The below list documents a general outline for each section of the Federal Arbitration Act: 

 

 

• Section 1: Federal Arbitration Act Text regarding Maritime Transactions and Commerce:

 

o The first section of the Federal Arbitration Act defines Maritime Transactions and Commerce and the regulations that go into arbitration for such business relations. The Federal Arbitration Act Text regards maritime transaction that may yield arbitration as any means of charter parties, agreements relating to wharfage, supplies furnished to repair vessels, collisions or bills of lading water

 

 

• Section 2: Federal Arbitration Act Text regarding the validity and enforcement of agreements to arbitrate:

 

o This portion of the Federal Arbitration Act provides a written provision for any maritime transaction or contract involving commerce to settle through arbitration or any conflict that results thereafter. Arbitration is permitted for any breach of contract, including the refusal to perform all or any part of the agreement

 

 

• Section 3: Federal Arbitration Act Text regarding Stay of Proceedings:

 

o States that any suit or proceeding must be brought in a United States court upon any issue referable to a panel or arbitrator under an agreement in writing for such arbitration efforts. 

 

 

• Section 4: Federal Arbitration Act Text states that failure to arbitrate under agreement requires the filing of petition to the specific court the holds jurisdiction for order to compel the arbitration. 

 

 

• Section 5: Federal Arbitration Act Text regarding the appointment of arbitrators:

 

o States that if the agreement names or appoints an arbitrator the course of action to choose the individual must be followed. If no method is provided in the agreement, the court will designate and subsequently appoint an arbitrator to hear the case. 

 

 

• Section 6: Federal Arbitration Act Text Regarding Application heard as a motion

 

o Any application to the court is made and heard in the manner provided by law for hearing motions

 

 

• Section 7: Federal Arbitration Act Text Regarding rules for witnesses, fees and compelling attendance:

 

o The arbitrator may summon (in writing) any individual to attend as a witness if the individual can provide a testimony, book, document or record that is regarded as material evidence in the case. The fees associated for attendance are the same as all United States courts. 

 

 

• Section 8: Federal Arbitration Act Text regarding libel and seizure:

 

o The aggrieved party may begin their proceeding by libel and seizure of a vessel or property of the other party according to the course of admiralty proceedings. The court then has jurisdiction to direct the parties to proceed in arbitration and shall retain jurisdiction to enter its decree.

 

 

• Section 9: Federal Arbitration Act Text regarding awards, confirmation and jurisdiction:

 

o If both parties both agree that a judgment shall be entered upon the award then at any time within one year after the award either party may apply to the court for an order confirming the award. If a court is not specified in the agreement, then the request will be filed with the United States court located in the district where the award was granted.

 

 

• Section 10: Federal Arbitration Text regarding Vacation, rehearing

 

 

• Section 11: Federal Arbitration Text regarding modification for grounds and order

 

 

• Section 12: Federal Arbitration Text regarding the notice of motions to modify or vacate:

 

o The notice of a motion to modify, correct or vacate an award must be served to the losing party (or his attorney) within three months from the judgment or delivery of the award. 

 

 

The last section of the Federal Arbitration Act describes the appeal process.

 

 

Federal Arbitration Act Text:

 

 

9 U.S.C. § 1. "Maritime transactions" and "commerce" defined; exceptions to operation of title

 

 

"Maritime transactions," as herein defined, means charter parties, bills of lading of water carriers, agreements relating to wharfage, supplies furnished vessels or repairs to vessels, collisions, or any other matters in foreign commerce wh"''commerce", as herein defined, means commerce among the several States or with foreign nations, or in any Territory of the United States or in the District of Columbia, or between any such Territory and another, or between any such Territory and any State or foreign nation, or between the District of Columbia and any State or Territory or foreign nation, but nothing herein contained shall apply to contracts of employment of seamen, railroad employees, or any other class of workers engaged in foreign or interstate commerce.

 

 

9 U.S.C. § 2. Validity, irrevocability, and enforcement of agreements to arbitrate

 

 

A written provision in any maritime transaction or a contract evidencing a transaction involving commerce to settle by arbitration a controversy thereafter arising out of such contract or transaction, or the refusal to perform the whole or any part thereof, or an agreement in writing to submit to arbitration an existing controversy arising out of such a contract, transaction, or refusal, shall be valid, irrevocable, and enforceable, save upon such grounds as exist at law or in equity for the revocation of any contract.

 

 

9 U.S.C. § 3. Stay of proceedings where issue therein referable to arbitration

 

 

If any suit or proceeding be brought in any of the courts of the United States upon any issue referable to arbitration under an agreement in writing for such arbitration, the court in which such suit is pending, upon being satisfied that the issue involved in such suit or proceeding is referable to arbitration under such an agreement, shall on application of one of the parties stay the trial of the action until such arbitration has been had in accordance with the terms of the agreement, providing the applicant for the stay is not in default in proceeding with such arbitration.

