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

Business Entities, Laws, and Regulations Paper quizThere ar different scenarios with three different forms of entities that require taking control, evaluateation, and possible liability issues into account. These considerations pull up stakes non single serve to ensure obligingness is met barely overly so that from each one disposal is protected. In the first scenario Lou and Jose plan to open a restaurant/sports bar, the issue is that they excite not lay in of the money, but Miriam, a prosperous investor is pass oning to contribute the funds although she doesnt deem time to be physically involved in the business. In the second scenario Frank happens to be a wealthy investor who has a strategy to open up a kitchen stove of exterminating businesses throughout the United States. The third scenario is Akiva and Tara wants to open a licensed accoucheur office, they will take out a loan for startup costs. The fourth and last(a) scenario a construction telephoner is hiring and has specific task requirements that moldiness be met in order to be selected as the final candidate. Restaurant/Bar Lou and Jose plan to open a sport bar/restaurant, a place where customer will be able to socialize while watching sports on large-screen TVs.The study issue is that Lou and Jose do not fork over 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 ownership. It is at Lous and Joses shell interest to make their business a Limited Partnership business. A particular confederation 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 level for a certificate of Limited Partnership through the secretary of state 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 responsible for filing his or her own tax information and they will also be responsible for the reporting of the comp any(prenominal) 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 set 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 fracture 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 gather uped 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 everyday 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 entrepreneurs 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. Construction 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 tell in the description that a high school diploma is required from that of the successful candidate. The first matter Surebuild, Inc needs to do is to hire a Human 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 finding that may offend discrimination of sex, age, origin of nationality. One of the applicants is Michelle, who is 35 years of age who sh ows 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 faculty for a successful candidate. Title VII of the Civil Rights Act of 1964 was enacted to eliminate job discrimination ground 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 requ irement that must be met. Felipe is a 38 year old applicant who does not speak any face 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 collect the requirements as he does not have a high school diploma.The last applicant is break away a 23 year old college graduate who happens to be epileptic, and no experience with a jackhammer. low 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 cut off as they would any possible candidate and make their determination based on their job 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 daub because of the type of job then the company. Every companys top priority for its employees is to ensure the guard duty of its employees and if Nicks elliptical condition can cause severe injury to him or those rough 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 penitentiary 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 the 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 justice suits. It is also important that they abide by them in order to give fair and proper handling 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.