Analysis Of The Tinker And Tailor 's Home Security

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There has been a breach of contract for the Tinker’s Home Security Service and the Tinker & Tailor’s Home Security Service.The matrix chart, I have included will help will compare and contrast the personal liability exposure as an owner In each of these business entities, such as, a sole proprietorship, general and limited partnership, corporation and limited liability corporation, I will analyze how I might limit my liability as a business owner.. I will also examine the business I plan to own one day. I will look at the best business organizational form for my company, as well as looking at the personal liability exposure, management, taxation and ease of formation. Learning the underpinning or foundation of business law will help us as owners to learn to avoid legal action as a result of unforeseen mishap. Because the business is has inquired a lawsuit for breach of contract, I have includeda matrix chart to compare and contrast the personal liability as an owner. We will be able to recognize the lawsuits as a result of the expose of the company. Name of Business Type of Business Liable for Debts Tinker’s Home Security Service sole proprietorship Sole proprietor has unlimited liability. Tinker & Tailor’s Home Security Service general partnership Partners have unlimited liability Tinker & Tailor’s Home Security Service limited partnership (LP) At least one general partner has unlimited liability Tinker & Tailor’s Home Security Service , Inc corporation Shareholders aren’t typically responsible for the debts of the corporation Tinker & Tailor’s Home Security Service , LLC limited liability company LLC Members aren’t typically liable for the debts of the LLC (Compare business structures , 2015) The Tinker’s Home Secur... ... middle of paper ... ...o this whole process is knowledge. REFERENCES Compare business structures . (2015). Retrieved May 18, 2015, from Business Licensing Service: http://bls.dor.wa.gov/comparestructures.aspx Duhaime, L. (n.d.). Breach of Contract Definition. Retrieved May 18, 2015, from Duhaime 's Law Dictionary: http://www.duhaime.org/LegalDictionary/B/BreachofContract.aspx How to Form an LLC. (2015). Retrieved May 19, 2015, from CompaniesIncorporated: http://www.companiesinc.com/llc/howto.asp Lenckus, D. (2011, October 2). Most event planners lack liability coverage, despite exposures. Retrieved May 18, 2011, from Business Insurance: http://www.businessinsurance.com/article/20111002/NEWS05/310029996 Rath, T. (n.d.). Consider the Tax Implications of an LLC Before You Create. Retrieved May 2015, from about money: http://sbinformation.about.com/od/ownership1/a/llctax.htm

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