Introduction To Construction The Management -Myassignmenthelp.Com

Question: Discuss About The Introduction To Construction The Management? Answer: Introduction Rental values are subjected to occasional rise and fall, hence the contractual rent, also known as Passing Rent, agreed upon in an existing lease is bound to differ from the current market value of rent. In case the passing rent is less than the value of the market rent, it is considered that the investment is reversionary. To evaluate the investment value of an asset, there are different methods employed by investors, depending on their internal contribution and the amount borrowed. In the current case, we shall be focussing on the Term and Reversion and the Layer / Hardcore methods for determining the Market Value of the property under consideration. Interpreting Valuations I will illustrate both the methods here, so that it is easy to understand the calculations and the results shown in the Table. We need to value the property under consideration by assuming that the Passing Rent is 1,125,000 per annum and this is expected to revert to the market rent valued at 1,148,000 per annum in about 7 years time, as per Baum Baum, (2015). We have established that the present value at 5.10% of 1 is shown in Table-02. Through Table-01 we have also established that the initial yield is 4.95% and the reversionary yield is calculated as 6.53%. The approach adopted here is known as the Term and Reversion Method and as shown in Table-03, the derived cash flow is considered as sliced vertically. I have also adopted an alternative approach and this also generates the same result. This method is the Hardcore Method and here the cash flow is sliced horizontally. The results have been shown in Table-04. For the benefit of the investor, I wish to make a note that the Total Returns shown in the calculations on the basis of 5.10% initial yield are not the investors total or overall returns. The 5.10%, all-risks yield, is notional and has been taken to imply that the actual rental growth, which is bound to increase the income generated during the holding period and will also help in producing a capital gain in the event of a resale by the investor. On these basis, it is safe to assume that the investor will be having a far higher overall rate of return, which may be somewhere between 7% and 9% p.a., asserts Myers, (2012). Interpreting Appraisals My appraisal commences with the summary of the listed office property as shown in the Data Table-01. I would like to point out that this investment may appear to be similar to a ten-year government bond. I am making this comparison by way of illustration as such bonds offer a yield of 4% and for the purpose of determining the IRR of this office property, the discount rate selected by me is also 4.38%. However, in case this same investment is made by the investor with keeping an initial yield of 6%, I would be suggesting that the investor is planning with an anticipated additional risk while determining the cash flow of the investment, keeping it over and above of the government bond, explains Baum, (2009). Although, in principal, I would say that all investment properties are bound to carry such an additional risk premium because of the liquid nature of the investments, according to Goodhart Hofmann, (2007). In the above cited office IPMS 3 property, the additional uncertainties in the above mentioned cash flow could include: The age of the office IPMS 3 property and would also include the inherent impact of its ability of re-let at the end of the current lease. There can be an uncertain but potential period of vacancy after the current lease expires and this in particular costs both time and money. Thus there can be connected uncertainty of the nature of political and economic issues as these can be affected by lack in occupational demand and lowering of market rents, in particular when the lease ends. There can be uncertainty which may occur due to slackness in future investment demand and this may affect the overall pricing of the property and may also increase the level of market risk, as per Karadimitrio, Magalhaes Verhage, (2013). The current data, shown in Table-01 has been described as Scenario-A in this report with the following basic facts about the IPMS 3 office property. Address Office A, North Street, Middletown Construction year 2015 Tenant Government Department Floor area 4,500 sq mtr Lease term 10 years, FRI, with 5 yearly, upward only, rent reviews (10 years