 

 

9 U.S.C. § 4. Failure to arbitrate under agreement; petition to United States court having jurisdiction for order to compel arbitration; notice and service thereof; hearing and determination

 

 

A party aggrieved by the alleged failure, neglect, or refusal of another to arbitrate under a written agreement for arbitration may petition any United States district court which, save for such agreement, would have jurisdiction under title 28, in a civil action or in admiralty of the subject matter of a suit arising out of the controversy between the parties, for an order directing that such arbitration proceed in the manner provided for in such agreement. Five days' notice in writing of such application shall be served upon the party in default. Service thereof shall be made in the manner provided by the Federal Rules of Civil Procedure. The court shall hear the parties, and upon being satisfied that the making of the agreement for arbitration or the failure to comply therewith is not in issue, the court shall make an order directing the parties to proceed to arbitration in accordance with the terms of the agreement. The hearing and proceedings, under such agreement, shall be within the district in which the petition for an order directing such arbitration is filed. If the making of the arbitration agreement or the failure, neglect, or refusal to perform the same be in issue, the court shall proceed summarily to the trial thereof. If no jury trial be demanded by the party alleged to be in default, or if the matter in dispute is within admiralty jurisdiction, the court shall hear and determine such issue. Where such an issue is raised, the party alleged to be in default may, except in cases of admiralty, on or before the return day of the notice of application, demand a jury trial of such issue, and upon such demand the court shall make an order referring the issue or issues to a jury in the manner provided by the Federal Rules of Civil Procedure, or may specially call a jury for that purpose. If the jury find that no agreement in writing for arbitration was made or that there is no default in proceeding thereunder, the proceeding shall be dismissed. If the jury find that an agreement for arbitration was made in writing and that there is a default in proceeding thereunder, the court shall make an order summarily directing the parties to proceed with the arbitration in accordance with the terms thereof.

 

 

9 U.S.C. § 5. Appointment of arbitrators or umpire

 

 

If in the agreement provision be made for a method of naming or appointing an arbitrator or arbitrators or an umpire, such method shall be followed; but if no method be provided therein, or if a method be provided and any party thereto shall fail to avail himself of such method, or if for any other reason there shall be a lapse in the naming of an arbitrator or arbitrators or umpire, or in filling a vacancy, then upon the application of either party to the controversy the court shall designate and appoint an arbitrator or arbitrators or umpire, as the case may require, who shall act under the said agreement with the same force and effect as if he or they had been specifically named therein; and unless otherwise provided in the agreement the arbitration shall be by a single arbitrator.

 

 

9 U.S.C. § 6. Application heard as motion

 

 

Any application to the court hereunder shall be made and heard in the manner provided by law for the making and hearing of motions, except as otherwise herein expressly provided.

 

 

9 U.S.C. § 7. Witnesses before arbitrators; fees; compelling attendance

 

 

The arbitrators selected either as prescribed in this title or otherwise, or a majority of them, may summon in writing any person to attend before them or any of them as a witness and in a proper case to bring with him or them any book, record, document, or paper which may be deemed material as evidence in the case. The fees for such attendance shall be the same as the fees of witnesses before masters of the United States courts. Said summons shall issue in the name of the arbitrator or arbitrators, or a majority of them, and shall be signed by the arbitrators, or a majority of them, and shall be directed to the said person and shall be served in the same manner as subpoenas to appear and testify before the court; if any person or persons so summoned to testify shall refuse or neglect to obey said summons, upon petition the United States district court for the district in which such arbitrators, or a majority of them, are sitting may compel the attendance of such person or persons before said arbitrator or arbitrators, or punish said person or persons for contempt in the same manner provided by law for securing the attendance of witnesses or their punishment for neglect or refusal to attend in the courts of the United States.

 

 

9 U.S.C. § 8. Proceedings begun by libel in admiralty and seizure of vessel or property

 

 

If the basis of jurisdiction be a cause of action otherwise justiciable in admiralty, then, notwithstanding anything herein to the contrary, the party claiming to be aggrieved may begin his proceeding hereunder by libel and seizure of the vessel or other property of the other party according to the usual course of admiralty proceedings, and the court shall then have jurisdiction to direct the parties to proceed with the arbitration and shall retain jurisdiction to enter its decree upon the award.

 

 

9 U.S.C. § 9. Award of arbitrators; confirmation; jurisdiction; procedure

 

 

If the parties in their agreement have agreed that a judgment of the court shall be entered upon the award made pursuant to the arbitration, and shall specify the court, then at any time within one year after the award is made any party to the arbitration may apply to the court so specified for an order confirming the award, and thereupon the court must grant such an order unless the award is vacated, modified, or corrected as prescribed in sections 10 and 11 of this title. If no court is specified in the agreement of the parties, then such application may be made to the United States court in and for the district within which such award was made. Notice of the application shall be served upon the adverse party, and thereupon the court shall have jurisdiction of such party as though he had appeared generally in the proceeding. If the adverse party is a resident of the district within which the award was made, such service shall be made upon the adverse party or his attorney as prescribed by law for service of notice of motion in an action in the same court. If the adverse party shall be a nonresident, then the notice of the application shall be served by the marshal of any district within which the adverse party may be found in like manner as other process of the court.

