Forms Of Partnerships And International Law †MyAssignmenthelp.com

Question: Discuss about the Forms Of Partnerships And International Law. Answer: Introduction A partnership form of business is a convenient form of business but there must be rules and practices that must be complied with while establishing the business. A partnership business may be defined as an association of two or more persons who carry out the business operations either on share profits or as co-owners. A partnership for of business may amount to capital investment in the business project or services in return for a share of profits (Cohen, 2017). There are three forms of partnerships- general partnership, joint ventures and limited partnerships. Where in case of general partnerships that partners are equally liable for each and every responsibilities and divide the same between themselves along with the profits of the company; in joint ventures, partnership exist for a particular period or for a particular project. Limited partnerships include partners who play a significant role in the management of the business and simply invest money, thus, having a limited role to play in the management operations of the company. Since these partners have retained or exercises control over the operations of the partnership form of business, they are exempted from the liabilities that arises from the operations of the management and the partnership shall not affect the limited partner significantly (Cohen, 2017). Product Design and Development Several organizations have a product out approach and are organized into vertical departments that are designed to emphasize on a single service or product. While this can assist the organizations to deliver their products quickly, it does not foster cross-department learning or collaboration and neither has it supported a long-term view of the customers experience with respect to several services or products (Chau, 2016). It is beneficial if the organizations adapt to the Design Thinking process and the senior executives must encourage and support such cross-functional collaboration, thus, encouraging the employees to not only just deliver individual projects but to deliver experiences all over the channels periodically. The design thinking approach is considered as an outstanding methodology as it uncover insights and considers perspective of the customers, encouraging collaboration, however, this approach cannot be said to be the solution for all the challenges that is experienced at every phase of design to delivery. Manufacturing In regards to the U.S based computer-manufacturing organisation, it will be registered as a partnership business with the sole objective makes it global. However, there are certain challenges that area associated with the design and the delivery phase of the computer parts. Firstly, it is imperative to register a design from being copied by any other person. In order to register a design, it must be new and there is no identical design that has been made available to public prior to the registration of such design (Rouge, 2016). The grace period provision enables the creator of design to subject the product to test in the market before registering the same. The challenges that may arise here is that the provisions of registration is not similar in all countries and if such design is made available to the public before registering the same, the design may not be subjected to protection in other countries under such circumstances. Further, it is likely that others may copy the design before the design is registered. The other obstacles associated with registration of design is that if such design is inconsistent with the public policy and is against the accepted principles of morality, it shall not be registered Transportation The manufacturers are usually not regarded as an essential part of the early design process but they usually have better knowledge about availability of the product. The collaboration of contractors and engineers with the manufacturers at the time of commencement of the project may result in reduction of time to market, optimization of quality for their products and reduction in expenses. The contractor shall be involved in the design processes due to their expertise in that area which would assist others to comprehend the decisions associated with it. This process often reduces questions, errors and change orders that usually take place in the absence of coordination. The parties involved often assist with the principle of decision-making and collaborative innovation by working on the project at the time of commencement of the project and implementing ideas that are economic in nature at the very beginning of the project (NJ Group, 2018). Obstacles faced during design to deliver There may be another significant issue that may arise during the phase of design to delivery, which is related to multiparty agreement. A multiparty agreement is a contract that includes all the concerned parties of the project. A multiparty agreement is formed to develop a unified group and to eliminate separate contracts and motives. This multiparty agreement is different from the traditional methods wherein each entity has their own separate contract with each of the concerned groups. This is a significant issue as it exhibits a transition from traditional method to modern design-build relationship method (Chau, 2016). Nevertheless, there are several obstacles associated with the application of uniform marketing policies such as less flexibility, reduction of choices, small ranges, competitive environment, difference in customer attitudes etc. Legal solutions International marketing may be defined as a management process where the management is responsible for anticipating, identifying and satisfying the customer requirements all over the international boundaries (Davidson, 2017). The companies who usually enter into international markets faces challenges after considering options whether they will have to standardize or adapt to the elements of their marketing mix. The product standardization strategy refers to a uniform representation of all aspects of a product including the materials, quality, name of the product, and packaging of the products for all market irrespective of the location wherein the NJ Pvt Ltd wishes to expand its market for the product in North America. On the contrary, the most challenging decision that a NJ Pvt Ltd may have to experience with respect to internationalization is the extent to which NJ Pvt Ltd has been able to adapt or standardize its business operations. The question