unexpired term) Rent 1,125,000 p.a. (250 per sq mtr) Market rent 1,485,000 p.a. (330 per sq mtr) I have considered this Scenario-A only for the purpose of transactional evidence. The above noted uncertainty factors have been projected based on this scenario although it may not be possible to analyse accurately the impact created by each one of the listed factors on the final cash flow. I can safely say that any adjustments, made to the initial yield, shall be dependent on the differing characteristics of the property and also rely largely on the experience and skill of the valuer, aseert Ashworth Perera, (2015). Interpreting Analyses When I take on the interpretation analysis of the above noted Scenario-A and which has been tabulated with results in Table-05, 06 and 07, I may state that in most cases pertaining to property investments, investors have the tendency of adopting a quantitative approach. I have also adopted this approach and have assessed the Market Value of the property by assessing the worth of the property, using the market and investment criteria, as per Taylor, (2008). I have also applied measures to the individual items of uncertainty, which I have already listed above, and conducted a risk analysis to assess whether the investor is prepared to accept these inherent uncertainties at the price which is being demanded, says Taylor, (2008). Although the risk analysis approach adopted by me for this assessment has wider implications but it has been based on the practised cash flow approach. I must admit that the analysis may vary from the basic upside, downside, best case by not taking into account a more detailed sensitivity analysis of the individual input variables, such as rental growth, rental values, vacancy periods, exit yields, etc., depending on the nature of this particular investor, I have used the risk scoring models, such as Term and Reversion and Hardcore Method, as per Robinson et al, (2015). It is an established fact that this same approach is usually adopted by financial institutions when providing debt finance. However, banks unlike investors, focus less on risk of being unable to obtain a particular return on the investment and focus more on: Risk of cash flow being insufficient for covering the interest payments. Risk of the residual value of the investment, at the time of maturity of the loan, being insufficient in being able to repaying the outstanding laon balance, as detailed by Ostrowski, (2013). Interpreting Results In Scenario-A, I had made allowance within the enhanced purchase price, to the possibility of refurbishing the building after the expiry of its current lease. This does not remove the uncertainty of the buildings obsolescence and any future vacancy issues, but it allows the investor in making an assessment of the impact on his Target Return and in deciding whether it is acceptable, says Kirkham, (2014). To give an alternate to the existing scenario, I have illustrated, in Scenario-B below, considering a new debt finance, in the ratio of 65:35, whereas 65% is the borrowing and 35% is the investors contribution. This borrowing is considered to be secured against the IPMS 3 office building stated in Scenario-A above. At the time of maturity of this loan, which is in five years time, there will still be another five years time remaining for the lease term to expire, but this would not be of concern for the lender as there will not be any time-lapse in re-letting, asserts Lavender, (2014) . Even after allowing for a small downfall in the Market Value of the property during the loan term period, the probability of the borrower in not repaying the loan remains very low as the ability of the borrower in meeting the finance interest payments remains comfortable throughout the loan period, as per Towey, (2013). Thus, despite a shortening of the unexpired term of lease, the lenders cash flow has few uncertainties, has a low probability of default and thus is a low risk profile, says Pratt, (2010). On the other hand, the investors cash flow is positive, even if the shorter unexpired lease period has had a negative impact on the final value of the investment at maturity date, to the extent that this investment shows a geared IRR (Internal Rate of Return) of only 4.38% per annum, which is lower than what the investor had as the original target of 6.00%, as per Sherratt, (2015). Thus the uncertainty surrounding the potential cost of maintaining the vacant building, including the necessary refurbishment costs and