 

 

9 U.S.C. § 10. Same; vacation; grounds; rehearing

 

 

• (a) In any of the following cases the United States court in and for the district wherein the award was made may make an order vacating the award upon the application of any party to the arbitration –

 

o (1) Where the award was procured by corruption, fraud, or undue means.

 

o (2) Where there was evident partiality or corruption in the arbitrators, or either of them.

 

o (3) Where the arbitrators were guilty of misconduct in refusing to postpone the hearing, upon sufficient cause shown, or in refusing to hear evidence pertinent and material to the controversy; or of any other misbehavior by which the rights of any party have been prejudiced.

 

o (4) Where the arbitrators exceeded their powers, or so imperfectly executed them that a mutual, final, and definite award upon the subject matter submitted was not made.

 

o (5) Where an award is vacated and the time within which the agreement required the award to be made has not expired the court may, in its discretion, direct a rehearing by the arbitrators.

 

 

• (b) The United States district court for the district wherein an award was made that was issued pursuant to section 580 of title 5 may make an order vacating the award upon the application of a person, other than a party to the arbitration, who is adversely affected or aggrieved by the award, if the use of arbitration or the award is clearly inconsistent with the factors set forth in section 572 of title 5

 

 

9 U.S.C. § 11. Same; modification or correction; grounds; order

In either of the following cases the United States court in and for the district wherein the award was made may make an order modifying or correcting the award upon the application of any party to the arbitration –

 

 

• (a) Where there was an evident material miscalculation of figures or an evident material mistake in the description of any person, thing, or property referred to in the award.

 

 

• (b) Where the arbitrators have awarded upon a matter not submitted to them, unless it is a matter not affecting the merits of the decision upon the matter submitted.

 

 

• (c) Where the award is imperfect in matter of form not affecting the merits of the controversy. The order may modify and correct the award, so as to effect the intent thereof and promote justice between the parties.

 

 

9 U.S.C. § 12. Notice of motions to vacate or modify; service; stay of proceedings

Notice of a motion to vacate, modify, or correct an award must be served upon the adverse party or his attorney within three months after the award is filed or delivered. If the adverse party is a resident of the district within which the award was made, such service shall be made upon the adverse party or his attorney as prescribed by law for service of notice of motion in an action in the same court. If the adverse party shall be a nonresident then the notice of the application shall be served by the marshal of any district within which the adverse party may be found in like manner as other process of the court. For the purposes of the motion any judge who might make an order to stay the proceedings in an action brought in the same court may make an order, to be served with the notice of motion, staying the proceedings of the adverse party to enforce the award.

 

 

9 U.S.C. § 13. Papers filed with order on motions; judgment; docketing; force and effect; enforcement

The party moving for an order confirming, modifying, or correcting an award shall, at the time such order is filed with the clerk for the entry of judgment thereon, also file the following papers with the clerk:

 

 

• (a) The agreement; the selection or appointment, if any, of an additional arbitrator or umpire; and each written extension of the time, if any, within which to make the award.

 

 

• (b) The award.

 

 

• (c) Each notice, affidavit, or other paper used upon an application to confirm, modify, or correct the award, and a copy of each order of the court upon such an application. 

 

 

The judgment shall be docketed as if it was rendered in an action. 

 

 

The judgment so entered shall have the same force and effect, in all respects, as, and be subject to all the provisions of law relating to, a judgment in an action; and it may be enforced as if it had been rendered in an action in the court in which it is entered.

 

 

9 U.S.C. § 14. Contracts not affected

 

This title shall not apply to contracts made prior to January 1, 1926.

 

 

9 U.S.C. § 15. Inapplicability of the Act of State doctrine

 

Enforcement of arbitral agreements, confirmation of arbitral awards, and execution upon judgments based on orders confirming such awards shall not be refused on the basis of the Act of State doctrine

 

 

9 U.S.C. § 16. Appeals

 

 

• (a) An appeal may be taken from –

 

o (1) an order –

 

 (A) refusing a stay of any action under section 3 of this title,

 

 (B) denying a petition under section 4 of this title to order arbitration to proceed,

 

 (C) denying an application under section 206 of this title to compel arbitration,

 

 (D) confirming or denying confirmation of an award or partial award, or

 

 (E) modifying, correcting, or vacating an award;

 

o (2) an interlocutory order granting, continuing, or modifying an injunction against an arbitration that is subject to this title; or

 

o (3) a final decision with respect to an arbitration that is 

 

 

subject to this title.

 

 

• (b) Except as otherwise provided in section 1292(b) of title 28, an appeal may not be taken from an interlocutory order –

 

o (1) granting a stay of any action under section 3 of this title;

 

o (2) directing arbitration to proceed under section 4 of this title;

 

o (3) compelling arbitration under section 206f this title; or

 

o (4) refusing to enjoin an arbitration that is subject to this title

 

 

 

 

 

ECONOMIC OPPORTUNITY ACT TEXT

 

 

What is Economic Opportunity Act of 1964?

