Monday 28 January 2013

T1W4 HOMEWORK


Write an introduction of your business in report format consisting of:
ìBusiness Description
ìBusiness Legal structure (ownership and funding)
ìJustify why your business is selected in this structure
ìBusiness Type
ìLocation
ìMarket (local/ national/ global)

DEADLINE: BEFORE YOUR NEXT IE LESSON

25 comments:

  1. Business description:
    Redstone Technologies is a limited partnership (LP) firm that researches into the human body and its possible genetic modification potentials.

    Business legal structure:
    Redstone Technologies will be a limited company.

    Business type:
    Limited Partnership

    Location:
    In an area not needing to have too much crowd.

    Market:
    Global

    ReplyDelete
  2. Business description:
    The Swaggeration is a company that sell stationeries but they will be unique as the company would modify them.

    Business legal structure:
    The Swaggeration will be a private limited company

    Business type:
    Limited liability partnership

    Location:
    In a few popular shopping malls

    Market:
    National

    ReplyDelete
  3. Business Description:
    GoGamer is a company that will sell games compatible to all gaming platforms including PC, PS3, X-Box and Wii. They will be games ranging from high amount of action to sports and role-playing.

    Business Legal Structure:
    GoGamer will be a private limited company.

    Business Type:
    Limited Liability Partnership

    Location:
    Worldwide with many branches.

    ReplyDelete
  4. Business description:
    The Swaggeration is a company that sell stationeries but they will be unique as the company would modify them.

    Business legal structure:
    Private Limited Company

    Business type:
    Limited liability partnership

    Location:
    In areas where there is high demand for stationery, e.g. schools, with no other major competitors around.

    Market:
    Global

    ReplyDelete
  5. Business Description:
    The Big Bang is a company that sells science kits and brings science to schools by hosting events or workshops in schools. The Big Bang's philosophy is to make experiments big and fun for kids.

    Business Legal Structure:
    Limited liability partnership

    Reason: It is quick an easy to set up and has fewer formalities and procedures to comply compared to a company. An LLP gives owners the flexibility of operating as a partnership while having a separate legal identity like a private limited company. This means that the LLP is seen as a body corporate and has a legal personality separate from its partners. The LLP has perpetual succession, which means any change in the partners of an LLP will not affect its existence, rights or liabilities. I feel that working in this manner is the most appropriate for me.

    Business Type:
    Online Business and Franchise

    Location:
    Areas near schools and tuition/enrichment centres.

    Market:
    Global

    ReplyDelete
  6. Business Description:
    Superwave is a company that sells a variety of shoes such as sport shoes, normal wear, etc. These shoes will be trendy yet cheap whcih would appeal to many of the customers!

    Business Legal Structure:
    A private limited company.

    Business Type:
    Limited Liability Partnership

    Location:
    The company will be branched out across the world/ global

    ReplyDelete
  7. Business Description:
    GoGamer is a company that sells games compatible to all platforms such as Xbox 360, PC, Macintosh, PS3. The types of game will vary.

    Business Legal Structure:
    Private Limited Company

    Business Type:
    Limited Liability Partnership

    Location:
    It will start out as a local company and after that evolve into a worldwide company.

    ReplyDelete
  8. Business Description:
    GameSiciouS is a special company which will create its own console which has the unique name 'GSS-E'. GameSiciouS will create a whole new way of gaming and that is everywhere. A CD/Software will be given with the console which allows the gamer to access a simple simulation of the game in their Laptop, Desktop and other devices after installing the software. This software will work as long as there is internet available.

    Business Legal Structure:
    GameSiciouS will be a private limited company.

    Business Type:
    Limited Liability Partnership

    Location:
    Main Branch will be in US as there are more gamers and it is where most games were born. Mainly, products(e.g.Games) will be sent to distributers like challenger to be sold.

    Market:
    Global

    ReplyDelete
  9. This comment has been removed by the author.

    ReplyDelete
  10. Business Description:
    GoGamer is a company that will sell games compatible to all gaming platforms including PC, PS3, X-Box and Wii. They will be games ranging from high amount of action to sports and role-playing.

