Limited Liability Partnership Research Articles

Legal transplants and legal translation: a case study of the borrowing of the U.S. limited liability partnership into the Polish legal system

ABSTRACT The phenomenon of legal transplants, which refers to the diffusion of law across legal systems, is widely discussed by comparatists. The present paper seeks to explore its links with legal translation, so far mainly observed from the comparative law perspective, focusing on the impact of legal transplants on translation practice. To achieve this goal, one specific case is discussed, namely the borrowing of the U.S. limited liability partnership into the Polish legal system. This particular case raises the question of whether the term spółka partnerska, designating this relatively new Polish structure, and the term ‘limited liability partnership’ may be used as natural (functional) equivalents. Answering it becomes more complex when one realises that an entity called ‘limited liability partnership’ was subsequently also introduced in the United Kingdom – yet in a fundamentally different form. To identify the implications that these legal transplants have for legal translators, the nature of the U.S., U.K. and Polish business structures is discussed, and their essential features are compared. The findings demonstrate that the dynamics involved in legal transplants are likely to produce terminological traps, which, in turn, suggests that translators should be aware of this phenomenon and take particular care when faced with it.

The Efficacy of the Introduction of LLPs in Zambia: Lessons from Kenya and the United Kingdom

Design/methodology/approach –The study is a culmination of desk research in inter alia, statutes, case law, textbooks, journal articles, etc. Purpose-There are different forms of business associations that can be formed for the purpose of conducting business activities in Zambia and among them are partnerships which are regulated by the British Partnerships Act of 1890, an archaic and outdated law. The Partnerships Act of 1890 has several shortcomings which render it insufficient and ineffective in today’s business environment. The study discusses the current legal framework and shortcomings of partnerships in Zambia. Findings-For instance, individuals who would like to form a business association in which they can enjoy limitation of liability cannot establish a Limited Liability Partnership (LLP) in Zambia, instead, they would have to incorporate a company because Zambia lacks legislation for LLPs. Originality/value-This research paper highlights the benefits of LLPs, by drawing lessons from Kenya and the United Kingdom. In addition, the study recommends the creation of legislation and a regulatory framework to guide Limited Liability Partnerships in Zambia because none exists.

AGROTECHNOLOGY FOR FEED CULTIVATION AND CREATION OF HAYFIELDS AND PASTURES IN THE FOREST AND STEPPE ZONE OF NORTHERN KAZAKHSTAN

A high-quality feed base is a must to ensure the growing of numerous animals via selecting promising high-yielding crops that can provide livestock with feeds at the entire production stage. This study purposed to develop new technologies for reinstating a balanced use of pastures in Kazakhstan’s steppe and forest-steppe zones. Several investigations succeeded in 2019–2022 at the Service-ZHARS Limited Liability Partnership (LLP) production fields of District Kyzylzhar, North Kazakhstan. Five chosen pasture combinations created multifactor pasture lands, as follows: common alfalfa + Festulolium; awnless brome + yellow sweet clover; common alfalfa + pasture ryegrass + Festulolium; white sweet clover + awnless brome + Timothy grass, and sainfoin + Festulolium + pasture ryegrass + Timothy grass. For haymaking and pasture chain construction, the following grass combinations selected comprised two-pasture grasses (previous years' brome and Timothy grass + common alfalfa + sainfoin) and seven hay grasses (vetch + oats, Sudan grass, sorghum-Sudan grass hybrid + sorghum, corn for silage, sorghum, peas + oats + barley + wheat, and peas). The use of droughtresistant legumes, cereals, and arable crops and their mixtures positively impacted intensifying the feed base and reducing the pasture areas’ degradation. Thus, in the first experiment, the green mass collection was higher than 3.33 t ha-1 , while in the second one, it was below 4.75 t ha-1 , which fully bestowed the physiological needs of animals. The species diversity of pasture vegetation has improved because of beans’ inclusion, possibly enhancing the protein ratio in green feed and hay as the main component of the farm animals' diet.