 

 

Enacted by President Lyndon B. Johnson in August of 1964, the Economic Opportunity Act was a fundamental law of Johnson’s War on Poverty. Implemented by the Office of Economic Opportunity, the legislation included a variety of social programs to promote education, general welfare and health for the impoverished in America. Although the majority of the provisions of the Economic Opportunity Act of 1964 have since been rolled back, weakened or modified, its core programs (Job Corps and Head Start) remain intact. 

 

 

The philosophy behind the Economic Opportunity Act did not focus on wealth distribution, but instead, the belief that government must provide impoverished people with opportunities to earn a respectable wage and maintain their families in a comfortable setting. President Johnson identified the constitutional basis for the Economic Opportunity Act of 1964 by stating Congress’ responsibility to provide for the general welfare of American citizens. 

 

 

Why was the Economic Opportunity Act Created?

 

 

The 1960s represented a period of great reform. During this time, poverty was rising due to the widening of the wealth gap and an assortment of other economic factors. The President’s Council of Economic Adviser’, in 1964, issued a report that focused solely on the problem of poverty in the United States. This report included statistics that revealed–in the greatest time of prosperity in the nation—that nearly 20% of American families were poor (incomes under $3,000 for a family of four). The report also revealed that over 50% of non-whites were living in poverty. 

 

 

In January of 1964, President Johnson and his cabinet developed a bill to curb increasing poverty in the United States. The provisions and the newly-found programs (explained below) of the Economic Opportunity Act were funded by Congress on the final day of the 1964 Congressional session–$800 million was delivered to the programs for the fiscal year of 1965. 

 

 

Foundation of the Economic Opportunity Act:

 

 

The Economic Opportunity Act employed two mechanisms to provide welfare to the impoverished. First, the Economic opportunity Act of 1964, established eleven federal programs that were run by the Office of Economic Opportunity—the programs are listed below:

 

 

• Job Corps: The creation of the Economic Opportunity Act of 1964 gave way to the establishment of Job Corps, which provides basic education, work and training resources in residential centers for young students, between the ages of sixteen and twenty-one

 

 

• Neighborhood Youth Corps: The creation of the Economic Opportunity Act of 1964 established the Neighborhood Youth Corps, which provides training and employment opportunities for young men and women, between 16 and 21 years of age, who come from impoverished families and communities. 

 

 

• Work Study Programs: Central programs created by the Economic Opportunity Act, these programs provide grants to institutions of higher education (colleges and universities) for part-time employment of young students from low-income families. Candidates for these work study programs need the employment to earn money for their pursuit of education.

 

 

• Adult Basic Education: Provides grants to educational agencies (on the local level) for programs of instruction for individuals over the age of 18. Individuals who utilize this program of the Economic Opportunity Act struggle with the English language (candidates possess marginal reading and writing capabilities which serve as an impediment to employment).

 

 

• Urban and Rural Community Action: Provides technical and financial assistance to public and private nonprofit groups for the development of community action programs that yield a maximum feasible participation of the impoverished. These groups are created to give promise of progress towards the mass elimination of poverty in the United States.

 

 

• Voluntary Assistance for Needy Children: The creation of the Economic Opportunity Act of 1964 gave way to the establishment of the Voluntary Assistance for Needy Children campaign, which established a coordination and information center to encourage voluntary assistance for needy youths. 

 

 

• Financial Assistance to Rural Families: Another fundamental aspect of the Economic Opportunity Act of 1964; the Loans to Rural Families program provides financing of micro-loans (under $2,500) to low income rural families for the sole purpose of increasing their disposable income

 

 

• Work Experience: The creation of the Economic Opportunity Act of 1964 established the Work Experience program, which provides financing for pilot, demonstration and experimental projects for the purpose of expanding opportunities for work experience and necessary training of individuals who are unable to support their families. 

 

 

• Assistance for Migrant Agricultural Employees: provides assistance to state and local governments, as well as nonprofit agencies or individuals aligned with operating programs that assist migratory workers and their families with securing housing, education and resources to support their children. This program also provides sanitation help for those in need.

 

 

• Employment and Investment Incentives: Another critical aspect of the Economic Opportunity Act of 1964, this program provides loans (under $25,000) to single borrowers to create small businesses and innovate the market

 

 

• Volunteers in Service to America (VISTA Program): This program of the Economic Opportunity Act of 1964 recruits, selects, refers and trains volunteers to all local and state agencies, as well as nonprofit organizations, throughout the United States. The volunteers supplied by the VISTA program are required to perform duties to combat poverty in the United States.

 

 

In addition to creating and implementing the above programs, the Economic Opportunity Act of 1964 empowered the Director of the Office of Economic Opportunity to coordinate anti-poverty efforts of all government agencies. This provision of the Act was deemed necessary by Johnson, who was tired of the government’s inability to mitigate the social costs that arise due to poverty. 

 

 

This provision (the second mechanism of the Act) of the Economic Opportunity Act of 1964 directed government agencies to establish an Economic Opportunity Council–which was chaired by the director of the OEO and composed of various members of Johnson’s cabinet—to consult with various officials in effectively carrying out the above programs and functions. 

