required use-date. If goods are shipped from a remote port, with infrequent vessel transportation,
2436-466: Is the use of company credit cards, also known as " Purchasing Cards " or simply "P-Cards". P-card programs vary, but all of them have internal checks and audits to ensure appropriate use. Purchasing managers realized once contracts for the low dollar value consumables are in place, procurement can take a smaller role in the operation and use of the contracts. There is still oversight in the forms of audits and monthly statement reviews, but most of their time
2523-555: The American Civil War . Chattel slavery is currently (2020) illegal in every country in the world. However, until the 19th century slavery in one form or another existed in most societies and was thought of as the normal state of things; slaves of whatever ethnicity were considered racially inferior. Notwithstanding the illegality of enslavement, virtual slavery still exists in various forms today, although called by other names. The question of ownership reaches back to
2610-625: The Free On Board (FOB) policy of the trade. For the purchaser, this new inventory is added on shipment if the policy was FOB shipping point, and the seller remove this item from its inventory. On the other hand, the purchaser added this inventory on receipt if the policy was FOB destination, and the seller remove this item from its inventory when it was delivered. Goods bought for the purpose other than direct selling, such as for Research and Development , are added to inventory and allocated to Research and Development expense as they are used. On
2697-483: The Haudenosaunee ), property is matrilinear and passed on from mother to the offspring. In most societies both men and women can own property with no restrictions and limitations at all. Throughout history, nations (or governments ) and religious organizations have owned property. These entities exist primarily for purposes other than to own or operate property; hence, they may have no clear rules regarding
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2784-523: The Tragedy of the Commons , occurs where unlimited unrestricted and unregulated access to a resource (e.g. pasture land) destroys the resource because of over-exploitation . The benefits of exploitation accrue to individuals immediately, while the costs of policing or enforcing appropriate use, and the losses dues to over exploitation, are distributed among many, and are only visible to these gradually. In
2871-515: The ancient philosophers , Plato and Aristotle , who held different opinions on the subject. Plato (428/427 BC – 348/347 BC) thought private property created divisive inequalities, while Aristotle (384 BC – 322 BC) thought private property enabled people to receive the full benefit of their labor . Private property can circumvent what is now referred to as the " tragedy of the commons " problem, where people tend to degrade common property more than they do private property. While Aristotle justified
2958-552: The disposition of their property. To own and operate property, structures (often known today as legal entities ) have been created in many societies throughout history. The differences in how they deal with members' rights is a key factor in determining their type. Each type has advantages and disadvantages derived from their means of recognizing or disregarding (rewarding or not) contributions of financial capital or personal effort. Cooperatives , corporations , trusts , partnerships , and condominium associations are only some of
3045-460: The Americas, Europe, and Australia. Other organizations may be looking to purchase domestically to ensure a quicker response to orders as well as easier collaboration on design and production. Organizational goals will dictate the criteria for the selection process of bidders. It is also possible that the product or service being procured is so specialized that the number of bidders are limited and
3132-466: The IP. The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect, and that IP rights may be protected at law in the same way as any other form of property . Intellectual property laws confer a bundle of exclusive rights in relation to the particular form or manner in which ideas or information are expressed or manifested, and not in relation to
3219-826: The Law Governing Lawyers notes: The definitions and tests employed by courts to delineate unauthorized practice by non-lawyers have been vague or conclusory, while jurisdictions have differed significantly in describing what constitutes unauthorized practice in particular areas. Certain activities, such as the representation of another person in litigation, are generally proscribed. Even in that area, many jurisdictions recognize exceptions for such matters as small-claims and landlord-tenant tribunals and certain proceedings in administrative agencies. Moreover, many jurisdictions have authorized law students and others not locally admitted to represent indigent persons or others as part of clinical legal education programs. ... What
3306-467: The UK's Ministry of Defence has a separate internal policy for low value purchasing valued below £10,000. When the receiving department is not involved, it is typically called a two-way check or two-way purchase order. In this situation, the purchasing department issues the purchase order receipt not required. When an invoice arrives against the order, the accounts payable department will then go directly to
