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Discuss the difference between process-based and network-based structures.
Actual Authority
The specific powers that an agent is given by a principal to carry out tasks on their behalf.
Partnership
A legal form of business operation between two or more individuals who share management and profits.
Winding-Up Stage
The process of settling the affairs of a company, involving the liquidation of assets and distribution of proceeds to creditors and shareholders, as part of the company's dissolution.
Termination
The action of bringing or coming to an end, which can refer to contracts, employment, negotiations, and other engagements or agreements.
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