BUSI 2001 Walden University B

If you were asked to recommend a legal business
structure for someone’s business, do you feel equipped with the
knowledge to provide sound advice? The person asking you would want to
know the benefits and drawbacks of each structure and be able to
determine which one fits the need. They also would want to understand
any legal considerations involved and the steps it would take to create
the structure.

XYZ LogoFor
this Assignment, you will have a chance to provide that recommendation
by assuming the role of a junior legal research team member at XYZ
Corporation. The Company has been asked to review several business
scenarios for clients regarding possible business structures. You have
been given the task of gathering some introductory information on the
topic, as well as producing a report that reviews the clients’ options
for legal structures for their new companies.

To prepare for this Assignment:

  • Review the Learning Resources and take into consideration how
    different business owners will have a variety of wants and needs when
    deciding upon a legal business structure. Try to anticipate those needs.
  • Refer to the Academic Writing Expectations for 2000/3000-Level Courses as you compose your Assignment.

Submit your report containing
recommendations for appropriate legal structures for the five clients’
business types. For each scenario, address the following in your report:

  • Choose which type of business structure would be most appropriate for the situation.
  • List pros and cons of the recommended structure.
  • List the steps required for creating this type of business structure.
  • Include legal considerations and examples of related legal issues,
    including personal liability and taxes, as well as profit distribution,
    if applicable.
Scenario 1

Karen and Alex have worked together to create a
concept to form a website development company. To do this, they have
asked three associates to invest their own money in the business in
return for receiving a percentage of the profits. The three investors
will not need to be involved in any of the day-to-day management or
conducting of business in the proposed company. (225–300 words, 3–4
paragraphs)

Scenario 2

A few years ago, Anika started a skateboard
company called Wheels Up and she has run it as a sole proprietorship.
Wheels Up has operated successfully, creating a sizable workforce and
management team; however, a market opportunity has surfaced that could
create significant and sustainable growth. Anika wants to change the
structure of her business. She is in negotiations with venture
capitalists who are interested in investing in the company. She also has
two employees, Sandra and Geoff, who are so integral to the company
that she wishes they had more of a stake in it. (225–300 words, 3–4
paragraphs)

Scenario 3

George would like to start a landscaping
business and call it Landscaping by George. The business would require
the use of heavy equipment, a large truck with a hydraulic lift, and an
open trailer. Because of that, he is fearful of causing an accident and
getting sued. He is mainly concerned about reducing the risk of losing
his house and other personal assets because of something that happens
with the business. (225–300 words, 3–4 paragraphs)

Scenario 4

Jose has started a website where he sells
products that he designs and produces himself, such as T-shirts, coffee
mugs, bumper stickers, and other similar items. He wants to create a
business based off this website and is hoping to do so in the least
complicated way possible. (225–300 words, 3–4 paragraphs)

Scenario 5

Deborah owns a bakery that is best known for her
specialty cupcakes. Her most important ingredients are the gourmet
chocolates Theo produces in his candy shop. They would like to form a
business structure together that helps them to market both of their
brands and make consumers aware of the importance of the relationship of
their products. (225–300 words, 3–4 paragraphs)

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