Place

General

While it might seem sufficient, from the business systems perspective, to simply identify an address, the idea of Place in business applications go well beyond describing its location. Places designate where business personal property is located (e.g. product inventories & fixed assets), they are associated with coarse grained capacities for work, they establish the dates/times of transactions, and they allow controls for transaction processing and controls for the people working from such Places.

Importantly the designation of a Place of business is also a statement of the legal jurisdictions under which business is conducted, commonly establishing the legal, regulatory, and taxation requirements of that business at that location.