    Business Legal Structure:
    The business legal structure is partnership. It is quick and easy to set up and manage. There are also less regulatory requirements to comply with and there is a separate legal entity.

    Business Type:
    Limited Liability Partnership

    Location:
    We will start off in the local market and open more branches in Asia or the US as our company grows.

    ReplyDelete
  11. Business Description:
    ToughBone is a dedicated hiking and mountaineering gear manufacturer, that will sell gear to aid the protection and experience of hikers or mountaineers. We sell the gear at a affordable rates, so that almost anybody can enjoy the benefits and fun of hiking and mountaineering.

    Example of Products

    Excision® Gloves
    - Designed with nano-fibres which are interweaved together to make it structurally hard. This prevent stab wounds occurring from sharp rocks and prevents cuts. The glove is abrasion-resistant.
    - Waterproof, while breathable.
    - Use of nano-fibres also makes the gloves flexible and light.

    Shoe-wear
    - Gaiter
    a) Made of nylon fabric, interweaved tightly together to make it abrasion resistant.
    b) Made to be waterproof, very breathable and light.
    - Armoured Shoe
    Made of heavy duty Gore-tex and nylon, with carbon-fibre inserts

    WindShield® Hat series
    - Dome Hats
    - Dome
    - Micro Dome
    - Beanies
    - Balaclava
    - Half Balaclava
    Full Balaclava

    Tents
    - High-Altitude Type
    - Superlight Trekking Type
    - Camp

    Ghost® Wear
    - Down Windbreaker Jackets
    - Thermal Shirts
    - Insulated (Armoured) Pants

    (Pardon Randomly Invented Product Names)

    Business Legal Structure:
    Limited Liability Partnership

    Reason:
    Combines limited liability features of a company, while providing operational flexibility of a partnership, and has fewer formalities and procedures than a company. It is also a separate legal entity, and the LLP is seen as more of a corporate body separate from partners. It is also easier to raise capital with an LLP, as it is seen as a company which banks prefer to loan money to. As a corporate-like entity, it has a more credible and commands a better image than a sole proprietorship or a partnership firm, and investors will be more willing to become part of the company as it demonstrates a vision to grow and expand. The business will be taken more seriously by your potential clients, suppliers, bankers, and other professionals you will be dealing with. The benefits of an LLP is why I would prefer to set up my company as a LLP.

    Business Type: Manufacturing for Consumers

    Location: Main Branch in Singapore. Online Shop for worldwide delivery.

    Market: We focus our target audience on the local market in Singapore, while also setting up an online shop in later stages. When it is successful enough, we will evolve to suit the needs of a global market.

    ReplyDelete
  12. Business Description: Manufactures durable and reliable hiking, trekking, mountaineering etc. gear and necessities, while at the same time, making prices affordable to virtually anyone.

    Business Legal Structure: Limited Liability Partnership

    Reason: I want to be able to operate the business but would need an investor to start up the brand

    Business Type: Consumer Brand

    Location: All Major Shopping Malls

    Market: Global

    ReplyDelete
  13. Business Description: Bonus Level will make and sell unique games from a variety of genre which cater to different types of people.

    Business Legal Structure: Limited Liability Partnership (LLP). LLP allows the partners to have limited liability and to manage the business directly. It is easier and cheaper than setting up a company and has fewer formalities than a company. It is also a separate legal entity from the partners, so it can be sued in the name of the LLP.

    Business Type: Business to consumer

    Location: Main branch will be located in Singapore. Outlets will be located in shopping malls.

    Market: It will start with the local market in Singapore. When it becomes successful, an online store and more branches will be opened globally.

    ReplyDelete
  14. Business Description: Dat Cookie is a company in the food industry, specializing in all types of cookies from chocolate chip cookies to peanut butter cookies.