Participants in Venture Investment Relations of Innovation Activities: European Experience and Ukrainian Legal Reality

Problem setting. In modern economic and legal studies one may observe the tendency of refusing the usage of traditional forms of getting speculative profit and starting to use the sphere of venture investment into innovation activities, which is caused by unstable economic situation and a high probability of unpredictable crisis phenomena. However, such instability is caused by the issue of determining the range of persons who can participate in the field of venture entrepreneurship and acquire the appropriate status. At the same time, we should analyze not only the legislation and legal doctrine in Ukraine, but also the law-enforcement practice of the EU countries and Great Britain, which is stipulated by the European integration aspirations of our country. Analysis of recent researches and publications. Nowadays, it is possible to note the imperfection of the current legislation and the inadequacy of the legal doctrine in the context of determining the parties to the studied legal relations. It is applied to both Ukraine and the EU countries and Great Britain. Although it should be noted that the countries of the European Commonwealth and especially Great Britain, compared to Ukraine, have more progressive positions in this aspect. Therefore, their experience should form the basis for the further progress of the venture sector on the territory of our country. Doctrinal results of domestic and foreign experts, such as Yu. Ye. Atamanova, O. R. Kibenko, O. E. Simson, O. P. Sushch, J. Levin, G. Sutton, A. Mancuso, although contain analysis and arguments in favor of classifying certain persons or certain organizational and legal forms as participants in venture investment relations of innovative activities, but do not give an unambiguous answer to it. Purpose of the research is to analyze of European practice and legal doctrine in regard to defining the composition of participants in venture investment relations of innovative activities and the possibility of their application in the legal reality of Ukraine. Article’s main body. The Ukrainian legislator’s approach regarding the definition of the range of subjects of innovation activities does not provide answer to the question on the criterion for classifying certain individuals or legal entities as subjects of venture investment into innovation activities. We believe that such a criterion can be the fact of a person’s participation in the process of creating a new product and bringing it to its implementation into production or other spheres of activities. Venture investment accomplished by venture funds / private equity funds is significantly different from investing into debt and share financial instruments conducted by co-investment funds or other professional asset managers. Venture funds are not the separate type of legal entity, and therefore different organizational and legal forms are used for their creation abroad – starting from a joint-stock company to a simple company. Such examples of organizational and legal forms used for the placement of venture investments are the Limited Liability Company (USA), the Limited Liability Partnership (Great Britain) and the Kommanditgesellshaft auf Aktien (Germany). These organizational and legal forms occupy an intermediate position between corporations (as legal entities) and partnerships (as contractual entities). This key characteristic feature that unites the specified forms of activity and is the main reason for the orientation of their use for the development of venture investment into innovation activities, which requires a flexible legal approach in regulatory principles. At the same time, the specified organizational and legal forms, despite the fact that they were created to be used in those areas of activity that are associated with increased risk, have general legal capacity and can be used in any area of activity not prohibited by law. Conclusions and prospects for the development. The foreign legislator still has not fully resolved all the needs of the field of venture investments: 1) there is still the issue of ensuring equal or the most favorable legal conditions for the participation of foreign investors at venture investment markets; 2) creation of tax conditions and benefits of venture activities; 3) special attention is focused on the legal status of legal entities and their organizational and legal forms (at the same time, there is almost no attention to individuals, with the exception of cases when such persons place investments into objects of venture entrepreneurship or when it is related to the sphere of intellectual property relations in regard to the distribution of property and personal non-property rights to the relevant objects). Taking into account the best global experience of using organizational and legal forms for venture investment into innovative activities of the USA, EU countries and Great Britain, we offer to enshrine the norms at the legislative level (while adopting the Law «On Venture Activity in the Innovation Sphere» or «On Venture Funds») that joint-stock companies and limited liability companies are organizational and legal forms of legal entities who can be used in the field of venture investment and innovative activities

