Business Entities, Laws, and Regulations Paper

The business entities of corporations and partnerships share many similarities, however key difference exist, primarily in terms of formation, taxes and liability. This section will largely address the issue of liability, in terms of the effects of damages, disclosure requirements and personal liability for both corporations and partnerships. Additionally Amazon will be examined as a partnership rather than a corporation to further illustrate these differences.

The difference between statutory law and common law is that statutory law is a written law where common laws are based on any prior court decisions and are legal binding. For statutory laws the government, state, and local agencies issue written statutes and regulations which eventually become part of statutory law, as for common law it is prior case decisions and rulings that are followed unless a judge finds a big difference in the between the previous case and current case.

Beginning a new business venture sounds like a easy task. All you need is a great idea, opportunity to select your team so you can begin to make some moves and find a few investors to invest in to this dream you have. Before you know it you are making a profit and moving onto a new location. Sounds easy but there is much more that goes into starting a new business than most people may know. To accomplish this, the business has to satisfy several objectives that exclusively add to the business. This paper will narrate some of the particulars of previous works from week two, three, and four with information such as the business and

Vacation condo owners in Canmore, a high demand town can greatly benefit from using listing websites like Vrbo and Airbnb. Below is a guide that gives an overview on how owners can use the aforementioned listing websites for Canmore property management:

Forming a business entity requires a great deal of knowledge before any decision is made. There are advantages and disadvantages to each entity and without proper understanding of what they are, individuals could make costly errors and forfeit crucial perks that would be in the businesses best interest. In the situation in New State, Alex, Bill, Carl, and Devon have inherited their father’s operating organic farm and seek advice, in regards to which form of business organization would best fit their particular criteria. They have emphasized their immediate concerns, wants and needs from a business standpoint, but also stress their strong faith to uphold and operate in accordance with the Christian worldview. Their criteria is as follows, (1) create an entity which averts formalities or complexities, (2) develop a structure allowing cousin Xavier to handle the day-to-day, (3) minimize taxes on the entity, (4) avoid any personal liability, (4) keep business in the family only, (5) remain in accordance with the Christian worldview, (which will be the final topic in this discussion). After reviewing all criteria, it will be advised that forming a limited liability company (LLC) and electing for an S corporation status would be of best interest for the family. Discussed below, is the strengths and weaknesses of each form of business organization as it applies to their unique situation, to help better understand why an LLC/S corporation, is the best form of

* Some people who work for businesses or other types of organizations have the capacity to bind the organizations to contracts.

A Limited Liability Partnership Alternative Security Provision transmittal form must be filed as well. Once these documents are approved, the Secretary of State will return stamped copies of the forms as well as a Certificate of Registration to the partnership.

The brewery will start out with 6 employees which will be the current group of partners creating this plan. The organizational chart in the following section will give a layout of the overall business breakdown. As the business grows and the need arises, we will hire and train future employees to be brewers and will explain and show hands on how to reproduce the product line. Once the product line has been established we will then proceed to hire people to handle distribution of the product to local vendors. This will also lead to the eventual hiring of people to become tour guides for future brewery tours. Our employee base will expand as we our company expands. We will have managers that will be in charge of maintenance, managers in charge of production, managers in charge of bottling, and managers in charge of distribution. These are the major aspects of our daily operation. Maintenance managers will have a group of 5 people and each person will be in

In this scenario, once again I selected the wrong person. I selected the woman because she was older, and being more mature led me to believe that she had more work experience than the two males that were pictured. In my opinion, both males appeared to be too young to have so much work experience; especially having worked as an account executive for a national mortgage lender. They both appeared to be high school or college students.

Bell Microproducts, Inc. mailed to McGurn an offer of employment that stated that if McGurn were terminated without cause during the first 12 months of employment, he would receive a severance package of $120,000. McGurn crossed out 12 and replaced it with 24, and signed the contract. Bell did not acknowledge the change that had been made to the contract and hired the applicant. McGurn was terminated without cause 13 months later.

1. Complete the table below with descriptions of different methods of communication. You should include two verbal, two non-verbal and two written methods of communication.

It is very vital to implement rules, regulations and guidelines that are necessary so that individuals and organizations remain in compliance with the law. These set of polices help protect an organization from possible legal action or being penalized. It also, allows everyone to understand what is expected of them within any nature of business. Without guidelines and policies set forth by the government more than likely it would result in a breakdown in social structure, and it would result in unjust circumstances. Over the years the United States government has set many business regulations in place to safeguard consumer’s rights, protect society and hold corporations responsible for the power they have in our

Legal Structure of a Business Orgnanisation Business organisations are the different legal forms a business can adopt. The key distinction is that some businesses provide limited liability for any debts the business incurs. Others have unlimited liability - which obviously doesn't [IMAGE]Unincorporated Incorporated Up Arrow Callout: Sole-trader Up Arrow Callout: Partnership Up Arrow Callout: Private Limited Company (ltd)

“In Uniform Commercial Code (UCC) minor changes do not have any impact and the original contract does not get canceled. The quantity is the main focus of the term in UCC. Offers made by a firm are irrevocable if the deal is made in writing in UCC” (UCC vs Common Law, 2014). “Uniform Commercial Code is a statutory law for certain types of commercial transactions, including sales of goods, which has been adopted by all 50 states. Many of its rules are similar to Common Law, but it

Converting a hobby into a business is something that many people look forward to accomplishing. This paper will discuss the type of business which I would like to pursue as an entrepreneur. In this business I will look to make sure that all activities that will be performed will earn profits as well as being in compliance with all laws and regulations. By abiding by the regulations and laws it will prevent any issues that may cause a problem. This paper will discuss the business and the important things that are needed to be successful.