including the level of rent achievable against new letting could be of importance for the investor if there is an acceptable return delivered in the medium term, says Myers, (2012). However, in another Scenario-C, I have tried to demonstrate that a lender may not be always insulated from the underlying uncertainties of the asset level cash flow. In this scenario, I assume that the same office property has now been occupied by two tenants: Address Office A, North Street, Middletown Construction year 2015 Tenant-1 Government Department Floor area 2,500 sq mtr Lease term 10 years, FRI, with 5 yearly, upward only, rent reviews (10 years unexpired term) Rent 750,000 p.a. (300 per sq mtr) Market rent 875,000 p.a. (350 per sq mtr) Tenant-2 Corporate House Floor area 2,000 sq mtr Lease term 10 years, FRI, with 5 yearly, upward only, rent reviews (10 years unexpired term) Rent 660,000 p.a. (330 per sq mtr) Market rent 700,000 p.a. (350 per sq mtr) In this scenario, an assumption has been made about the additional lease given to the Corporate House, which has been introduced when the government has only two years of lease term remaining. Here, the consideration is that the investor has acquired the property with a 6.5% net initial yield and the also that the lender is advancing loan in proportionately the same ratio and on the same terms. However, the level of uncertainty exists for both the investor and lender, as explained by Ostrowski, (2013). Conclusion In case the Corporate House vacates the property at the expiry of the lease term, there will be a fall in the interest cover ratio on the loan and this will create a breach in the terms of the loan agreement. Moreover, I am also taking into consideration the fact that there may be a likelihood that the Market Value of the cited property may fall to such an extent that the Loan to Value Ratio (LVR) rises above 75%, and this may possibly trigger another breach of the loan agreement. However, in my consideration, the biggest concern still will be effects of refurbishment and vacancy costs, which can affect the results of the cash outflow during the third year. Due margin needs to be provided for the uncertainty of the length of vacancy period, the extent of necessary refurbishment costs and also of the probability of finding a good tenant at the required rent and lease terms, as explains Baum Baum, (2015). These are some of the important issues which both the investor and the lender have to take into consideration at all times. In Scenario-C, consideration has also to be taken for the refurbishing of the vacant offices and re-let at 20 per sq mtr, after a void period of 12 months and another 9-month rent-free period. Taking such a scenario into consideration, it is imperative for the investor to achieve an IRR of around 8%, but this should be only one among a number of possible outcomes, out of which some may be less favourable. References Ashworth, A. and Perera, S. 2015 Cost Studies of Buildings, 6th ed. Routledge, Oxon. Baum, A. 2009 Commercial Real Estate Investment. Taylor Francis, London. Baum, A. and Baum, Prof A. 2015 Real Estate Investment: A Strategic Approach, 3rd ed. Routledge, Oxon. Godhart, C. and Hofmann, B. 2007 House Prices and the Macroeconomy: Implications for Banking and Price Stability. OUP Oxford, Oxford. Karadimitrio, N., Magalhaes, C. and Verhage, R. 2013 Planning, Risk, and Property Development: Urban Regeneration in the England, France, and the Netherlands. Routledge, Oxon. Kirkham, R. 2014, Ferry and Brandon's Cost Planning of Buildings, 9th ed. John Wiley Sons, West Sussex. Lavender, S. 2014, Management for the Construction Industry. Routledge, Oxon. Lester, A. 2013, Project Management, Planning and Control, 6th ed. Butterworth-Heinemann, Oxon. Myers, D. 2012 Economics and Property. Taylor Francis, London. Ostrowski, S.D.C. 2013, Estimating and Cost Planning Using the New Rules of Measurement. John Wiley Sons, West Sussex. Pratt, D. 2010, Fundamentals of Construction Estimating, 3rd ed. Cengage Learning, New York. Robinson, H., Symonds, B., Gilbertson, B. and Ilozor, B. 2015, Design Economics for the Built Environment: Impact of Sustainability on Project Evaluation. John Wiley Sons, West Sussex. Sherratt, F. 2015, Introduction to Construction Management. Routledge, Oxon. Taylor, J. 2008, Project Scheduling and Cost Control: Planning, Monitoring and Controlling the Baseline. J. Ross Publishing, Florida. Towey, D. 2013, Cost Management of Construction Projects. John Wiley Sons, West Sussex.