3393-411: The actual bid. Examples of these factors are history of the bidder with the company, history of the bidder with the company's senior management at other firms, and bidder's breadth of products. Technical evaluations, evaluations of the technical suitability of the quoted goods or services, if required, are normally performed prior to the commercial evaluation. During this phase of the procurement process,
3480-504: The administrative costs associated with the repetitive ordering of basic consumable items , "blanket" or "master" agreements were put into place. These types of agreements typically have a longer duration and increased scope to maximize the quantities of scale concept. When additional supplies were required, a simple release would be issued to the supplier to provide the goods or services. Another method of decreasing administrative costs associated with repetitive contracts for common material,
3567-513: The bar of a particular state or other territorial jurisdiction . The American Bar Association and the American Law Institute are among the organizations that are concerned with the interests of lawyers as a profession and the promulgation of uniform standards of professionalism and ethics, but regulation of the practice of law is left to the individual states, and their definitions vary. "Unauthorized practice of law" (UPL)
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3654-399: The bid technically disqualified). Cost of Money is calculated by multiplying the applicable currency's interest rate by the amount of money paid prior to the receipt of the goods. If the money was to have remained in the buyer's account, interest would be drawn. That interest is essentially an additional cost associated with such progress or milestone payments. The manufacturing location
3741-432: The buyer and the employer, buyer's cost savings can result in the creation of value to the business, and may result in a flat-rate bonus, or a percentage payout to the purchasing agent of the documented cost savings. Purchasing departments, while they can be considered as a support function of the key business, are actually revenue generating departments. For example, if the company needs to buy US$ 30 million of widgets and
3828-416: The buyer's other requirements such as an on-time delivery, compliance to the commercial terms and conditions (including the warranty , the transfer of risk, assignment, auditing rights, confidentiality , remedies, etc.). Good negotiators, those with high levels of documented "cost savings", receive a premium within the industry relative to their compensation . Depending on the employment agreement between
3915-473: The clients are asked a series of questions that are posed by the software in order to construct the legal documents . In addition, regulatory consulting firms also provide advisory services on regulatory compliance that were traditionally provided exclusively by law firms. In the United States , the practice of law is conditioned upon admission to practice of law , and specifically admission to
4002-403: The company or organisation can produce products they need. If the bidder passes both of these stages engineering may decide to do some testing on the materials to further verify quality standards. These tests can be expensive and involve significant time of multiple technicians and engineers. Engineering management must make this decision based on the cost of the products they are likely to procure,
4089-402: The company, as their ownership is not legally available for sale, neither as shares nor as a single whole. Intellectual property (IP) refers to a legal entitlement which sometimes attaches to the expressed form of an idea , or to some other intangible subject matter. This legal entitlement generally enables its holder to exercise exclusive rights of use in relation to the subject matter of
4176-489: The criteria must be very wide to permit competition. If only one firm can meet the specifications for the product then the purchasing managers must consider utilizing a “Sole Source” option or work with engineering to broaden the specifications if the project will permit alteration in the specifications. The sole source option is the part of the selection of bidders that acknowledges there is sometimes only one reasonable supplier for some services or products. This can be because of
4263-637: The entire supply function . In these roles they were able to add value and maximize savings for organizations. This value was manifested in lower inventories , fewer personnel, and getting the end product to the consumer quicker. Purchasing managers' success in these roles resulted in new assignments outside to the traditional purchasing function – logistics, materials management, distribution, and warehousing. More and more purchasing managers were becoming Supply Chain Managers handling additional functions of their organization's operation. Purchasing managers were not
4350-425: The entity itself may give rise to unlimited personal liability for each and every member. An example of this situation is a professional partnership (e.g. law practice ) in some jurisdictions . Thus, being a partner or owner in a group may give little advantage in terms of share ownership while producing a lot of risk to the partner, owner or participant. At the end of each fiscal year , accounting rules determine
4437-417: The entity. Examples of this are producer cooperatives, buyer cooperatives and participating whole life policyholders in both mutual and share-capital insurance companies . Entities with shared voting rights that depend on financial capital distribute surplus among shareholders without regard to any other contribution to the entity. Depending on internal rules and regulations, certain classes of shares have
