Legal Advice Essay Example | Topics and Well Written Essays - 1000 words

Legal Advice - Essay Example Warren Buffet is the chairman and CEO of the company and is greatly responsible for a number of investment initiatives. From the start of his business at Berkshire Company, he paid more attention to long-term investments in openly quoted stocks. However, presently his focus has shifted to purchasing entire companies (Sharon, Steven & Corinne, 2002). Currently, the company holds a number of companies comprising of confectionary, marketing, railway, home fittings. It manufactures detergents and is involved in the sale of jewelry. In addition, Berkshire is involved in newspaper printing, production and supply of uniforms as well as numerous local electric and gas utilities. According to a report released by Forbes Global in the year 2000, Berkshire Hathaway was ranked 18th largest public corporation worldwide (Carroll, 2009). Berkshire Hathaway Company revealed their plans to invest a total of $5 billion in in the Bank of America on August 25th, 2011. The Bank of America was at the time experiencing hard economic times. They had been having disputes with regard to how foreclosure practices were managed. Ultimately, this implied that they were also having concerns with their mortgage investors. In total, they had approximately $ 8.8 billion loss and a huge amount of it accredited to the disbursement they made with the mortgage financiers. In addition, the bank of America was also planning to fire several workers. Following the announcement by Berkshire Hathaway to invest in this bank, the shares increased by over 25%. The bigger part of Berkshire India is owned by Berkshire Hathaway. According to a statement released by the Company, another plan with regard to this subsidiary corporation is to sell and supply common insurance merchandises in India via its operational distribution portal. Their preliminary emphasis will be on motorized insurance. However, the firm regularly updates its business model so as to meet the necessities of the fast developing Indian insura nce sector. In addition, the firm will advance into health, life as well as travel insurance if they the market turns out receptive as stated further by the statement (Braem, 2009). However, for successful implementation of their plans, there are business regulations that will be observed.Naturally, administrative laws are related to the government as well as the manner its organizational units work. In this perspective, administrative law consists of three precise elements. There are; replication of businesses as per the recommended style, coordination of dissimilar efforts into one bigger organization and continued daily operations of the firm in smooth process to help achieve their set objectives (Twomey& Jennings, 2010). For Berkshire Hathaway Company to operate successfully, they will require licenses and permits that are necessary for conducting their business online or e-commerce business, just like all other corporations. A state business permit is the major document needed for the purposes of taxation and carrying out other basic business operations (Miller and cross, 2013). The firm will also be required to pay sales tax for conducting business online as per the state regulations (Bentley, Galliher & Ferguson, 2007). Berkshire Hathaway Company is advised to comply with the available laws and regulations as operating without license could lead to fine of closure by the regulating authorities. This determines which elements of