LIT Task 2 LIT Task 2 The Family and Medical Leave Act (FMLA) of 1993 is a federal law to provide employees time off of work for due to medical and family reasons. Reasons include: the birth or adoption of a child, an employee’s grave medical condition which prevents the employee from doing his/her job, or attending to the serious medical condition of a child, parent, or spouse. This leave is unpaid and requires employees to have been employed with the employer for at least one year. The
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Environments of Business Johnathon L. Olive American InterContinental University Online Abstract Johnathon Olive, the writer—was given a scenario to write about using the different types of businesses. He made a management decision regarding which business type he believed would be the most likely to succeed and why based on the scenario. He also listed advantages and disadvantages of each business type regarding the scenario. Finally, he
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Forms of Business Law/531 Legal Forms of Business There are multiple legal forms of business including sole proprietorships, partnerships, limited liability partnerships, limited liability companies, S-corporations, franchises, and corporate forms. Entrepreneurs must assess concerns of liability, risks, and assets when considering these optional forms of business because each form has its own advantages and disadvantages. The following paragraphs illustrate specific scenarios where
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Legal Forms of Business Michelle Impellizzeri LAW/531 January 21, 2012 J. Thomas Witek, JD Legal Forms of Business To start a business, choosing the best form of operation will depend upon the type of business the owner wants to undertake. When selecting a form of business the owner should ensure that the form best meets their needs. “The selection depends on many factors, including the ease and cost of formation, the capital requirements of the business, the flexibility of management decisions
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deciding to go into business for oneself, it takes a great deal of time, thought, and risk. Becoming an entrepreneur is not a simple task. One of the most important decisions an entrepreneur must make is deciding what type of business he or she wants to open. Throughout this paper, I will discuss seven business types; sole proprietorship, partnership, limited liability partnership, Limited Liability Company, S corporation, franchise, and corporation, and will give a scenario for each. In addition
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Forms of Business When beginning a business venture, the first and most important decision made by the owner is to review the forms of business options and determine which one would be suitable for the organization of their company. There are seven forms of business that will be discussed and different scenarios that will be developed in which each of these forms of business would be the preferred form. The seven forms of business are sole proprietorship, partnership, limited liability partnership
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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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are equal partners in the business. Akiva and Tara are both have the same education and experiential requirements to start the birth clinic. Akiva’s and Tara’s name will be on the loan. Both are brining the same things to the table like education, experience, money and desire to own their own business. Akiva and Tara are entering into a general partnership with each other. They will have equal control and voting right with the business. The money earned from the business will be represented on their
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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 this scenario is the individual
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Forms of Business There are many forms of businesses, from the small business to the corporate business that are found all over the world. Each has its own unique properties, as well as some areas that are similar to all. In this paper, I will give scenarios of the following legal forms of business: sole proprietorship, limited liability partnership, Limited Liability Company, S corporation, franchise and corporate form. This paper will also discuss the justification as to why this business form
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