Legal regulation of some types of companies in Great Britain

The article "Legal regulation of some types of companies in Great Britain" is devoted to a retrospective research of commercial law in England, as well as an analysis of some modern types of companies in the United Kingdom. The commercial law background in England has a very deep history. Thus, the author pays attention to the development of trade relations in the British Empire, starting with the peculiarities of the British East India Company, a company so powerful that it once dominated almost the entire Indian subcontinent. Particular emphasis is given to the South Sea Company, essentially one of the first and most successful joint-stock companies of its time with its own characteristics. Against the background of the gradual development of that company, there was a need to adopt the Bubbles Act, which for almost a whole century prohibited the creation of new companies, regulating the activities of joint stock companies.
 After analyzing the historical development of commercial law in England, the author analyzed the further development of such relations with the description of modern legislation of Great Britain. Author has payed attention that one of the biggest commercial law acts in the United Kingdom is the Companies Act, 2006, which concentrated the provisions of many previous acts of the XIX-XX centuries, incorporating two main features of company law - a simple registration procedure and limited liability.
 Today the main types of companies in Great Britain are governed by the Companies Act 2006, which primarily distinguishes between limited and unlimited companies. In addition, the law also names private and public companies, as well as other types of companies. A separate legislative act, dated 1890, regulates the concept and features of a partnership, a special form of which is the LLP - a limited liability partnership, which is also regulated by a separate regulatory document.
 England is the country with the sixth largest economy in the world, it is the first in Europe and the second country in the world after the USA - the largest provider of military aid to Ukraine, a rapidly developing country - and, therefore, its experience, retrospective analysis and research of modern legal institutions - are relevant, timely and useful for research and study.

Auditors’ legal liability and client firms’ comparability: evidence from China

PurposeThis paper aims to investigate the relation between audit firms’ switch to limited liability partnership (LLP) from limited liability company (LLC) and client firms’ earnings comparability. If LLP auditors, who have a higher liability exposure than LLC auditors, are more consistent in implementing generally accepted accounting principles and executing firm-wide audit methodologies, client firms’ earnings comparability will increase.Design/methodology/approachUsing data from China, the authors examine whether client firm-pairs of LLP auditors have higher earnings comparability than client firm-pairs of LLC auditors. The authors also perform cross-sectional tests to shed light on the mechanisms through which auditors’ litigation exposure affects client firms’ comparability.FindingsThe authors find that firm-pairs in which both firms are audited by LLP auditors exhibit higher earnings comparability than other firm-pairs. This result is stronger when client firms are audited by the same auditor, when client firms are audited by the top 10 auditors and when the auditors are less dependent on the client firms. The authors also document that firm-pairs in which both firms are audited by LLP auditors have lower average analyst earnings forecast error and forecast dispersion.Originality/valueTo the best of the author’s knowledge, this study is the first to examine the relation between auditor’s litigation exposure and client firms’ earnings comparability. It also extends the literature on audit firm organizational form and audit quality.

Between the Private Company and the LLP: Deciphering a Path for Small Businesses in Nigeria

This article questions whether the limited liability partnership form which was introduced in Nigeria in 2020 is set to displace the private company as the legal form of choice for small businesses and owner-managed entities. It compares the legal provisions relating to the private company and the limited liability partnership as provided for under the Companies and Allied Matters Act 2020, and highlights their relative strengths and weaknesses. It notes that while the attractions of the limited liability partnership are significant, recent reforms of the private company may have also positioned that form to be relevant and equally appealing to small businesses. It concludes that while the limited liability partnership will be highly appealing to professional partnerships in Nigeria, the private company would continue to remain relevant for some time to come particularly as it is now possible for sole proprietors to trade under that form as one-man companies.

Efficiency of probiotic culture consortium application for disinfection of dairy farm premises and prevention of mastitis in cows.