 

 

 The Economic Opportunity Act’s Impact:

 

 

From the onset of its passing, Republicans (and many Southern Democrats) attempted to dismantle the Economic Opportunity Act of 1964 and transfer the operating programs to various government departments and agencies. Congress eventually repealed the Act in 1981; however, a number of the programs established by the act have survived to present day. The majority of historians and political enthusiasts who debate the reasons for the OEO’s failure point to circuitous government actions—the flow of funds needed to support the programs were not properly handled. Additionally, the core vision of the Economic Opportunity Act was to rid all Americans of poverty. This goal, which is incredible ambitious in general, was not met with calculated means. There was no provision for the employment of adult men, there was no coordination between programs and lastly, commitment to the objective often took a backseat to international conflicts or other macro-economic incidences. 

 

 

 

The economy consists of the system of an area or country regarding its capital, labor, land resources, manufacturing, distribution, trade, and the consumption of services and goods in that specific area. The economy can also be thought of as the network of services and goods are exchanged in accordance to supply and demand between participants by either barter or a form of exchange with a given credit or debit amount defined within the network. All occupations, economic agents, professions, and economic activities, contribute in some way to the economy. Saving, investing, and consumption are the main variable components of the economy and are used to determine market equilibrium.

A specific economy is the result of its development that includes social and historical organization, its geography, ecology, and natural resource endowment, as well as its technological evolution. These points create the content, context, and set up the parameters and conditions in which an economy functions.

Because of the growing importance and influence of the financial sector in more modern times, the economy is often looked at by politicians and analysts to as the portion of the economy that deals with the production of goods and services as well as the portion of the economy that looks at selling and buying on the financial markets. Both of these can be measured in many different ways. Some of the helpful indicative values used when looking at the economy include:

• Balance of Trade

• Consumer spending

• Exchange Rate

• GDP

• GDP per capita

• GNP

• Gross domestic product

• Interest Rate

• National Debt

• Rate of Inflation

• Stock Market

• Unemployment

 

A home based business opportunity is any type of business that does not require a physical place of business, other than your residence.  Home based business opportunities have become much more popular in recent years, due to global connectivity by email, the internet, and smart phone devices.  

1. The first step in running your home business opportunity is to ensure that your business can be adequately run out of your home.  If your business requires in person communication, meeting with clients, or visibility to the public, you may have issues with your business not having a physical location.  Instead, businesses that can be done completely over the phone or electronic communication are adept for a home based business opportunity.   

2. Once you have determined your business can be run from home, you must ensure that you can work at home.  Working at home can be difficult for many people, due to the possible distractions, lack of leaving your home during the day, and the isolation that may occur.  It is important that you realize that working from home is very different than working in an outside place of business.  You will also need to ensure that your home is equipped to handle your business.  You will need some space (such as a room set aside as an office), low noise levels, and a steady communication network.  

3. After you have determined that a home based business opportunity is right for you, you will need to determine what type of business you want to run and at what level you want to run it.  The most common home based businesses are purchasing and seeking items over internet markets, such as EBAY or craigslist.  Products that you produce or items secured for resale have boomed in recent years due to the popularity of these types of websites that bring purchasers and sellers together over electronic space.  Other businesses may also be available, such as the writing and editing of documents, consulting, or even communication jobs.  

4. Finally, once you have chosen a home based business opportunity and determined that you and your home are equipped to handle it, you should begin to implement the business into your home.  Prepare your workspace, set aside a place for any needed instruments of the trade, and start to build your client base.  When you start putting your business plan into place, you will probably need to make many changes and adapt to unforeseen circumstances.   

You home based business opportunity will need constant maintenance and updates in order to survive.  Just like any business with a physical building, you will need to keep track of any billing, accounting, and legal work that is necessary to keep your business running.  You will need to document your accounts receivable and business expenses and have them prepared for taxation.  If your business starts to grow, you may need to consider bringing in additional employees, which may or may not be able to work from their home or from yours.

Updating your home business is always something you need to consider.  All businesses must adapt or they face failure from new and more efficient businesses.  Consider watching what other home businesses do and try to learn from their mistakes or their successes.  

Property management is an aspect of real estate that deals with maintenance and other needs for property with the purpose of maximizing and preserving the value of the property.  The property may be managed by the property owner, tenant, or contracted property management company.

Real estate companies have the initial responsibility of property management with their interest in the property management is to maximize the value of the property to potential buyers.  After the duty of property management has passed to the buyer, the property owner and the tenant must agree to a level of property management duties.  This may range from full responsibility on the tenant or landlord or a hybridized agreement that has the landlord responsible for major repairs and other aspects of property management.

Property management companies act on behalf of a landlord and interact with the tenants of a property.  The property management company may collect rent, find tenants and contract for repairs.  In many situations, the property management company fulfills the role of the property owner in all cases, including disputes stemming from non-payment of rent, eviction and neighbor complaints.  Requirements for property management companies vary by state with some states requiring real estate licensing for property management companies.  This is to ensure that the property management companies are abreast of real estate law in the state and will abide by those laws when dealing with tenants.

