Social, and Economic Environment of Business Latasha Y. McMaster American Intercontinental University Abstract There are three types of Business: Sole Proprietorship, Partnership, and Corporation. In my opinion based on the scenario for this paper a sole proprietorship is the best option for starting a business. The inventor does not have to funding to back up the invention but thinks that the invention will be successful. The best way to start this business is to start small and if the product
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Business Organization The first thing to understand when starting a business is how the structure of the company will be set up. There are several types of business entities and each entity has its own particular benefits and list of drawbacks. In this paper I will enumerate the following types of business structures: sole proprietorship, partnership, corporation and limited liability corporation, how they differ from each other, their advantages and disadvantages. Choosing the wrong structure
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Economic Environments of Business Robert L. Spradley American Intercontinental University Online Abstract This paper is based on a business scenario. In this scenario an inventor, named Robert, who enjoys working around his home, cleaning, cooking, and doing minor home repairs has an idea for a new kind of home appliance that would meet the daily needs of many consumers. Wanting to start a business, he does some research on three legal forms of ownership for a small business. He describes the
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Corporate Law How to establish the right business organization for a startup company The Legal & Ethical Environment of Business BUS 252-003 Winston Spencer Waters Submitted 11/21/2013 By Maria Andersen The intention with this paper is to examine and explore the three main types of business structures; sole proprietor, corporation, and partnership. During this paper, we will take a deeper look into each of these structures, discuss the advantages and disadvantages, and finally determine
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Subdomain 310.1- Business Law A1a. Sole Proprietorship- One person owns the business. Unlimited Liability -Under sole proprietorship, only one person owns the business and there is no difference between the business and the owner. The owner takes full liability of everything that happens when operating the business. If a customer slips and falls, the business owner will be liable for 100% of any liability incurred. The personal and business assets are intertwined so if the business is sued, the
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Nature of Agency In the Nature of Agency video several legal issue are presented. The issues revolve around a contract and the legal authority to sign into that contract acting as agent for the owners of the company evolved. The purpose for this paper is to analyze the different forms of agency covered in the video and determine if the employees had the legal authority to sign the company into a binding contract. Hal and Karen are partners that own Quick Takes Video. They are being sued by Non
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states that the agent is not authorized to sign any documents on the company’s behalf. This paper aims to discuss if the contract formation was achieved and if a third party agent was authorized to sign a contract on behalf of the company. Second, the paper discusses the policies and procedures, which, if pre-defined by Quick Takes Video, would have avoided such a situation from arising. Third, the paper discusses another option, besides arbitration, which the companies can use to work through this
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Business Structures LaShondra Dyer BUS311: Business Law I Instructor: Peter McCann April 13, 2016 Selecting a business structure comes with a number of variables. Are you going into business alone? If so, how will you fund it and run it? Will you join forces with others to build a business? If so, what agreements need to be made, for the business to run effectively and efficiently? I have spent over a decade in the nightclub industry in various positions. I started as a waitress
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Legal, Social, and Economic Environments of Business Jessica L. Kuhn American Intercontinental University Abstract An inventors has an invention in which he believes will be successful, but he does not have the funding to get it to the market on his own. The three types of business: proprietorship, partnership, and corporation, their advantages and disadvantages are covered in detail in this paper, as well as a brief definition of each. Brief Interpretation of the Scenario The problem in
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Acme Fireworks Joyce Mathews BUS 111: Business Law Prof: Maria Fiorentino January 19, 2015 Acme Fireworks Acme Fireworks is a company that sells fireworks but our main attractions are ground firework displays and large aerial displays. We have come a long way from working in the owner’s garage to a full facility with 15 employees. My job is to manage the facility and to make sure the owner’s expectations are met. Recently the owner has advised me that he received inquiries from other
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