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#17327808943924524-465: The existence of private ownership, he left two open questions In modern western politics , some people believe that exclusive ownership of property underlies much social injustice, and facilitates tyranny and oppression on an individual and societal scale. Others consider the striving to achieve greater ownership of wealth as the driving factor behind human innovation and technological advancement and increasing standards of living . Some support
4611-735: The financial service industry and state regulation of lawyers. With a few exceptions, the general rule is that an appearance at an arbitration does not constitute the practice of law. The United States bankruptcy court for the Eastern District of Tennessee has held that "providing clients with explanations or definitions of such legal terms of art ... is, by itself, giving legal advice." The North Carolina State Bar has held that "definition of lien law terms, warnings regarding time requirements, and reminders about sending out preliminary notices within five to ten days of beginning work, when combined with its preparation of legal documents [in
4698-431: The form of ownership is determined once and for all time. To change it requires significant work in terms of communicating with stakeholders (member-owners, governments, etc.) and acquiring their approval. Whatever structural constraints or disadvantages exist at the creation thus remain an integral part of the entity. Common in, for instance, New York City , Hamburg , and Berlin is a form of real estate ownership known as
4785-645: The government's role in health care and retirement saving . Purchase Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations. Purchasing is part of the wider procurement process, which typically also includes expediting , supplier quality, transportation, and logistics . Purchasing managers/directors, procurement managers/directors, or staff based in an organization's Purchasing Office, guide
4872-420: The group to use. When the group is the entire nation, the same principle is in effect whether the property is small (e.g. picnic rest stops along highways ) or large (such as national parks , highways, ports, and publicly owned buildings). Smaller examples of shared use include common areas such as lobbies, entrance hallways and passages to adjacent buildings. One disadvantage of communal ownership, known as
4959-434: The ideas or concepts themselves (see idea-expression divide ). The term "intellectual property" denotes the specific legal rights which authors, inventors and other IP holders may hold and exercise, and not the intellectual work itself. Intellectual property laws are designed to protect different forms of intangible subject matter, although in some cases there is a degree of overlap. Patents, trademarks and designs fall into
5046-427: The importance of the bidders’ product to production, and other factors. Credit checks, interviewing management, touring plants as well as other steps could all be utilized if engineering, manufacturing, and supply chain managers decide they could help their decision and the cost is justifiable. Other organizations might have minority procurement goals to consider in selection of bidders. Organizations identify goals in
5133-561: The individual is protected from losing more than the value of that one property. Many other properties are protected, when owned by other distinct entities. In the loosest sense of group ownership, a lack of legal framework, rules and regulations may mean that group ownership of property places each member in a position of responsibility (liability) for the actions of every other member. A structured group duly constituted as an entity under law may still not protect members from being personally liable for each other's actions. Court decisions against
5220-412: The land and fixtures themselves, from real property, referring to ownership rights over real estate. The terms real estate and real property are used primarily in common law , while civil law jurisdictions refer instead to immovable property . In law, the word real means relating to a thing (from Latin reālis, ultimately from rēs , 'matter' or 'thing'), as distinguished from a person. Thus
5307-416: The latter view, believing that ownership is necessary for liberty itself. Ownership society was a political slogan used by United States President George W. Bush to promote a series of policies aimed to increase the control of individual citizens over health care and social security payments and policies. Critics have claimed that slogan hid an agenda that sought to implement tax cuts and curtail
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#17327808943925394-408: The law broadly distinguishes between real property (land and anything affixed to it) and personal property (everything else, e.g., clothing, furniture, money). The conceptual difference is between immovable property, which would transfer title along with the land, and movable property, which a person would retain title to. With the development of private property ownership, real estate has become
5481-785: The limited applications for the product cannot support more than one manufacturer, proximity of the service provided, or the products are newly designed or invented and competition is not yet available. This is the process an organization utilizes to procure goods, services or equipment. Processes vary significantly from the stringent to the very informal. Large corporations and governmental entities are most likely to have stringent and formal processes. These processes can utilize specialized bid forms that require specific procedures and detail. The very stringent procedures require bids to be open by several staff from various departments to ensure fairness and impartiality. Responses are usually very detailed. Bidders not responding exactly as specified and following