There are a number of property management software available that can help property owners manage the expenses and rental income from properties.  Additional features in property management software include the ability to general rental documents, such as lease agreements and generate tax forms in compliance with state and local tax laws.  Popular developers of property management software include Quicken, MDansby and Advanced Management Systems.  Property management software can be online subscription based or Graphical User Interface based for use on personal computers for a flat fee.  Some programs have bulk pricing for use on multiple computers.  This will be useful for property management companies that wish to automate some of their systems.

Unlike property management, which is the management of a tangible investment, assets management is primarily the management of investment funds such as stocks, commodities and equity funds.  Asset management is broken up into fixed income, equity and alternative investments, which include hedge funds, and real estate investment.  Individuals that work within assets management may specialize in any of the previously mentioned categories, helping individuals invest and manage their assets wisely.  Assets management is measured against a benchmark, which denotes how well it is “performing” which is a measure of how well the investment returns are comparable to other similar assets under management.  The performance of assets is the best way to determine if the asset manager is investing your assets safely.

 

CLAYTON ANTI-TRUST ACT TEXT

 

 

What is the Clayton Anti-Trust Act?

 

 

The Clayton Anti-Trust Act of 1914 was an addition to the Sherman Antitrust Act of 1890 that protected consumers against harmful, anti-competitive business arrangements such as monopolies and cartels by defining prohibitions and an enforcement scheme.

 

 

Discussion of Price Discrimination

 

 

The Clayton Anti-Trust Act discusses the effects of price discrimination, which is the sale of goods of services by an entity at different prices to different groups of consumers.  This is considered an anti-competitive practice as it indicates the power of the entity to fix and dictate prices for goods and services in order to hamper or eradicate competition.  In this pricing scheme, the commercial entity will charge every consumer individually according to his or her willing to pay for the good or service.  This can be harmful the consumer as it eliminates the consumer surplus, which would have saved the consumer money.  Instead, paying exactly what the consumer is willing to pay, the consumer is likely to pay far beyond the manufacturing costs of the item.

 

 

Price discrimination may hurt suppliers as well buy making it difficult to compete with artificially low prices.  If a large company seeking to increase its market share decides to price goods in a market far below what any other supplier can afford to charge, then the supplier will collapse under this predatory pricing scheme.  Once the larger commercial interest achieves dominance over a good or service market, they may dictate pricing as they please, which is an anti-competitive measure that the Clayton Anti-trust Act attempts to blunt.  The bill’s text specifically states that price discrimination tends to “create monopolies in any line of commerce.”

 

 

In terms of this act, while it cannot outlaw price discrimination, it can control agreements and dealings that would constitute price discrimination and take rectification measures.

 

 

Mergers and Acquisitions

 

 

This is one of the more important features of the Clayton Anti-Trust Act and remains in effect today.  This requires commercial entities that intend to form larger enterprises through mergers and acquisitions notify the Federal Trade Commission and the Department of Justice Antitrust Division if they exceed certain thresholds that are dependent on GDP and adjusted on a yearly basis.  The controls on mergers and acquisitions prevent one entity from gaining an unfair advantage and dominating a market, which would allow it to engage in anti-competitive pricing and other abuses of their controlling interest.  It is the responsibility of government authorities to ensure that mergers will not substantially lessen competition.

 

 

The Clayton Anti-Trust Act specifically mentions holding companies as another means to achieve a monopoly through holding the stocks of other companies in the same manner as the trusts that the Sherman Act attempted to eradicate.

 

 

Exclusive sales contracts

 

 

Also known as exclusive dealing, this is mostly illegal in the US unless registered and approved by the federal government.  It prevents the entry of new firms into the market by preventing potential suppliers or outlets from dealing with these new firms.  This presents a type of non-competitive market condition called vertical integration that can be potentially harmful to the consumer if the supplier has control over all phases of the manufacturer of the product, from the raw material extraction to final resale, effectively allowing them to set an unfair price due to lowered input costs.  If this advantage affects the competitiveness of the markets, then enforcement may be necessary.  

 

 

The Clayton Anti-Trust Act restricts the use of exclusive sales contracts “tying” a supplier to another commercial interest to allow for a competitive marketplace with pricing determined by the market and not through exclusive dealings.  Third line forcing, which is a supplier compelling the consumer to purchase goods from a third party and refusing to supply the product if that condition is not agreed to, is also prohibited.  It is anti-competitive to tie the goods of one supplier to another and compel the consumer to abide by that agreement.  An example would be a computer manufacturer refusing to let a consumer buy the product without also purchasing a third party desk to place the computer on.  This arrangement can also be used to fix the price of products by exploiting an advantage that one product has on the market.

 

 

Corporate structure

 

 

Section 8 of the Clayton Anti-Trust Act prohibits an individual from serving as the director of more than one corporation, also a key indicator of an unfair market advantage or corporate loophole.

 

 

In regards to unions

 

 

The Clayton Anti-Trust Act does not cover unions as these organizations represent the labor of workers, which is neither a “commodity nor article of commerce.”  Actions by the union are not considered anti-competitive and they may engage in activities against the employer, such as striking.  This contrasts to the preceding Sherman Anti-trust Act that was sometimes used as part of “union busting” due to the dubious classification of unions as “cartels of human labor.” Therefore, injunctions could no longer be used to end most labor actions.

