In business, the term market is used to imply a medium that allows interaction made to facilitate the exchange of goods and services between different sellers and buyers. According to this definition, a market may exist in both physical forms whereby where buyers and sellers meet for their exchange or, can be virtual form whereby the two parties don’t need to meet face to face but can have their exchange and transactions online. Other ways, market is broadly used when referring to the number of people desiring as well having the potential and abilities to purchase certain goods or services.
In this case, our concern is in the physical market. Which is further defines by (Cleaver 2009) as a franchise which gives its holder the right to hold a concourse of buyers and sellers for the sale of one or more types of a commodity? According to (Gikandi 2013) not all the existing markets are equal. There exist some bigger markets than others. Some are better than others and others seem more lucrative than others. There are some features that a marketer or someone in business should consider when choosing a market. One of the important factors is the legality or the legal constituents of a market. Due the existence and share of the same customers, in every business, there is always idea on completion. This, therefore, calls for legalities to exist in a market. (Korves 1990)The following are the features of a legal market
It’s very important that our council of management and members to town Centre market square be brought into the light on some of the legal provisions that any operator has met for an establishment of a market. This is very important since it will help us in decision making concerning the rivalry being established in our market. As members of the town city square, we followed these statues and legal provisions by the time we were establishing our market in the town city square. The legal provisions and conditions include;
In regards to the above legal requirements, as a manager, I can ascertain that we have met all the legal provisions for establishing a market. We sought a license and permit from the legal bodies. Our market was formed after an authorization by local authorities. We were given the rights to conduct our activities within the town city square under the local market activity. We were given the rights to charge tolls and power to provide the grants. We, therefore, have a legal power and obligation to take actions against any other person who may set up a rival market that exists at a distance of six and tow third from our local market.
Franchising is the authorization by the government or rather a company to a certain individual or group of individuals that enables them to conduct specific trade activities in place for the government or the company’s product. There are rights that are associated with this authorization.
The common law distance is used to when the above-mentioned rights are violated. This law recognizes a specified zone of protection that has a radius of six and two-thirds miles away from the franchise market. According to the law, another franchise market can only be established after consideration of that distance. It’s developed from the assumption that, a trader, seller and a buyer can only walk for an average distance of 20 miles per day. Therefore, it’s assumed they need a third a day to reach the desired market, another third to have their trading activities and another third to get back home. The 6 2/3 miles are used to represent the longest distance a trader can walk to the market. (Cleaver 2009)
Considering the rights as market owners, we are under a threat and risk of sharing our traders with the new operator. (Hsieh 2013) This is so since he has located his market six miles away from us. According to the common law, this distance can be a way of targeting our traders which will consequently lead to reduced returns. Due to foreseen intention to violate our market franchise rights, we have to take actions as soon as possible to counter-attack the operator from starting a market in that area which is also a private land. The best way to do that is to report the matter to local authorities. The local authorities in respect to market franchise rights, will prevent the operator from starting the market, limit him from sharing market days similar to ours and also stop his car boot business every Sunday. (Scottish business gateway 2006)
References:
GOV.UK/Business. “UNDERSTAND YOUR COMPETITORS.” INFO enterprenuers , 2015: 22.
Cleaver, Tom. “Modernising the law of markets and fairs .” markets franchise, 2009: 1-11.
Dawson, Anna. “The Franchisee’s Rights and Responsibilities.” Franchise direct, 2017: 2.
Gikandi, David Cameron. “A Good Market Has These 11 Characteristics.” Marketing , 2013: 41.
Hsieh, Kai-Yu. “The Structure of Competition:.” Organization science , 2013: 1-21.
Korves, Ross. “What Makes a Market?” Foundaation for Economic education, 1990: 4.
Riley, Geoff. “Market legal structures in the long run:Key Summary on Market Structures.” Economics, 2018: 9.
Scottish business gateway. “Street trading, markets and fairs, pedlars.” Regulated business. June 12, 2006. https://www.legaleze.co.uk/members/RB_Street_trading.aspx (accessed July 22, 2018).
We provide professional writing services to help you score straight A’s by submitting custom written assignments that mirror your guidelines.
Get result-oriented writing and never worry about grades anymore. We follow the highest quality standards to make sure that you get perfect assignments.
Our writers have experience in dealing with papers of every educational level. You can surely rely on the expertise of our qualified professionals.
Your deadline is our threshold for success and we take it very seriously. We make sure you receive your papers before your predefined time.
Someone from our customer support team is always here to respond to your questions. So, hit us up if you have got any ambiguity or concern.
Sit back and relax while we help you out with writing your papers. We have an ultimate policy for keeping your personal and order-related details a secret.
We assure you that your document will be thoroughly checked for plagiarism and grammatical errors as we use highly authentic and licit sources.
Still reluctant about placing an order? Our 100% Moneyback Guarantee backs you up on rare occasions where you aren’t satisfied with the writing.
You don’t have to wait for an update for hours; you can track the progress of your order any time you want. We share the status after each step.
Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.
Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.
From brainstorming your paper's outline to perfecting its grammar, we perform every step carefully to make your paper worthy of A grade.
Hire your preferred writer anytime. Simply specify if you want your preferred expert to write your paper and we’ll make that happen.
Get an elaborate and authentic grammar check report with your work to have the grammar goodness sealed in your document.
You can purchase this feature if you want our writers to sum up your paper in the form of a concise and well-articulated summary.
You don’t have to worry about plagiarism anymore. Get a plagiarism report to certify the uniqueness of your work.
Join us for the best experience while seeking writing assistance in your college life. A good grade is all you need to boost up your academic excellence and we are all about it.
We create perfect papers according to the guidelines.
We seamlessly edit out errors from your papers.
We thoroughly read your final draft to identify errors.
Work with ultimate peace of mind because we ensure that your academic work is our responsibility and your grades are a top concern for us!
Dedication. Quality. Commitment. Punctuality
Here is what we have achieved so far. These numbers are evidence that we go the extra mile to make your college journey successful.
We have the most intuitive and minimalistic process so that you can easily place an order. Just follow a few steps to unlock success.
We understand your guidelines first before delivering any writing service. You can discuss your writing needs and we will have them evaluated by our dedicated team.
We write your papers in a standardized way. We complete your work in such a way that it turns out to be a perfect description of your guidelines.
We promise you excellent grades and academic excellence that you always longed for. Our writers stay in touch with you via email.