5568-541: The manner described], constitute providing legal advice." Texas law generally prohibits a person who is not an attorney from representing a client in a personal injury or property damage matter, and punishes a violation as a misdemeanor. Some states also criminalize the separate behavior of falsely claiming to be lawyer (in Texas, for example, this is a felony if done to obtain economic benefit). Criminal laws and enforcement of "Unauthorized Practice of Law (UPL)" statutes
5655-436: The many varied types of structured ownership; each type has many subtypes. Legal advantages or restrictions on various types of structured ownership have existed in many societies past and present. To govern how assets are to be used, shared, or treated, rules and regulations may be legally imposed or internally adopted or decreed. Ownership by definition does not necessarily imply a responsibility to others for actions regarding
5742-597: The old statute in State Bar v. Arizona Land Title & Trust Co. , 90 Ariz. 76 (1961). This ruling imposed sanctions on a title and realty company engaged in drafting contracts. Rose says, "Throughout the country, various jurisdictions have developed numerous tests for defining the practice of law. But none is broader nor more all-encompassing than that articulated in Arizona Title ." In the United States,
5829-565: The only ones to become Supply Chain Managers. Logistic managers, material managers, distribution managers, etc. all rose to the broader function and some had responsibility for the purchasing functions now. In accounting , purchases is the amount of goods a company bought throughout this year. It also refers to information as to the kind, quality, quantity, and cost of goods bought that should be maintained. They are added to inventory . Purchases are offset by purchase discounts and Purchase Returns and Allowances . When it should be added depends on
5916-412: The organization the bid may specify a weighted evaluation criterion. Other bids would be evaluated at the discretion of purchasing or the end users. Some bids could be evaluated by a cross-functional committee. Other bids may be evaluated by the end user or the buyer in purchasing. Especially in small, private firms the bidders could be evaluated on criteria or factors that have little if anything to do with
6003-421: The organization's acquisition procedures and standards and operational purchasing activities. Most organizations use a three-way check as the foundation of their purchasing programs. This involves three departments in the organization completing separate parts of the acquisition process. The three departments do not all report to the same senior manager, to prevent unethical practices and lend credibility to
6090-407: The past. Another change was the focus on negotiating contracts and procurement of large capital equipment. Both of these functions permitted purchasing departments to make the biggest financial contribution to the organization. A new term and job title emerged – Strategic sourcing and Sourcing Managers. These professionals not only focused on the bidding process and negotiating with suppliers , but
6177-765: The power of the state to limit entry." The practice of law was not formally regulated in Arizona for a time. However, the Arizona Supreme Court found independent inherent authority to regulate the practice of law. Arizona's statute criminalizing unauthorized practice of law was allowed to lapse from a sunset law in 1985. Rose suggests that legislative proposals to recriminalize the unauthorized practice of law have heretofore failed because of anti-lawyer sentiment in Arizona politics. Moreover, Rose asserts that resentment lingers from an unpopular interpretation of
6264-417: The process. These departments can be purchasing, receiving and accounts payable; or engineering, purchasing and accounts payable ; or a plant manager, purchasing and accounts payable. Combinations can vary significantly, but a purchasing department and accounts payable are usually two of the three departments involved. Organizations typically have simpler procedures in place for low value purchasing, for example
6351-403: The property. A "legal shield" is said to exist if the entity's legal liabilities do not get redistributed among the entity's owners or members. An application of this, to limit ownership risks, is to form a new entity (such as a shell company ) to purchase, own and operate each property. Since the entity is separate and distinct from others, if a problem occurs which leads to a massive liability,
6438-432: The protection of intellectual property is that IP laws facilitate and encourage disclosure of innovation into the public domain for the common good , by granting authors and inventors exclusive rights to exploit their works and invention for a limited period. However, various schools of thought are critical of the very concept of intellectual property, and some characterise IP as intellectual protectionism . There
6525-406: The published procedures can be disqualified. Smaller private businesses are more likely to have less formal procedures. Bids can be in the form of an email to all of the bidders specifying products or services. Responses by bidders can be detailed or just the proposed dollar amount. Most bid processes are multi-tiered. Acquisitions under a specified dollar amount can be “user discretion” permitting