In this work, the effect of probiotics on the state of the microbial background of the livestock building, on the state of udder teats, and on the prevalence of latent mastitis was investigated. Long-term use of the consortium has bactericidal activity against all cultures studied, especially the causative agent of mastitis, Staphylococcus aureus, except Proteus mirabilis, Proteus vulgaris, and Escherichia coli. The washes from animal housings and milk samples were collected from the dairy farms "Astana-Onim" Joint Stock Company and "Rodina" Limited Liability Partnership (Kazakhstan). The cleaning solutions and probiotic agents were applied directly to the udder teats of cows before and after milking. Diagnosis of subclinical mastitis was performed using the Kenotest rapid mastitis test. Directly counting the number of somatic cells in the collected milk samples from each cow was performed on a somatic cell counter. Pathogenic microorganisms, including S. aureus bacteria (50% of samples) and bacteria of the E. coli group, Enterobacter aerogenes, and P. mirabilis (36% of samples), were detected on the udder skin and milk wipes. Using a consortium of probiotic microorganisms positively affects the mammary gland more quickly than using mastitis prevention agents alone. Probiotic use for a month resulted in a significant improvement in udder teat condition, with 60.7% of teats showing normal physiological reaction to milking, a decrease in complicated hyperkeratosis, and an increase in uncomplicated mastitis. The studies showed that in the experimental group, there was a 1.5-fold reduction in the number of cows with clinically pronounced mastitis. The experimental group showed no significant changes in the number of animals with high somatic cell levels before and after the study, while the control group without probiotics had a significant increase in diseased animals after 1 month. The use of a probiotic consortium has shown promising results in reducing the incidence of mastitis and improving milk quality in cows.

Auditor Legal Liability and Stock Price Crash Risk: Evidence from Organizational Transformation of Chinese Audit Firms

Synopsis The research problem This study examines whether and how the increase in auditors’ legal liability affects their clients’ stock price crash risk. Motivation Previous studies have shown that auditors have the incentive to reduce potential litigation risk by improving clients’ financial reporting quality, which in turn limits their clients’ ability to withhold bad news; however, the literature does not provide direct evidence on the relationship between auditor litigation risk and client crash risk. Besides, most studies have focused on auditors’ impact on clients’ financial statements but seldom have investigated auditors’ impact on clients’ other information-disclosure channels. This study attempts to provide evidence showing that auditor legal liability could indirectly affect clients’ crash risk by influencing clients’ conservatism in accounting practices and optimism in information disclosure. The test hypotheses H1: Clients experience declines in future stock price crash risk after their auditors change from the limited liability company (LLC) form to the limited liability partnership (LLP) form. H2: After changing to the LLP form, auditors enhance clients’ accounting conservatism and decrease clients’ optimism in management earnings forecasts and MD&A disclosures, thereby lowering clients’ future stock price crash risk. Target population This study should be of interest to auditors, firm managers, investors, and policy makers. Adopted methodology We adopted Ordinary Least Squares (OLS) regressions and path analysis. Analyses We utilized the staggered organizational transformation of Chinese audit firms — i.e., from LLCs to LLPs — to identify the increase in auditors’ legal liability. Using a sample of Chinese public-listed firms, we performed cross-sectional regressions to examine how clients’ crash risk changes after their auditors transform to LLPs. Next, we conducted a path analysis to show how auditor litigation risk affected client crash risk. Findings We found that after auditors transform into LLPs, their clients demonstrate lower crash risk. We further found that accounting conservatism, optimism in management earnings forecasts, and optimism in management discussion and analysis (MD&A) disclosures explained the negative relationship between auditor legal liability and client crash risk.

Limited Liability Partnership under Companies and Allied Matters Act, 2020

Limited liability partnership (LLP) like limited partnership has been in existence in most countries for some time now. It was only introduced in Nigeria as one of the business entities by Companies and Allied Matters Act 2020 (the Act). It combines characteristics of partnership and company, particularly in the area of limited liability as all the partners have limited liability. The business community in Nigeria for years desired for a hybrid of partnership and company to carry on business and with the introduction of LLP, it is believed that their desire has been met. The Act made provisions for registration of limited liability partnership before commencement of business as well as provisions on management and winding up of the limited liability partnership. The Act also provides for appointment of designated partners and person(s) with significant control that are distinguishing attributes of LLP from other types of partnership. This paper examined the entire provisions of the Act on limited liability partnership like foreign limited liability partnership, investigation of LLP, returns limited liability partnership makes to Corporate Affairs Commission (the Commission), books the Commission and the limited liability partnership keep among others and came to the conclusion that the drafters did a good job though it can be improved upon. This paper is aimed at determining the adequacy of the provisions of the Act in respect of LLP and made some recommendations; like the amendment of the Act to adequately provide for voluntary winding up and distribution of assets upon dissolution of limited liability partnership by the partners. Keywords: Limited Liability Partnership, Nigeria, Companies and Allied Matters Act, Corporate Affairs Commission, Designated Partner, Person with Significant Control, Foreign Limited Liability Partnership, Investigations DOI: 10.7176/JLPG/121-02 Publication date: June 30 th 2022