 

 

Enforcement of the Clayton Anti-Trust Act

 

 

The Anti-Trust Division of the US Department of Justice works with the Federal Trade Commission to regulate and if necessary, file suit against violators of anti-trust laws.  For example, the Department of Justice may bring suit against several service providers that are colluding on prices offered to consumers.  This constitutes a cartel of sorts and is an anti-competitive environment that harms consumers.  Although collusion may resolve itself rise the rise of new firms or one commercial interest cheating the others, the government regulators can also get involved and break up the cartel.

 

 

Criticism

 

 

Some have criticized government regulations such as the Sherman Anti-trust Act and the Clayton Anti-Trust Act as stifling innovation and creating undue inefficiency in the free market.  These critics argue that larger commercial entities have the ability and incentive to continue innovation to maintain their market share and that supporting smaller, less capable enterprises in the name of competitiveness is inherently anti-competitive.  These proponents also strongly believe in the self-correcting nature of markets and the eventuality that inefficient collusive enterprises that work contrary to consumers will ultimately fail.

 

 

This legislation is also accused of destroying “economies of scale” by preventing business expansion that in turn prevents cost lowering mechanisms such as bulk buying, long term contracts and specialization.  Larger commercial enterprises also get better interest rates from banks for long term borrowing.  Increasing economies of scale create natural monopolies that usually benefit the consumer as the ever expanding commercial interest gets increasing capable of providing lower cost goods and widespread commercial success from expanding in new markets.

 

 

Email marketing is an important tool in any online business.  Email marketing entails sending online users e-mail notifications about your product or service in the form of advertising.  Studies have shown that other than search marketing.  Last year alone businesses spent over $400 million on Email marketing to get their product or service out to the consumer.

There are a number of reasons to perform Email marketing.  Sending e-mails to prior customers helps keep them abreast of new products and sales.  Email marketing is a wonderful tool for developing customer loyalty and repeat business.  You already know that the individual receiving the e-mail is a potential client due to their previous business relationship with you.

Email marketing is also used to develop new customers through random bulk e-mailing to individuals who, through research, have been shown to be potential clients.  Email marketing also takes the form of advertisements found in e-mails from other businesses that already have a relationship with the e-mail recipient.  

There are many advantages to Email marketing.  First, and foremost, Email marketing is inexpensive.  In comparison to the amount of money it costs to send out flyers and letters through the mail, Email marketing is extremely cheap.  You also have a wealth of potential consumers through the internet.  By using Email marketing you can access clientele throughout the U.S. and the world.  Other forms of marketing do not make this option possible.  

There are disadvantages associated with online marketing.  More than 50% of e-mails received by potential clients through Email marketing are lost due to incorrect e-mail information and spam filters.  Even when an e-mail does go through it is much easier for a person to, either intentionally or unintentionally, ignore or delete these e-mails.  A tangible letter is more likely to be, at least, looked at than an e-mail advertising a product or service.  

When you are performing online marketing you should be abreast of laws and regulations, both in the United States and, if you are Email marketing overseas, the laws of other countries.  The United States Controlling the Assault of Non-Solicited Pornography and Marketing Act requires certain procedures when sending e-mails for the purpose of soliciting business.  Penalties for violations of the law can be $16,000 for spamming per recipient.  There are guidelines that you should know, including laws requiring Email marketing to stop at the request of the customer, among others.  You should contact the FCC, FTC or other appropriate government agency so that you can be aware of these regulations.  If you are unaware of them and you violate the laws you will be penalized.  Ignorance of the law is not a defense.

Social media has been defined as “a group of internet based applications that build on the ideological and technological foundations of web 2.0 that allow the creation and exchange of user generated content.” Social media Marketing is an online marketing tool that businesses, entertainers, charities,  politicians, and professionals use in order to get their product or service out to the public through advertising, blogs, “pages”, videos and numerous other forms.  The internet has surpassed television and radio as the number one marketing tool for advertising.  It is low costn and the ability to reach customers is open and infinite.

Social media marketing takes advantage of social media networks such as facebook, twitter, myspace and others in getting information about a product or service into the stream of commerce.  Social media marketing takes on many forms.

Marketing strategies involving social media marketing are somewhat easier to perform than traditional marketing.  Facebook, for example, is essentially a marketing researchers dream.  Every individual on facebook has pictures, profiles, and status  updates that can help a social media marketer discover everything they would want to know about an individuals propensities to purchase certain products or services.  It is simple for social media marketing to pinpoint what individuals should be solicited with advertisements for different products.

Some of the greatest beneficiaries of online marketing strategies are entertainers.  When you press “like” on a certain musician or entertainers “page” you are letting them know that you are a potential customer and they will then be able to easily and efficiently send you information about concert dates, new albums, and other important information about that subject.

Social media marketing is a great tool for businesses because when advertising is done over social media marketing it is essentially coming from a trusted third party source.  Where an individual may ignore an advertisement sent to them directly from a business through the mail, e-mail, or website advertising; social media marketing is displayed in a way that gives the impression that the social media network believes that the information would interest you when in reality it is a marketing technique.