6612-420: The purchasing department secures the widgets for $ 25M USD, the purchasing department would have saved the company $ 5M USD. That savings could exceed the annual budget of the department, which in effect would pay the department's overhead - the employee's salaries, computers, office space, etc. Post-award administration typically consists of making minor changes, additions or subtractions, that in some way change
6699-402: The request or to choose who ever they want. This level can be as low as $ 100 or as high as $ 10,000 depending on the organization. The rationale is the savings realized by processing these request the same as expensive items is minimal and does not justify the time and expense. Purchasing departments watch for abuses of the user discretion privilege. Acquisitions in a mid range can be processed with
6786-466: The requestor of the purchase order to verify that the goods or services were received. This is typically what is done for goods and services that will bypass the receiving department. A few examples are software delivered electronically, NRE work (non-reoccurring engineering services), consulting hours, etc. Historically, the purchasing department issued purchase orders for supplies, services, equipment, and raw materials . Then, in an effort to decrease
6873-423: The right to receive increases in financial "dividends" while other classes do not. After many years the increase over time is substantial if the business is profitable. Examples of this are common shares and preferred shares in private or publicly listed share capital corporations. Entities with a focus on providing service in perpetuam do not distribute financial surplus; they must retain it. It will then serve as
6960-466: The rules of professional conduct generally prohibit an attorney from assisting a non-attorney from engaging in the unauthorized practice of law. An attorney therefore may not partner with or split fees with a non-attorney in the performance of any sort of legal work. Furthermore, an attorney may not employ a disbarred or suspended attorney in a legal practice where former clients of the disbarred or suspended attorney will be represented. In Singapore , it
7047-408: The stark divide on issues of the role and scope of intellectual property laws. The term "Slavery" is commonly understood to refer to chattel slavery. The living human body is, in modern societies, considered something which cannot be the property of anyone but the person whose body it is. Its opposite, in which the person in the body does not own their body, is chattel slavery . Chattel slavery
7134-515: The systems produced are supported in the field. The process allows for a given system to enter the process at any of the development phases. For example, a system using unproven technology would enter at the beginning stages of the process and would proceed through a lengthy period of technology maturation, while a system based on mature and proven technologies might enter directly into engineering development or, conceivably, even production. The process itself includes four phases of development: This
7221-555: The terms of the agreement or the seller's scope of supply. Such changes are often minor, but for auditing purposes must be documented into the existing agreement. Examples include increasing the quantity of a line Item or changing the metallurgy of a particular component. Is the closing of order. Practice of law In its most general sense, the practice of law involves giving legal advice to clients, drafting legal documents for clients, and representing clients in legal negotiations and court proceedings such as lawsuits , and
7308-435: The transportation time could exceed the schedule and adjustments would need to be made. Delivery Charges - the charge for the goods to be delivered to a stated point. Negotiating is a key skillset in the purchasing field. One of the goals of purchasing agents is to acquire goods per the most advantageous terms of the buying entity (or simply, the "buyer"). Purchasing agents typically attempt to decrease costs while meeting
7395-465: The unauthorized practice of law, which Judge Richard Posner characterized as an attempt to perpetuate a monopoly to the disadvantage of consumers. The judge observed that the legal profession is "a cartel of providers of services relating to society's laws" which cartel's focus is to restrict entry. "Modern economists call it ' rent seeking ', but throughout recorded history, skilled crafts and professions have tried to raise their members' incomes by using
7482-457: The use of woman-owned or minority-owned businesses . Significant utilizing of minority suppliers may qualify the firm as a potential bidder for a contract with a company or governmental entity looking to increase their minority supplier programs. This selection process can include or exclude international suppliers depending on organizational goals and criteria. Companies looking to increase their pacific rim supplier base may exclude suppliers from
7569-459: Was defined as the absolute legal ownership of a person, including the legal right to buy and sell them. Persons who were so enslaved did not have the freedom to direct their own actions, and their legal rights were either severely limited or nonexistent. The Antebellum period in the United States is considered both the worst for the exploitation of chattel slaves, and also where the practice aroused such fierce opposition and support that it led to
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