Benefits and Burdens of Subchapter S in a Check-the-Box World

The Treasury's issuance of the check-the-box regulations (CTB) in late 1996 has intensified debate about whether there should be a single federal income tax regime for all private business firms (PBFs), including passthrough entities, whose equity interests are not publicly traded. This revived concern for parity in tax treatment among the various forms of passthrough entities arose because the CTB regulations generally allow a business entity with two or more owners to be taxed as a partnership for federal income tax purposes, regardless of its organizational structure and corporate-like characteristics under state law. Before the CTB regulations, unincorporated entities were required to maintain at least two noncorporate characteristics in order to avoid the double tax regime of Subchapter C. Revenue Ruling 88-76, which permitted limited liability companies (LLCs) to achieve partnership tax status under the former regulations, inspired state legislatures to jump on the LLC bandwagon by adopting LLC statutes and amending existing LLC statutes to conform to liberalized federal income and transfer tax interpretations. All states now have limited liability company laws, and many have added the limited liability partnership (LLP), which is a hybrid form of organizational structure, between the LLC and the limited partnership (LP), intended primarily for professional service organizations. The primary benefit of the LLP is that it insulates partner-members in professional service organizations from vicarious liability for malpractice errors and omissions.

Раскрытие информации венчурными фондами, созданными по договору инвестиционного товарищества

Russia’s private equity and venture capital industry is in the early stages of development. In 2011 the Federal Law on Investment Partnership (335-FZ) was enacted. It brought the best international practices of collective investments into the Russian legal system by making it possible to create venture capital funds through investment partnership. This particular type of funds is the closest in substance to the most popular legal form of globally known venture capital funds which is a limited liability partnership. Significant progress has been made so far in reforming the Russian system of accounting and financial reporting under the IFRS. However, the existing regulations have not been amended to (capture) incorporate accounting and reporting of financial investments, and proper templates for disclosure and reporting by investment partnership funds have not been worked out. The aim of the article is to develop suggestions and recommendations to enhance domestic model of information disclosure by venture capital funds formed under investment partnership agreements. Researching the international practices of disclosure by venture capital funds created as limited liability partnerships allowed to devise financial reporting templates that can be used by domestic venture capital funds formed under investment partnership agreements. These templates proposed in this piece of research can serve as the basis for future industry standards of financial accounting in Russia.

On the Path of Decriminalising the Misdemeanours: Strides Towards Ease of Doing Business – The Underlying Principles and Arguments

To foster the entrepreneurial spirit, removing the fear of criminal prosecutions for minor omissions and commissions in the normal course of business is of paramount importance and hence the Ministry of Corporate Affairs (MCA) being the corporate regulator is currently on decriminalisation drive. The MCA facilitates the ease of doing business through decriminalisation of compoundable offences under the Companies Act, 2013 and the Limited Liability Partnership Act, 2008 to start with. This article is an attempt to focus on the need for decriminalising and outline the principles adopted for such a process along with arguments for and against it.

Country Note: Abolition Of Ddt In India: A Treat For Foreign Investors?