    Business Legal structure: Limited Liability Partnership

    Justify why your business is selected in this structure:
    - Quick and easy to set up
    - Fewer formalities and procedures than a company
    - Registration cost relatively minimal, fewer regulatory duties to adhere to than a
    company
    - A separate legal entity from its partners
    - Partners are personally liable for debts and losses resulting from their own
    wrongful acts

    Business Type: Franchise

    Location: Shopping malls and below HDB/DBSS/Condominium blocks

    Market: Local to national to international to global

    ReplyDelete
  15. Business Description: Phantasmic is a company that specialize in making and selling game products and games. The sold games will range from different genres like RPG or MMORPG.

    Business Legal Structure: Limited Liability Partnership

    Reason: Limited Liability Partnership allows the company to be easily setup, lesser rules/procedures to follow and registration is cheap.

    Business Type: Online business or online store

    Location: Internet

    Market: Gloal

    ReplyDelete
  16. Business Description: Bonus level

    Business Legal Structure: Limited Liability Partnership.

    Reason: It is quick and easy to set up with fewer formalities and procedures than a company. Partners are personally liable for debts and losses resulting from their own wrongful acts.

    Business type: Online store and business to consumer

    Location: Singapore

    Market: Global

    ReplyDelete
  17. Business description:
    The Swaggeration is a company that sell stationeries that have been modified based on latest trends and focused on creating trends of its own. It's products are children and teenage attractive.

    Business legal structure:
    Private Limited Company

    Business type:
    Limited liability partnership

    Location:
    In areas where there is high demand for stationery, e.g. schools, with no other major competitors around. Youngster-frequency places like shopping malls, store besides Macdonalds.

    Market:
    Global

    ReplyDelete
  18. Description: Phantasmic is a company that sets up stores selling game-related products.

    Legal Structure: Pte Ltd

    Business Type:
    Company

    Location: In Malls where gamers, our target audience, are.

    Market: Global.

    ReplyDelete
  19. Business Description: Bonus level is a company which creates and sells games targeted at all kinds of gamers, experienced, new, young and old.

    Business legal structure: Limited Liability Partnership, it's easy to set up and partners are personally responsible for mistakes.

    Business type: Online store

    Market: Global

    ReplyDelete
  20. Business Description:
    The Big Bang is a company that sells science kits and brings science to schools by hosting events or workshops in schools. The Big Bang's philosophy is to make experiments big and fun for kids.

    Business Legal Structure:
    Limited liability partnership

    Reason:
    -Quick and easy to set up.
    - Fewer formalities and procedures to comply with compared to a company.
    - An LLP gives owners the flexibility of operating as a partnership while having a separate legal identity.
    -Has a legal personality separate from its partners.
    -Perpetual succession, which means any change in the partners of an LLP will not affect its existence, rights or liabilities.


    Business Type:
    Supplier. Online business. Franchise stores.

    Location:
    Supplying to schools/enrichment centres. Franchise stores.

    Market:
    Global

    ReplyDelete
  21. Business description:
    Tritium Studios will be a limited partnership company that specializes in software design, such as games and productivity applications.

    Business legal structure:
    Tritium Studios will be a limited company.

    Business type:
    Limited Partnership

    Location:
    Sells products online as well as in computer software stores(not owned by Tritium Studios, basically a reseller).

    Market:
    Global

    ReplyDelete
  22. Business Description: Dat Cookie is a company in the food industry, which specialises in all types of cookies from chocolate chip cookies to white chocolate chip cookies also there will be coffee and some drinks to drink with the cookies

    Business Legal structure: Limited Liability Partnership, easy to set up, registration is very less and partners are personally responsible for whatever happens

    Business Type: Cafe

    Location: shopping malls and near foodcourt

    Market: Local

    ReplyDelete
  23. Business Description: Phantasmic. Specialises in selling game products like models and shirts, while selling games themselves too.

    Business Legal Structure: Private Limited

    Business type: Retail shop

    Market: Global.

    ReplyDelete
  24. Description: Toughbone is a company which intends to sell Quality adventuring necessities, such as tools needed for hiking, mountaineering and trekking, etc.

    Business legal structure: Limited liability partnership. just requires a investor in order to start up the business, but still allows me to be in charge of company operations

    Business type: consumer brand, which has a few franchises, which assures the quality of the product.

    Market: Global

    ReplyDelete