Week 10 EOC: The Role of a Promoter

"When an individual has an idea for a new business venture, he or she may set about interesting others in the venture and persuade them to contribute capital to a company to be incorporate for the purpose of carrying on the venture. The individual will then be described as ‘promoter’ of the company." https://www.lawteacher.net/free-law-essays/business-law/role-of-promoters-in-company-establishment-business-law-essay.php A promoter is meant to promote something or someone, to get their name out here and make it known. The promoter is supposed to help make a product successful, no matter what the product is. They get the name known, and they shop the product around places where people need or will like the product. "In the 19th century, when industrial revolution came and companies flourished, the concept of promoter gained substantial importance like no other occupation, as there were no restrictions on advertising immediately to the public, inviting them to take shares in new companies, some promoters took advantage of their position and of public sympathy and hence defrauded the public on large extent." https://www.lawteacher.net/free-law-essays/business-law/role-of-promoters-in-company-establishment-business-law-essay.php. The promoter is extremely important in the success of whatever they are meant to promote. They carry out the necessary investigation to find out whether the formation of a company is possible and profitable. Thereafter, they organize the resources to convert the idea into a reality by forming a company. In this sense, the promoters are the originators of the plan for the formation of a company. https://www.lawteacher.net/free-law-essays/business-law/role-of-promoters-in-company-establishment-business-law-essay.php