The Indian government eliminated the much maligned dividend distribution tax (DDT) through Finance Act 2020. The abolishing of the DDT marks a return to the shareholder regime of dividend taxation (hereinafter ‘shareholder regime’). Foreign enterprises (generally multinational corporations) aiming to do business in India through subsidiaries or enterprises that already have subsidiaries in India can benefit from this change. This article analyses the tax impact of this change when an Indian subsidiary distributes its profits to its parent or holding company. Thus, the paper presents a tabular representation of taxation in the DDT regime and the shareholder regime and compares them. To present the complete scenario, the paper also analyses different profit distributing mechanisms other than dividends that are used by companies – specifically, the buyback of shares and share capital reduction. Finally, limited liability partnership (LLP) firms offer another vehicle for companies to conduct business in India. Thus, the paper also analyses the taxation aspects of an LLP distributing profits to its partner company. The return to the shareholder regime will allow non-residents to avail beneficial tax rates provided for dividend taxation in double taxation avoidance agreements (DTAAs) signed by India with other countries. Thus, the final section of this article discusses the mechanisms that are in force to prevent treaty shopping. The principal purpose test (PPT) brought in by the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) (Multilateral Instrument or MLI), the threshold of beneficial owners found in most DTAAs, and India’s domestic general anti-avoidance rule (GAAR) are analysed to determine the essential requirements of these mechanisms. CFC, Individuals, BEPS, Action 3, Brazil.

Preface

International AgroScience Conference (AgroScience-2021) was held on 16 April 2021 in Cheboksary, Russian Federation. The Conference was jointly organized by Chuvash State Agrarian University (Russia), Life Science University of Bradford (Great Britan), Grodno State Agrarian University (Republic of Belarus), and Research Institute of Livestock and Feed Production (Republic of Kazakhstan).The Conference brought together 129 scientists, academicians, practitioners, and professionals from manufacturing sector in planting, veterinary, farming, agro-engineering, and agro-management sectors from Russia, Belarus, Great Brittan and Kazakhstan. The conference program was structured to encourage mutual inspiration and fruitful debate among researcher. Participants were offered the chance to contribute to the conference in various roles, to demonstrate novel results, and to exchange new ideas and application experiences with each other.AgroScience-2021 was carried out face-to-face in Chuvash State Agrarian University and remotely via Zoom due to COVID pandemic situation. Any person wishing to participate in the event could contact Zoom meetings. Conference topics The AgroScience-2021 was mainly focused on (1) Actual issues of production and processing of agricultural products: Modern technologies for the production and processing of agricultural products; Technologies for the production of environmentally friendly products; Automation of agricultural production processes; Technologies for improving the efficiency of agricultural production; (2) Actual problems of livestock and veterinary medicine: Current issues of veterinary medicine; Private and general animal husbandry; (3) Agro-engineering: Agricultural implements and machinery, Precision farming systems in agriculture, Electrification and automation of agriculture; and (4) Economics and management: challenges and directions of development: Transition to an innovative economy; The digital economy of agriculture in the context of globalization; Management in agricultural enterprises. Keynote speakers Prof. Asylbek Baimukanov, Limited Liability Partnership “South-West Research Institute of Livestock and Crop Production”, professor of the department “Technology of production of livestock products”, Kazakh National Agrarian University, chief researcher of the Kazakh Research Institute of Livestock and Feed Production, Almaty, Republic of Kazakhstan with lecture: “Influence of the new feeding technology of milking dromedary camels on their milk productivity”.List of Conference Proceedings, Program Committee, Organizing Committee, Web-page, Editors of AgroScience-2021 Proceedings are available in this pdf.

Social Enterprise in Small Hydropower (SHP) Owned by a Limited Liability Partnership (LLP) between a Food Cooperative and a Social Venture Company; a Case Study of the 20 kW Shiraito (Step3) SHP in Itoshima City, Fukuoka (Japan)

There was an unprecedented growth of SHP (small hydropower) in Japan during recent years because the government has provided a high FIT (USD 0.32/kWh) for SHP development projects of less than 200 kW. The public and private sectors are committed to harnessing this natural energy to achieve the renewable energy goal as well as to improve local communities social and economic conditions. This paper will discuss about renewable energy initiatives by a food corporation enterprise (FCOOP) based in Fukuoka prefecture of Japan to reduce their net carbon emissions. A detailed approach for social enterprises-based SHP development has been discussed which will be a role model concept for other social enterprises in Japan and in the world that are willing to reduce CO2 emissions. Also, this kind of project connects urban stake holders with local community where resources are available and it leads to development of the local community living standards. As a demonstrated example, a case study of a 20 kW SHP installed in Japan by a FCOOP has been discussed.

