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Business Entities, Laws, and Regulations - Research Paper Example

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❶Laws, Regulations, and Risks The first thing Akiva and Tara need to do is look at the state regulations as each state has different regulations.

Business Entities, Laws, and Regulations Paper Essay Sample

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They do not have much money, but they do have Miriam, a wealthy investor who does not have time to participate in the business, but wants to provide capital to start the business in return for a percentage ownership. For this business scenario the best business entity is a limited partnership or special partnership. There are two types of partners in a limited partnership: General partners invest capital, manage the business, and are personally liable for partnership debts.

Limited partners invest capital but do not help with the management aspect and are not personally liable for debts beyond their capital contribution. Lou and Jose will be able to contribute their money and be responsible for managing the business. Miriam will contribute her money and that is all that is required of her. This document will state the terms and conditions regarding the operations, termination, and dissolution of the partnership.

The limited partnership agreement may also describe how profits and losses broken down between the general and limited partners Cheeseman, p. General partners have unlimited liability for the debts and obligations while limited partners are liable only for the debts and obligations up to their capital contributions, and they are not personally liable for the debts and obligations of the limited partnership.

The business itself pays no taxes on the income Spaulding, Laws, Regulations, and Risks. Some of the laws and regulations the partners need to consider are the need for an operating license, health permit, and liquor license. If the business tries to operate without these licenses or permits they take the risk of being shut down. The partners also have to prepare for every day risks such as having a safe environment. If there are TVs hanging they should be installed by professionals and up to code to avoid the risk of TVs falling on customers or employees.

The next business scenario that will be examined is two individuals that want to start a business in the medical field. Akiva and Tara have just completed all educational and experiential requirements to be licensed as obstetricians. They want to open a birth clinic together. They will take out a large loan to finance start-up costs. In an LLP, all partners are limited partners who can only lose their own capital if the business fails.

No one is personally liable for the debts and obligations of the partnership over his or her contributions Cheeseman, p. The first thing Akiva and Tara need to do is look at the state regulations as each state has different regulations. The state regulations will list things like definitions, staffing, facility, fire and building codes, and the services that are allowed.

A perfect example is that no states allow cesarean sections to be performed in birthing centers. These regulations also provide information about services that are required, policies, procedures, organization, quality assurance, and evaluation American Association of Birth Centers, One of the major risks that Akiva and Tara will face is the possibility of malpractice.

They should already be covered with personal liability but should also consider taking out malpractice insurance for proper coverage. Another risk they encounter with opening this business is the possibility of the business failing. They are funding their business by taking out a large loan. This loan is required to be paid back whether the business is successful or not. The last scenario is a construction scenario that will look at the employment laws and regulations that need to be taken in to consideration when hiring employees.

She has advertised a position as a jackhammer operator. The following people apply for the position: Michelle, 35, who appears to be pregnant, is a high school graduate, and was formerly employed as a jackhammer operator; Eric, 55, who is experienced with a jackhammer, but has no high school diploma; Felipe, who is 38, speaks no English, has no high school diploma, but is experienced with a jackhammer; and Nick, 23, a college graduate who is epileptic, and has no experience with a jackhammer.

These laws were passed to guarantee equal employment opportunity to all employees and job applicants. They have been broadly interpreted by the federal courts, particularly the U. Supreme Court Cheeseman, p. Title VII of the Civil Rights Act of was put in to place to eliminate discrimination by race, color, national origin, sex, and religion. Mei-Lin could decide to not hire anyone who is younger than 40 years old and that would not be discrimination according to Age Discrimination in Employment Act.

This act enables employers to maintain a hiring policy of hiring only workers 40 years of age or older. Mei-Lin would be able to turn down Eric and Felipe because they do not have a high school diploma.

The advertisement did not say that jackhammer experience was required so she cannot turn down applicants because they do not have experience. Mei-Lin needs to be careful when considering applicants and how they are turned down. Before starting a business it is important to consider all business entities and the advantages and disadvantages of each. In all business scenarios there are rules, regulations, and risks that need to be considered before starting the business and also while running the business.

This paper explored two different types of partnerships and some advantages as to why they should be partnerships. The last scenario explored the different risks with hiring employees and how to avoid discrimination cases.

These are all important factors to consider if there is a business just starting or a business that has been up and running for 20 years. There are two types of partners in a limited partnership: General partners invest capital, manage the business, and are personally liable for partnership debts.

Limited partners invest capital but do not help with the management aspect and are not personally liable for debts beyond their capital contribution. Lou and Jose will be able to contribute their money and be responsible for managing the business. Miriam will contribute her money and that is all that is required of her. Often in a limited partnership, there is a limited partnership agreement that states the rights and duties of both partners.

This document will state the terms and conditions regarding the operations, termination, and dissolution of the partnership. The limited partnership agreement may also describe how profits and losses broken. Mei-Lin is the hiring manager for Surebuild, Inc. She has advertised a position as a jackhammer operator. The following people apply for the position: Michelle, 35, who appears to be pregnant, is a high school graduate, and was formerly employed as a jackhammer operator; Eric, 55, who is experienced with a jackhammer, but has no high school diploma; Felipe, who is 38, speaks no English, has no high school diploma, but is experienced with a jackhammer; and Nick, 23, a college graduate who is epileptic, and has no experience with a jackhammer.

Starting in the s, Congress enforcing a set of federal laws that eliminated employment discrimination. These laws were passed to guarantee equal employment opportunity to all employees and job applicants. They have been broadly interpreted by the federal courts, particularly the U. Supreme Court Cheeseman, p. Title VII of the Civil Rights Act of was put in to place to eliminate discrimination by race, color, national origin, sex, and religion. Mei-Lin could decide to not hire anyone who is younger than 40 years old and that would not be discrimination according to Age Discrimination in Employment Act.

This act enables employers to maintain a hiring policy of hiring only workers 40 years of age or older. Mei-Lin would be able to turn down Eric and Felipe because they do not have a high school diploma.


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BUSINESS ENTITIES, LAWS, AND REGULATIONS PAPER 1 Business Entities, Laws, and Regulations Paper BUS/ University of Phoenix BUSINESS ENTITIES, LAWS, AND REGULATIONS PAPER 2 Business Entities, Laws, and Regulations Paper Introduction In order for companies to have a successful business, they should.

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Business Entities, Laws, and Regulations Paper By: Edmond Akopyan BUS/ December 15, Instructor: Mark Oertel Starting a business requires some research on licensing, state laws and regulations and finally getting things started.

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Business Entities, Laws, and Regulations Paper Essay Sample. This paper will examine two business scenarios and determine which business entity is the best choice for each business after taking in to consideration control, taxation, and liability issues. The following paper includes the consideration of control, taxation, and liability issues for two hypothetical businesses as well as legal, regulatory, and risk issues each of the two businesses may face. Also included in this paper is a hypothetical hiring manager scenario in which the hiring.

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Business Entities, Laws, and Regulations The purpose of the paper is to review the restaurant/bar and extermination businesses and discuss the entity that best suits the business. We will write a custom essay sample on Business Entities, Laws, and Regulations Paper specifically for you for only $ $/page.