SEO marketing, short for Search Engine Optimization, is an online marketing strategy used to optimize the number of “hits” that a business, or website, will receive when an individual inputs product, or service, specific data into a search engine.  Search engine optimization requires research on how search engines work; what people search for; and manipulating search engine algorithms to result in the business, or website, appearing higher up in the search engines list of websites that the consumer will find helpful.  

The most prevalent form of search engine optimization is the use of “keyword” manipulation.

When using this technique you must first build a list of keywords that you think people will use to search for your product. This entails that you think like your consumers. What keywords best describe your business?; are there keywords that are associated with your niche that individuals may use while searching?; Take advantage of other products and websites within your niche. For example, if you were in the business of selling soda over the internet it would be a good idea to have the name “coco-cola” within your website. Famous trademarks can be used to your advantage. Although, in this situation, the traffic that your website will receive will include many people who are searching for “coca-cola”, because you are in the same niche, you may be able to win some customers.

Take advantage of Wordtracker in refining your keyword search. Wordtracker is an SEO marketing tool that compiles a record of the number of times specific keywords are used on the internet. By using this SEO marketing tool you will be able to get a better idea of what keywords and phrases you should use in your business.

You should look at your competition. Go to their webpages and find out what keywords they are using; are their ways to make your keywords different to reduce the chances of a potential customer going to someone else’s site. Also take advantage of pay-per-click services to determine if your keywords are getting the amount of traffic you want. Finally, once you’ve come to the decision of what keywords and phrases are best suited for your business you should develop your web content around them.  

There are a number of resources for seo marketing that can be used directly from search engines.  Major search engines have directories to help seo marketing companies plan strategies for optimal hits.  The Yahoo directory, Open Directory Project and Google Webmaster Tools are optimal sources for seo marketing.

There are entire corporations that do solely research on SEO marketing.  They collect data on what words and sequences are inputted into search engines. They help e-businesses design their websites to generate maximum e-traffic.

Other methods of SEO marketing include crawling and cost per click, where an SEO marketing company will pay a search engine to help optimize their hits and pay a certain amount of money for each time that someone accesses their website through the use of that search engine.  SEO marketing also involves cross linking and constant updating.  As changes in business strategies, news, media, and other information change it is more likely that people will be searching for that information.  For example, when Lindsay Lohan was sentenced to prison it was a hot new source.  A good SEO marketing company would go through their related content and update their information to take advantage of the swarm of individuals looking for information on that topic.

Website marketing is a form of Internet marketing that envelops advertising and marketing that businesses, marketing companies, professionals, and individuals use to market their goods and services over the internet. Internet marketing can take the form of search engine marketing; search engine optimization; banner ads; and pop-up ads.

There are industries devoted solely to website marketing. As the world of internet business grows, so do marketing and advertising on the internet. Just as companies will have billboards on major highways, companies will put banner ads and pop-up ads on highly trafficked web sites. One of the most profitable ways to make money over the internet is to develop blogs, and other information sources and rely on advertising for income. The more traffic you have coming to your website the more money and more advertisers you will get.

website marketing involves extensive research.  Depending on what the website is that you are looking to advertise on the more expensive the advertisement will be.  Location, location, location applies to, not just real estate in the real world, but also to the internet as well.  There is no point to having your website marketing advertisement soliciting dog food on a webpage for burial supplies.  You should analyze your product and do research on webpages that will most likely lead to traffic for your business.

 

Another tool that is useful in deciding where and when to use website marketing is through a search engine.  Input keywords into search engines that best describe your product.  The websites that come up in the top 10 on search engines are the websites that you will most want to advertise on.  This shows that that website attracts the kind of clientele that will be most interested in your product.

You should not only focus on the website directly, but where on the website your advertisement will be.  Online marketing companies spend countless hours researching where the optimal spots are on a website for advertising to specific clients.  They look to find where peoples eyes move to on a website, what colors, font, and designs people will be more attracted to.

Website marketers advertise on the internet and you can find one through the use of a search engine.  Being that they are in the business of optimizing hits on websites it is probable that the website marketing companies at the top of a search list will be the best ones.  Many of thes website marketing companies promise thousands of hits for around $10.  You should research them, get testimonials and hire the right one for you.

There are advantages and disadvantages to e-commerce and website marketing.  Website marketing is inexpensive in relation to tangible marketing. Where, in real life, their are only so many locations that you can advertise in their are literally infinite possibilities for website marketing over the web. You will have to pay more money depending on the amount of traffic the website generates but either way it is still less expensive than billboards, television ads, and magazine ads. Website marketing has its disadvantages in that most website marketing ads are grouped with a number of other ads on the same page. Where in television and magazine advertising the ad is the only thing on the television or magazine page. In website marketing there may be dozens of advertisements on one website and even though it is there it may not be seen by the audience.

In many situations website marketing must comply with government regulations. The FCC, FTC and other government entities have taken on websitet marketing in the same way as regular marketing techniques. It is a good idea to keep abreast of rules and regulations concerning these matters.