CALCULATION OF SNOW HEIGHT (HS) AND SNOW WATER EQUIVALENT (SWE) AT KEY POINTS OF THE NORTHERN KAZAKHSTAN REGION FROM SENTINEL-2 SATELLITE IMAGES

The article presents a comparative assessment of the snow height (HS) in the Limited Liability Partnership "North Kazakhstan Agricultural Experimental Station" using three different approaches of calculation of Snow Cover Fraction (SCF) with further determination of Snow Water Equivalent (SWE) from the one hand and in-situ prospective from the other. It was clear that the quadratic formula of SCF calculation provide better and reliable outcomes with an RMSE 1.36 cm which is followed by linear (12.06 cm) and exponential approaches (12.86). The lowest water level was 9 mm, the average level was about 50 mm, and the highest level was up to 62 mm, according to the SWE map produced by the quadratic equation while the highest, average and the lowest snow height (HS) have reached up to 28 cm, 13 cm and 5 cm respectively. Based on the results and the accuracy obtained, we strongly recommend to use the given methodology in the whole northern and central regions of Kazakhstan to estimate the amount of snow for the further hydrological plans and decisions.

Modernization imposed: SOM’s practice in China – A case study of Wuhan

AbstractSkidmore, Owings & Merrill Limited Liability Partnership as one of the best ‘localized’ overseas design companies in China, has participated in more than ten large-scale urban design projects in Wuhan, which has greatly changed the urban image and architectural style of Wuhan. Its space model of ‘grid road system + high-rise building’ replaces the traditional urban pattern of ‘street + residence’, causing huge cultural conflicts and historical rupture. Based on the planning of Wuhan Hanzheng street as an example, this paper attempts to uncover the cause of formation, the motivation mechanism of ‘grid road system + high-rise buildings’ space model, and to explore how Chinese cities realize the urban modernization with Chinese characteristics.

