Business Entities, Laws, and Regulations Free Essay, Term Paper and Book Report
Forming a business entity requires an adequate understanding of laws and regulations and must take many issues into consideration. The following two scenarios involving partnerships reflects on other important issues, such as taking control, taxation and liability, that partners should discuss before starting their business so they can identify their risks and take action to protect their investments. The third scenario relates discrimination laws and regulations under Title VII that business must comply with before making hiring decisions.
Restaurant/Bar
Restauranteurs Lou and Jose plan to open a sports bar styled in champagne taste on their beer budget. Luckily, Miriam is interested in providing the capital for this venture in exchange for a percentage of ownership. The best choice for this business entity is a limited partnership, making Lou and Jose general partners who participate in management and Miriam a limited partner who invests in the company. The Revised Uniform Limited Partnership Act (RULPA) stipulates guidelines for the formation of limited partn......
Word Count: 746
Page Count: 2.9 (250 words a page / double spaced)
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