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In commercial law, a principal is a person, legal or natural, who authorizes an agent to act to create one or more legal relationships with a third party.This branch of law is called agency and relies on the common law proposition qui facit per alium, facit per se (from Latin: "he who acts through another, acts personally").
In law, a person is acting in a position if they are not serving in the position on a permanent basis. This may be the case if the position has not yet been formally created, the person is only occupying the position on an interim basis, the person does not have a mandate , or if the person meant to execute the role is incompetent or incapacitated.
For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
The law does not regard the position of these employed legal advisors as being different from those in private practice: They are, no doubt, servants or agents of the employer. For that reason [the first-instance judge] thought they were in a different position from other legal advisers who are in private practice.
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Legal-project management meets traditional project management particularly in the area of electronic discovery. [5] E-discovery in particular has a set of regularized, repeatable, and measurable practices and has been subject to great cost-control pressure for the past few years, making it a specialty within law amenable to traditional project management.