Etching a place in the design industry – case of DesignTheme Innoventics

Study level/applicability This case can be used in the core course on entrepreneurship for Bachelor of Business Administration (BBA) and Master of Business Administration/Post Graduate Diploma in Management (MBA/PGDM) students. It will help them to understand the motivations and challenges of women entrepreneurs, strategies to manage challenges, interactive style of leadership and their contribution to the economic growth of the country. Subject area Entrepreneurship. Case overview Roopa Rani, co-founded a digital design company, DesignTheme Innoventics (DTI), with her husband Yoganand, in November 2007, on the first floor of their residence. Yoganand’s creativity and Roopa’s determination made them bootstrap, scale slow and steady. As a novice to the industry, the initial days posed many challenges. Roopa hired artists to be appointed as designers, which gave them a unique selling preposition. They progressed slowly from a team of 2 to 20, with a revenue of INR 0.3M per annum to INR 12M per annum. As the company grew, Roopa wanted Yoganand’s support in handling the responsibilities, and hence, converted DTI into a limited liability partnership in 2013 and the couple were directors. As the client base improved, the need for shifting to a bigger space became more evident. A calculative risk-taker, Roopa, was forced to move DTI to a bigger office space end 2017, with a rent of INR60,000 per month. Meanwhile, they became a team of 20, with revenue of INR12m. The shift from no rent to a rented space made DTI slip to break-even. However, after two years, they moved into a smaller space and it coincided with the COVID-19 outbreak. Although the backlog orders were processed during the first quarter of 2020–2021, the business for the next quarter was affected. Social distancing norms created a shift in the way of doing business, which was a boon for a designing company like DTI. Now, the task before this self-made woman entrepreneur was to formulate strategies to scale up the business. Expected learning outcomes After analysing the case, the students will be able to: i. Value the contribution of women entrepreneurs towards the economy. ii. Examine the motivational factors and challenges of women entrepreneurs. iii. Understand the importance of networking. iv. Appraise the socio-cultural factors in a patriarchal society and their impact on the work-life balance of a woman entrepreneur. v. Appreciate the interactive leadership style of women entrepreneurs. vi. Formulate strategies to scale up the business. Supplementary materials • Agarwal, S., & Lenka, U. (2015). Study on work-life balance of women entrepreneurs – review and research agenda. Industrial and Commercial Training, 47(7), 356–362. doi:10.1108/ict-01–2015-0006 • Amit, R., & Muller, E. (1995). “Push” And “Pull” Entrepreneurship. Journal of Small Business & Entrepreneurship, 12(4), 64–80. doi:10.1080/08276331.1995.10600505 • Buttner, E. H. (2001). Examining Female Entrepreneurs' Management Style: An Application of a Relational Frame. Journal of Business Ethics, 29(3), 253–269. doi:10.1023/a:1026460615436 • Carter, S.C. (1997). E. Holly Buttner and Dorothy P. Moore (1997), ‘Women’s Organisational Exodus to Entrepreneurship: Self-reported Motivations and Correlates with Success', Journal of Small Business Management, January, pp34-47. • Cohoon, J. McGrath and Wadhwa, Vivek and Mitchell, Lesa, Are Successful Women Entrepreneurs Different from Men? (May 11, 2010). Available at SSRN: https://ssrn.com/abstract = 1604653 or http://dx.doi.org/10.2139/ssrn.1604653 •Fletcher, J. (1998), Relational Practice: A Feminist Reconstruction of Work, Journal of Management Inquiry, 7(2), 163-186. • Kirkwood, J. (2009). Motivational factors in a push‐pull theory of entrepreneurship. Gender in Management: An International Journal, 24(5), 346–364. doi:10.1108/17542410910968805. • Malyadri, G., Dr. (2012). Role of women Entrepreneurs in the Economic Development of India. Paripex – Indian Journal of Research, 3(3), 104–105. doi: 10.15373/22501991/mar2014/36. Pal, N. (2016). Women Entrepreneurship in India: Important for Economic Growth. International Journal of Pure and Applied Researches, 4(1), 55–64. Pugazhendhi, D. P. (2019). Problems, Challenges and Development of Women Entrepreneurs. Emperor Journal of Economics and Social Science Research, 1(4), 48–53. doi:10.35338/ejessr.2019.1407. Shastri, S., Shastri, S., & Pareek, A. (2019). Motivations and challenges of women entrepreneurs. International Journal of Sociology and Social Policy, 39(5/6), 338–355. doi:10.1108/ijssp-09–2018-0146. Tende, S.B. (2016). The Impact of Women Entrepreneurs towards National Development: Selected Study on Taraba State. Information and Knowledge Management, 6, 30–43. Xheneti, M., Karki, S. T., & Madden, A. (2018). Negotiating business and family demands within a patriarchal society – the case of women entrepreneurs in the Nepalese context. Entrepreneurship & Regional Development, 31(3–4), 259–278. doi:10.1080/08985626.2018.1551792 Subject code CSS 3: Entrepreneurship.

DEVELOPMENT AND FORMATION OF THE LEGISLATION OF FOREIGN COUNTRIES REGULATING BUSINESS PARTNERSHIPS

The article has chosen the topic’s relevance because the «origin» of this organizational and legal form was in ancient times, even in Ancient Rome and Greece. In different traditional systems, such a corporate and legal structure as a Limited liability Partnership is called differently, so in England-a Limited Liability Partnership, in the United States of America – a Limited Liability Company, in Germany-a limited liability company. In this article, only some limited liability partnership elements will be analyzed using the comparative-legal method. In particular, we will talk about the number of participants, authorized capital, registration, liability, etc., in comparison with the Republic of Kazakhstan, England, the United States, and Germany. A business partnership is different from a simple partnership, which, according to article 228, has no authorized capital and is not a legal entity. In contrast to business partnerships, a simple partnership is formed based on a contract on joint activities of its participants, and the material basis of its activities is the property of the participants of a simple partnership, which is the common shared property of these participants, but not of the partnership. Keywords: civil Code, the Law on business partnerships, commercial organization, participants of business partnerships, comparative analysis of business partnerships.