The Case Of The Prospective Decorative Artwork Business Of Tom, Dick, And Harry

1733 Words7 Pages
In forming a business, it is essential to ensure that the entity is legally compliant with the governing regulations in the territory of operation. In addition, it is imperative to take the necessary actions to protect the entity from any potential risks and avoidable financial expenditures associated with its business activities. To this end, in the case of the prospective decorative artwork business of Tom, Dick, and Harry – they need to be properly enlightened as to the pertinent components required for business affairs. In this regard, for this paper – the author endeavours to provide legal advice to the prospective business associates concerning the possible business type along with categories of investors connected to the same. After, information will be furnished as to copyright protection for the decorative art pieces. Next, the writer presents information pertaining to important components that ought to be included in the terms of agreement of staff. The guidelines applicable to apprenticeship, will be covered since the business intends to utilise an apprentice. Following the preceding, the writer examines the options available to house the business. Lastly, advice will be given to Tom, Dick, and Harry as to the potential insurance requirements for the business. Business Type Options For this type of business, Tom and his two colleagues can either decide to form a partnership or to incorporate their business. Partnership In the case of a partnership, based on

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