THC 6 (From Oligopoly to Obligations)

OLIGOPOLY

It is a market where only a few companies sell most of the products or services, and they have a big influence on prices and choices.

COMBINATIONS

refer to the intersection and overlap of constitutional provisions as they apply to hospitality. For instance, the right to privacy often combines with the duty of establishments to maintain security.

RIGHT TO PRIVACY + RIGHT TO SECURITY

Guests enjoy privacy in their accommodations, but hotels also have the duty to ensure safety.

LABOR RIGHTS + NATIONAL PATRIMONY

Workers in the hospitality industry are entitled to fair wages and safe conditions, while the Constitution prioritizes Filipino ownership and employment.

CULTURAL PRSERVATION + ECONOMIIC GROWTH

Hospitality establishments must both promote Filipino culture and contribute to economic development.

FREEDOM OF ASSEMBLY + GENERAL WELFARE

Hotels, convention centers, and restaurants often serve as venues for gatherings and events. While freedom of assembly is protected, it must align with public safety.

RIGHT TO HEALTH & ECOLOGY + RIGHT TO BUSINESS

Establishments have the right to operate as businesses but must follow environmental and health standards.

Equal Protection Clause + Non-Discrimination in Hospitality

EQUAL PROTECTION CLAUSE = NON-DISCRIMINATION IN HOSPITALITY

Guests and employees must be treated fairly regardless of race, gender, religion,or social status.

SOLE PROPRIETORSHIP

form of business ownership which is owned and controlled by a single individua - B. O. wheeler

PARTNERSHIP

form of business organization in which two or more persons agree to contribute money, property, skills, or labor with the intention of carrying on a business and sharing its profits (and losses) among them.

MUTUAL CONTRIBUTION

Partners contribute something of value: money, property, skills, labor, or expertise.

DIVISION OF PROFITS AND LOSSES

A specific method for sharing profits/losses, usually written in the partnership agreement.

CO-OWNERSHIP OF ASSETS

Assets like restaurant equipment or hotel property are jointly owned.

MUTUAL AGENCY

Each partner has the authority to act on behalf of the partnership, creating obligations for all.

UNLIMITED LIABILITY

In a general partnership, partners are personally liable for debts and obligations of the business.

GENERAL PARTNERSHIP

It is the simplest and most common type of partnership. All partners share equally in management and liabilities.

LIMITED PARTNERSHIP

This type of partnership is often used by investors who want to fund a business without full risk. It includes: Two (2) types of partners:

• General Partner(s): Manage the business, unlimited liability.

• Limited Partner(s): Invest capital only, no management role, liability limited to investment.

LIMITED LIABILITY PARTNERSHIP

It is a type of partnership that provides liability protection for all partners. Partners are not personally liable for debts beyond their investment. It is also the preferred structure for professional services

CORPORATION

is a legal entity, meaning it is a separate entity from its owners who are called stockholders. A corporation is treated as a “person” with most of the rights and obligations of a real person.