The Color Purple By Alice Walker Essays - The Color Purple

The Color Purple by Alice Walker Alice Walker's The Color Purple presents the life-long struggle of Celie, a black Georgia woman, who yearns to obtain confidence and self-esteem. During the early stages of the novel, references to wagons are made, signifying the ?old days,? whereas towards the end of the work automobiles surface. Though Walker never discusses any specific time or place where the story actually occurs, the change in transportation suggests about a forty-year span of Celie's life, from the beginning of the novel until the end. Written in first person, Celie writes a series of letters to God, explaining the torture that she faces, and begging him for some form of mercy. After years of abuse, both physically and emotionally, Celie discovers herself searching for some self-respect. Fonso, Celie's abusive father, forces her to marry Albert, also abusive by nature. Celie finds a degree of hope through the depiction of Albert's mistress, Shug. Shug serves as a tremendous force in Celie's attainment of confidence, as the two eventually form a strong bond. Celie's sister, Nettie, intelligent and caring who ?mean[s] everything in the world? to Celie, also faces many of the same obstacles that Celie does, but Nettie first helps Celie overcome hers. As time passes, Celie gains more and more self-respect as well as some respect from others. The central theme flowing throughout the work remains that man often defeats his problems through the nurturing of close intimate relationships. The bond between Shug and Celie allows Celie to conquer her passive behavior. Likewise, her relationship with Nettie also instills a strong sense of courage and self-esteem within Celie. Celie refuses to allow the horrible deeds of the men in her life to control her towards the latter stages of the novel. The intimate relationships that Celie shares with both the energetic Shug and the loving Nettie provides Celie with hope that she will one day come out of her passive shell. Walker captures the audience with Celie's series of letters to God that involve the audience. This unusual style of writing forces the reader to become directly involved in Celie's life. Though the work is told by Celie's perspective, the audience is able to receive adequate information about other key characters instead of only being able to venture into Celie's mind. The language used throughout the novel serves several purposes. Initially, the use of the slang serves to exhibit to the audience the illiterate Celie who just spells words as they sound. Though the novel is not written in standard English, the reader can easily identify with Celie and the other people in the novel because the slang makes for easier reading with a better idea of what message is trying to be conveyed. Walker illustrates the importance of close human relationships and how they help heal pain through this masterpiece.

Is Shirley Jackson the Lottery a Horror Story?

Is Shirley Jackson the Lottery a Horror Story?One of the more recent events in this country is the election of Shirley Jackson to the Presidency of the United States. Jackson is a very interesting figure and in fact many who read this essay will see many similarities with her on a personal level. She also had some nasty words for many people including me in her essay.The paper was written by someone named John F. Jones. The words are often quoted and often considered to be one of the most disturbing works ever written. People may think that it is one of the worst essays ever written but that is far from true. In fact it has a lot of things that makes it an interesting read.Why do you think I included the essay sample in my blog? Well, one of the things that is mentioned in the essay is 'The Lottery a Horror Story?' It's actually a funny name to call the lottery.Why do you think I included the essay sample in my blog? Well, it is a reflection of how far our society has come and people have begun to understand. Now it is not something that just a few people will understand but many people understand. This is what makes this essay well worth reading.The essay and Jones are often discussed but are they the same person? The answer is no. Jones was a poet but Jackson is a writer. The two aren't the same though.Jones actually wrote the article for a Sunday newspaper and Jackson wrote it. The lottery was never mentioned in the article but the piece was a hit as both writers were writers in the new media world. Jackson is well known for her literary pieces but the lottery piece was a hit as well.What is so interesting about this essay is the writer herself and the real person that were discussing. Jackson could have simply called it a lottery essay but I wanted to use my own name because she is one of the people that has influenced me the most and who has helped me the most.Why do you think I included the essay sample in my blog? Well, I know that in writing these thing s I am a reflection of many who have gone before me. It is a way for me to be able to give back and to contribute to the culture.