pertaining to adaptation or standardization affects all the avenues of the business operations, which includes finance, production, Research and Development, Organizational structure, marketing mix and procurement. It is completely dependent on the attitudes of the NJ Pvt Ltd towards different cultures whether such company will select to adapt or standardize its operations. Standardization is a practice of setting identical characteristics in respect of any particular service or goods apart from promoting the standardized approach of one size fits all. The standardization of products is also considered as an effective method to reduce expenses and enhance quality of the product. This is because by minimizing the differences in the products, it enables to enhance production, streamline distribution and reduce the costs of raw materials thus, encouraging to reinforce branding. An effective standardization strategy enables to strike a balance between the necessity to target the adaptation and expenses saved due to such standardization (Pinto, 2015). The standardization of the computer products, service design as well as delivery of the standardized product shall assist the NJ Private ltd to optimize the productivity. It would enable NJ Pvt Ltd to achieve lowest unit cost, global economy of scale, which amounts to essential aspects of economics that is, product or the product orientation (Pinto, 2015). The obstacles can be dealt with product adaptation as it encompasses the special modifications and changes that are made to make adjustments in respective market. It is important for the organizations to adapt to the culture, climate/geography of the countries where the product is purported to expand its market. Adaptation of products is considered as a marketing strategy where new services or products are subjected to modification on the basis of the prevailing services and products (Argenti, 2015). In a partnership form of business, in the absence of a written agreement, partners usually do not draw a salary and are entitled to share the profits and losses equally. Although it is always a good idea to have a written agreement but given that partnerships results in unique business relationships, it is not mandatory to be in written agreement. It is better to cover significant issues related to the business to be in writing to avert situations where a partner might feel that the other partners are not equally involved in the business operations (Argenti, 2015). In regards to the liability arising out of partnership agreements, if the partners are unable to pay off the creditors, lenders or suppliers, the partners shall become personally liable to such creditors to pay off such debts. There may arise situations where conflicts between the partners turn into a dispute that ultimately threatens the legality of the partnership. Such disputes include allegations of misconduct committed by one of the parties, disagreements relating to the terms of the agreement or disputes pertaining to business management. In order to avert such situations from arising or to deal with such disputes, it imperative to understand the obligations of partnership and such comprehension of partnership obligations should be set out in the agreement (Davidson, 2017). A comprehensive and a good partnership agreement should be developed to clarify the understanding and the expectations, which is considered as an essential method to reduce any such disputes. The responsibility of a company for its trade chains and production is encompassed in the definition of corporate social responsibility according to which a company is responsible for its supply chain and for the social, economical and ecological consequences of the activities of the company. A company is required to report about such consequences and must be effectively engaged with the stakeholders. In the context of human rights, the working environment and the employment conditions are always subjected to abuses with respect to production and trade chains on a regular basis. International standards for human rights, labor conditions and the environment of workplace (ILO) are difficult to be enforced in law. In regards to supply chain responsibility, it is important that supply chain is traceable ad transparent; the companies must voluntarily promote voluntary supply chain responsibility to make them more sustainable (NJ Group, 2018). Conclusion In the event, the companies are found to be inconsistent with the OECD guidelines; complaints against such company shall be made by civil society organizations. Recently, labor rights have emphasized on sweatshop labor, which is a workplace where people work for long hours at low wages (Rouge, 2016). The sweatshop workplace conditions have harmful impact upon the health of te labors, especially, on the children who are often forced to work under such circumstances. OECD considers children working in sweatshops to be illegal and banned ad subjected to legal proceedings. Any company found to be acting inconsistent with the OECDlaws regarding working of children in sweatshops, shall be subjected to legal proceedings. References Allen, W. T., Kraakman, R. (2016).Commentaries and cases on thelaw of business organization. Wolters Kluwerlaw business. Argenti, P. A. (2015).Corporate communication. McGraw-Hill Higher Education. Chau, N. H. (2016). On sweatshop jobs and decent work.Journal of Development Economics,121, 120-134. Cohen, E. (2017).CSR for HR: A necessary partnership for advancing responsible business practices. Routledge. Davidson, P. (2017). Are Free Trade Agreements Always Beneficial?. InWho's Afraid of John Maynard Keynes?(pp. 127-140). Palgrave Macmillan, Cham. Giachino, J., Cecil, M., Husselbee, B., Matthews, C. (2016). Alternative Project Delivery: Construction Management at Risk, Design-Build and Public-Private Partnerships.Proceedings of the Water Environment Federation,2016(1), 1214-1224. Pinto, J. K. (2015).Project management: achieving competitive advantage. Prentice Hall. Robertson, R., Di, H., Brown, D. K., Dehejia, R. H. (2016). Working conditions, work outcomes, and policy in Asian developing countries.College of Agriculture and Life Sciences, Department of Agricultural Economics, Students. Rouge, J. F. (2016). Sweet Sweatshops-A Reflexion about the Impact of Sweatshops on Countries Competitiveness.Economics,4(1), 7-36. Thomas, A., Antony, J., Haven-Tang, C., Francis, M., Fisher, R. (2017). Implementing Lean Six Sigma into curriculum design and deliverya case study in higher education.International Journal of Productivity and Performance Management,66(5), 577-597.