Saturday, June 8, 2019

Business Entities, Laws, and Regulations Paper Essay Example for Free

Business Entities, Laws, and Regulations Paper EssayThere be different scenarios with three different forms of entities that require taking control, taxation, and possible liability issues into account. These considerations lead not only serve to ensure compliance is met and also so that separately establishment is protected. In the first scenario Lou and Jose purpose to open a restaurant/sports bar, the issue is that they throw not accumulated of the money, simply Miriam, a prosperous investor is testamenting to contribute the funds although she doesnt take away time to be physic onlyy involved in the business. In the second scenario Frank happens to be a wealthy investor who has a strategy to open up a drawing string of mountains of exterminating businesses without the United States. The third scenario is Akiva and Tara indigences to open a licensed obstetrician office, they will take out a loan for startup costs. The fourth and concluding scenario a construction comp whatever is hiring and has specific job requirements that must be met in order to be selected as the final candidate. Restaurant/Bar Lou and Jose plan to open a sport bar/restaurant, a manoeuver where customer will be able to socialize while watching sports on large-screen TVs.The major(ip) issue is that Lou and Jose do not have the funds to put these plans to action. But they do know of a wealthy investor Miriam, who is willing to invest her wealth in making the sport bar/restaurant happen. Miriam doesnt have much time to be involved in the day to day operation but is willing provide capital in return for a percentage of possessership. It is at Lous and Joses best interest to have their business a Limited Partnership business. A control partnership is the best option for Lou and Jose since they have one partner who will invest capital but will not participate in management (Cheeseman, 2010).In order to do so Lou and Jose must file for a certificate of Limited Partnership t hrough the secretary of put up and must comply with the statutory requirement of the RULPA (Revised Uniform Limited Partnership Act) (Cheeseman, 2010). Once the certificate of limited partnership is filed a limited partnership is formed. Each partner will be accountable for filing his or her own tax information and they will also be responsible for the reporting of the family tax information as a whole. Extermination business scenarioFrank is a prosperous investor who would like to open a chain of exterminating businesses throughout the United States. Since Frank is interested in opening several establishments throughout the United States, the best option for him would be to have his business posit up as a franchise business. In his particular case a chain-style franchise would be more beneficial as this would allow each establishment to make and sell its services to the public in the different parts of the country. Frank as the franchisor would be responsible for his own contra cts and torts and the franchisee is liable for his own contracts and torts.Each prospect franchisee would have to apply with franchisor for a franchise. If approved the parties would enter a franchise agreement and the franchisor and franchisee would be set up as separate entities. Therefore each operation owner is responsible for filing his or her tax documents and ensuring that they are in compliance. Professional Practice Akiva and Tara have completed all the requirements needed for them to open up their own obstetricians office. Since Akiva and Tara are just newly out of the medical field, I think that they may want to consider having an LLC. A limited liability company (LLC) is an unincorporated business entity that combines the most favorable attributes of general partnerships, limited partnerships, and corporations.An LLC is taxed as a partnership unless it chooses to be taxed as a corporation, the owners can manage the business, and the owners have limited liability. Many en trepreneurs who begin new businesses choose the LLC as their legal form for conducting business (Cheeseman, 2010. P. 267). An LLC is a separate legal unit (or legal individual) separate from its associates.LLCs can sue or be sued by people who have entered into a legal contract. structure Scenario In this scenario Surebuild, Inc is a new construction company and Mei-Lin is the hiring manager and is found in the middle of a dilemma of which candidates to interview as she has specifically state in the description that a high school parchment is required from that of the in(predicate) candidate. The first thing Surebuild, Inc needs to do is to hire a man Resource Manager to ensure that Surebuild is in compliance with the federal, state, and local government.Regarding the applicants that have applied Surebuild needs to avoid making any decision that may bollix difference of sex, age, origin of nationality. One of the applicants is Michelle, who is 35 years of age who shows to be pregnant and happens to be a high school graduate, and was once employed as a jackhammer operator. In this case Surebuild, Inc need to make sure there is no discrimination against Michelle since she is a female who happens to be pregnant or the company will be liable and probably sued.Especially because Michelle has met the requirement listed as a qualification for a successful candidate. Title VII of the gracious Rights Act of 1964 was enacted to eliminate job discrimination based on race, color, religion, sex, and national origin. Another applicant is Eric who is 55 years of age who has experience with a jackhammer without a high school diploma. In this case if the company is specifically looking for experience on the jackhammer they need to focus on that and make their decision based on the same and not on Erics age because then they would be committing discrimination against age.The defense the company can have is that Eric does not have a high school diploma a specific require ment that must be met. Felipe is a 38 year ancient applicant who does not speak any English and also has no high school diploma. The requirement for this position also states that the candidate is required to have a high school diploma, something Felipe does not have. The fact that Felipe does not speak English can be seen as a discrimination of origin of nationality but the company has proof that the applicant did not meet the requirements as he does not have a high school diploma.The last applicant is snick a 23 year old college graduate who happens to be epileptic, and no experience with a jackhammer. Under the Title I of the ADA states that employment discrimination against individuals who are qualified with disabilities in respect to job application procedures, hiring compensation, training, promotion and termination is prohibited. Cheeseman, 2010. In this case the company should interview Nick as they would any possible candidate and make their determination based on their j ob requirements and the positions requirements.In this case he has more than a high school diploma but lacks the experience, he can be given training and possibly learn how to use a jackhammer but if the job cannot accommodate his epileptic condition and or will he be at a higher risk of injury because of the type of job then the company. Every companys top priority for its employees is to ensure the safety of its employees and if Nicks elliptical condition can cause severe injury to him or those nearly him while working on the jackhammer then the company needs to make a decision of not hiring Nick.Should they hire him with his condition and an accident takes place that causes major injury to Nick or another employee the company can be liable and required to pay the expenses, medical bills, and penal damages. The company can possibly even be sued. Everyone business has a responsibility of ensuring that not only are they in compliance with the secretary of state when it comes to th e proper registration of their business but they also have a huge responsibility to society, its employees, and to themselves.It is important that every business understand that there are federal, state, and local regulations they must abide by in order to avoid liability and possibly law suits. It is also important that they abide by them in order to give fair and proper treatment to its personnel as those are the individuals that drive the company and most of the times make it a successful business. This not only is beneficial to the company but to the employees and to our world economy.

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