The Effect of Global Warming on the Napa Valley Essays

The Effect of Global Warming on the Napa Valley Essays The Effect of Global Warming on the Napa Valley Paper The Effect of Global Warming on the Napa Valley Paper Essay Topic: The Long Valley There is little doubt in the scientific community that this huge economy, based on grape growing, will be affected by this slow but steady climate change. However, how this region will be affected is a tater of debate. A hot year is normally associated with a boom year, offering a high yield of quality grapes for growers (1 ). However too much of a good thing can be bad. By the end of the century the increased temperature could have adverse effects on grape production and already growers in California see challenges in balancing the long growing season with the quality of the fruit being produced (3). Initial studies on the effects of increased temperatures have shown that warming improves the quality of the wine, said Gregory Jones, an Associate Professor of Geography at the American university of Southern Oregon (4). He went on to predict that if something is not done, continued warming would change the growing environment in the future. The result of this increased temperature may leave growers finding, what once was good for the grape could be disastrous. By examining past heat waves, such as the one that hit Europe in 2003, vintner are given some idea of what is in store for the future (4). Areas that were normally cooler saw an improvement in grape production while the normally warm regions saw a decline in production and quality (5). Areas most in danger by the warming limited are those that currently enjoy a long, warm growing season, such as the Nap Valley (5). According to the National Aeronautics and Space Administration (NASA) (4), if nothing is done about global warming only the coastal regions Of California, cooled by the ocean breeze, will be good for cultivating vines by 2100. In a study done by University of California at Santa Cruz researcher (5), a detailed image of how the climate in California is likely to change over the next 50 to 100 years was predicted and mapped. Their study included anticipated temperature and precipitation changes for the Tate of the California. Their results go beyond the usual speculation concerning the potential effects of climate change on the state. They were able to take expected temperature changes from increased atmospheric carbon dioxide and, with the aid of a computer program, predict environmental changes throughout the state of California (appendix 1 The United Nations has studied this issue and have predicted that without an aggressive world wide action to cut greenhouse emissions the level of carbon dioxide in the atmosphere will reach 800 parts per million (4) before the end f this century. The result will be an increased average temperature in California by 3 degrees centigrade. With much worse damage around the world through disease, drought and rising sea level. At that level of environmental change, the areas used for growing quality wine grapes will shrink by 35-80%, even taking into account the possibility of new areas being able to grow the grapes (4). A study by NASA (4) show, that areas the areas currently producing the finest most expensive wine would be reduced by approximately half while areas that are considered marginally suitable for reducing wine would be virtually eliminated. Scientists predict that climate change may shift production of the best wines from places like Nap Valley to vineyards in the Pacific Northwest and New England, locations that have traditionally been considered too cool for wine production (3). This would not only be devastating economically to the wine industry in Nap but also to the billion dollar tourist industry associated with grape growing and wine production in the Nap Valley. Not everyone agrees that global warming will be bad for wine production in Nap Valley. Some scientist predict that the warmer temperatures in the upper Nap Valley may shift south a little, not necessarily meaning hotter hoots, but making a bigger percentage of the valley warmer (2). In this climate model mountaintops will either stay the same or cool slightly due to increased fog. It may be that the state of California overall will be warmer by about 5 degrees Fahrenheit by 2055 to 2075, with 1 5 more days of temperatures over 90 degrees, but with marine influence and the predicted increase in fog, the California model wont necessarily be the Nap Valley reality (2). Dry. Snyder, from the university of California at Davis, summarized the results of a study on Nap Valley weather patterns between 191 7 and 2006 and came to the conclusion that from a growers standpoint, the weather has actually improved (6). It shows an increase in the average low temperatures for January and also an increase in average high temperatures at harvest time. But the study shows less risk of extreme rainfall or extreme high or low temperatures today than we had prior to 1 988 (6) The Intergovernmental panel on Climate Change, an international group Of undress of climatologists, has concluded that, even though crop production and yield benefit from increased CO concentration, the benefit realized will be short lived and the increased heat and eventual drought will be devastating to the wine and grape industries (4) My original hypothesis is correct and incorrect. In the short term global warming may be helpful to the wine industry of the Nap Valley. The increased temperature will have multiple outcomes; warmer weather will initially increase both quality and quantity of the grapes grown in the region. The improved weather patterns ill also be a boost to the tourist industry in the area. However, as the research shows that the long term outlook for the California wine industry may be devastating if the industry does not look to long term solutions. Facing this challenge, scientists and professionals from the wine industry are searching for ways to adapt to the changing climate. Some areas of scientific work are concentrating on how certain varieties of vines adapt to heat as well as counteracting the devastating effects of strong heat on the taste of the wine, which tends to be too sweet and to have excessive alcohol levels. Other areas of change being looked into are ways to grow grapes under trellis so that they are protected from the sun as well as the types of grapes being grown. Other possibilities are genetic altering as well as cross breeding Of vines between high quality producers and heat tolerate varieties. Water conservation is a huge issue when the climate heats up and increased irrigation is required. The final outcome of global warming on Nap Valley wine is unclear so if you enjoy a taste from the vine from time to time, now would be a good time to stock your wine cellar and enjoy it while you can. L[pick] I I [pick I [pick Appendix 1 expected changes in temperature, top photo; precipitation, middle photo; and snow accumulation, bottom photo, for California based on computer projections of the climate response to increasing atmospheric carbon dioxide. Average June temperatures are higher throughout the state. Total rainfall in March increases in northern California, with little change in the south. And the height of the snowplow at the end of March drops dramatically. Top photo; precipitation, middle photo; and snow accumulation, bottom photo, for California based on computer projections of the climate response to increasing atmospheric carbon dioxide. Average June temperatures are higher throughout the state. Total rainfall in March increases in northern California, with little change in the south.

