Business Law Wk 5

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Business Entities, Laws, and Regulations

University of Phoenix

Business Law

BUS 415

Abstract

The paper will be evaluating the scenarios of a restaurant and bar with a wealthy 3rd party investor, an extermination company with a wealthy investor and owner, as well as a construction company that is hiring for a specific position in the company For each of the three scenarios, the business entity that represents the best choice for each one will be identified. Laws and regulations that each type of business must consider will also be identified. Risks that each of the businesses must protect themselves against will also be identified. For the construction company, employment laws and regulations that they will have to comply with will be identified and discussed.

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Business Entities, Laws, and Regulations

(introductory paragraph??)

Restaurant/Bar Scenario

According to the scenario( provide a reference??), Lou and Jose are planning to open sports bar and restaurant. Miriam is a wealthy investor who is agreed to provide capital to them because they have not enough money. He will get a sufficient percentage of profit as ownership.

Business Entity, Control, Taxation, and Liability

The best suitable entity for this business organization, a sports restaurant and bar, is the partnership firm. The reason is because there are three owners who want to start this business in return for a percentage of ownership. Miriam is the investor and Lou and Jose will take care of business operations of this organization (The General Partnership, 2010). So, the firm would be known as a partnership firm.

In a partnership business firm, the control is taken by all the partners. All the decisions are based on the mutual understanding and conformance of all the partners. The partnership between Lou and Jose is general but Miriam would not control any of the business activities because he is investing money to earn profit only...