Business associations have three distinct characteristics: (1) they have more than one member (at least when they are formed); (2) they have assets that are legally distinct from the private assets of the members; and (3) they have a formal system of management, which may or may not include members of the association.
The first feature, plurality of membership, distinguishes the business association from the business owned by one individual; the latter does not need to be regulated internally by law, because the single owner totally controls the assets. Because the single owner is personally liable for debts and obligations incurred in connection with the business, no special rules are needed to protect its creditors beyond the ordinary provisions of bankruptcy law.
In this clip from www.artistshousemusic.com – Island Records founder Chris Blackwell gives his thoughts on why artists and other music industry players must make an
In this clip from www.artistshousemusic.com – Jay Cooper, a music lawyer based in Los Angeles, reviews the history of previous shifts in how recorded music