External influences affecting the firm and its activities Essay

External influences affecting the firm and its activities - Essay Example 5 The article, â€Å"Wal-Mart files legal complaint against growing protests ahead of Black Friday† written by FoxNews.com on November 20, 2012. 6 References 8 Introduction It is factual that no business exists in a vacuum but in an external environment that consist of various factors and other players outside the business. Indeed, there are factors that the business can control. Nevertheless, the presence of external factors which the business cannot control is a fundamental challenge that all businesses face. As such, business manager must consider these factors and establish their influence on the business. The magnitude of external factors’ effect on business progress depends on the type of business and type of influence. We can conveniently classify the external factors into social, legal, economic, political, and technological factors. This paper will draw a comprehensive report on the external influences affecting four different firms and their activities. In doi ng this, the paper will summarize the information in four relevant stories that address external influences on specified firms and their activities.  The companies in this context will include the Starbucks, Cheetham Hill Construction Company, Apple, and Wal-Mart. The article, â€Å"the reality of recession for small businesses? ‘We need help' authored by Julia Kollewe, Nadine Schimroszik and Dan Milmo on 25 October 2012. ... 1). The article notes that although the construction company had recorded fair progress, the company faces serious challenges in generating new business since the recession ended. Indeed, the article reckons that the company now operates under tight margins and the company encounters challenges in paying the employees and the suppliers. In fact, the article notes that the effects of recession on construction manifested the true picture of the economy at the time. Assuredly, most small firms including Cheetham Hill Construction Company now live on a knife edge and they constantly delay payments to suppliers except to the main suppliers (Kollewe, Schimroszik &Milmo 2012, p. 1). More so, the article establishes that the company called for tax breaks to enable the company train a new generation of construction workers. Prior to the recession, the company used to take apprentices every year but now the company cannot afford that subject to the recession. Indeed, since most of the workforc e in construction comes from SMEs, the construction companies are lacking labor supply as the SMEs suffer from the recession (Kollewe, Schimroszik &Milmo 2012, p. 1). Notably, recession has very significant adverse effects on any business. Ideally, the most adverse effect of recession on business is reduced job security as workers prefer recession-proof businesses which have capacity to thrive or survive a recession. Furthermore, small business suffers the greatest loss in a recession subject to their inadequate preparedness, budget constraints, and few resources. Other effects that derive from recession include reduced cash flow, loss of demand, and marketing constraints (Sandilands 2013, p. 1). The article,

Doping in sports Essay Example | Topics and Well Written Essays - 3250 words

Doping in sports - Essay Example Seemingly, he had all figured out. He precisely knew that the venal attitude towards winning excluded the true spirit of sportsmanship and introduced a possibility of cheating, more especially through doping. Indeed, his speech was an act of prophesy because decades after, the sporting activity is saturated with incidences of doping (Burns, 2005). The most hit sporting activity has been the Tour de France cycling competition which drew the full attention of the media to the doping issue (Hoberman, 2007) an issue that had otherwise been covert prior to this. If one ever thinks that doping is a threat to the sporting activity alone then he/she is ultimately mistaken. Based on the sophistication and scope of doping, it poses a threat to more than the world of sport. Initially, doping was considered as a cheating problem but now it has reached proportions that are subject to societal concern. Indeed, as the stakes involved in the sporting activity keep on increasing, the practice continues to be widespread and consequently, the moral values of the sporting activity become questionable and the general health of the sportsmen continue to be under threat and great risk. This paper seeks to assess the issue of doping in sports and how the issue is soon running out of hand and hence the possible remedial steps that can avert the possible doping catastrophe in the sporting world. Therefore, in a bid for the paper to embrace the above scope, the paper will have the following headings; The Problem of Doping in Sports, the Aims and Motivations of the Dopers, Testing for Doping, Doping Testing strategy riddled with Challenges and the Doping Rules as Enforced by the Medical Commission of the IOC. The scope of the problem that doping in sports is, can be shown or be illustrated by looking at a few examples. For instance, in 1986, two pharmacists and a physician were indicted for having sold more than 1000 tablets of Tonedron, at

GNU Public License Essay Example for Free

GNU Public License Essay There are multiple operating systems out there available for a number of platforms, or systems, to run. The most popular of which, is Microsoft Windows. As we all know, Windows is not a free program and Microsoft is trying to instill a subscription fee to use Microsoft products. For years, the money hungry corporation has left many people searching for an alternative. In comes Linux. Linux is a UNIX based platform that uses the GNU General Public License. Linux is a very popular platform for a multitude of reasons, but above all else, it’s because it’s a free platform that has become what it is now due to GNU. The purpose of this paper is not, in fact, to speak about Linux, Windows, or any other operating system, but to talk about what the GNU public license is, and it’s role in information technology today. So what is the GNU public license? According to â€Å"GNU Operating System† (2007), â€Å"The GNU General Public License is a free, copyleft license for software and other kinds of works.† (Preamble). What does this mean? Well, a copyright license for software, or any other type of works, are designed to take away the freedom of developers to share or change the software or work licensed. For example, Microsoft has a license agreement that prevents you from doing any modifications to any of their software, and stipulates any fees or distributions with that software. The exact opposite is true for the GNU General Public License as its intentions is to guarantee your freedom to modify and share any and all versions of a program or software covered by the GNU. This, in turn, ensures the software, or works, will remain free for all of its users. The GNU Public Licenses are designed to enable individuals the right to freely distribute copies of the free software, with provided source code, that you can modify and charge for if you like. If you modify it, add your own source coding to enhance or individualize the program, you have the right to charge for the software. You can also use parts, or all, of the coding from these software applications in new free programs. In order to protect your rights, the GNU prevents others from denying, or  forcing you to relinquish any rights you have to the software. Now, with that being said, if you wish to distribute copies of the software, modify it, or sell it, you will need to comply with certain responsibilities to respect the freedom of other potential users of this software. So, if you decide to distribute copies of a program you’ve been working on under the GNU, free or otherwise, you should pass on the same rights to others that you received yourself. This means you need to make the source code available for those just as it was made available for you. Developers using the GNU general public license protect your rights in two ways. This is done by asserting a copyright on the software, as well as offering you access to this license to legally give you permission to modify, copy or distribute it. On the same note, for the author or developers’ protection, the GPL states there is no warranty to cover any software obtained under the GNU. For the protection of the developers, or any authors, the GPL requires that any modified versions must be marked as changed, so that any potential problems will not be attributed mistakenly to any previous developers. Finally, software patents constantly threaten all programs. To ensure their protection, the GPL assures that all patents cannot be used to render any program as non-free. The GNU general public license is a remarkable agreement giving many developers the free reign to modify and personalize software that they did not originally develop. This allows businesses the right to customize programs to fit their needs, and not be liable for any wrongdoing by modifying the original software. I am a huge fan of the GNU, and highly recommend you look into the use of GNU software as well. References GNU Operating System. (2014). Retrieved from http://www.gnu.org/copyleft/gpl.html Stalling, W. (2012). Operating Systems: Internals and Design Principles (7th ed.). Retrieved from https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:44214502/context/co/view/activityDetails/activity/987e268c-c478-4f85-ab08-ea8d45bb90a3/expan