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Legal concepts business law
Legal concepts business law
Structure/design of organizations
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Legal Underpinnings of Business Law
Brandy Noell
BUS 670 Legal Environment
Instructor: Marla Muse
January 8, 2018
Legal Underpinning of Business Law Starting up an owning a business comes with a lot of benefits, decisions and planning. A benefit is being able to provide products and services to consumers as well as offering jobs. One of the most important decisions to be made is the type of business entity and the procedures of the company. One of the biggest things that a business owner needs to be prepared for is the legal aspect of running a business. This paper will include a matrix of each business, discuss the breach of contract lawsuit, and compare and contrast the personal liability exposure as well as look at the best organizational form for the business.
Business Matrix
Name of Business Type of Business Liability Exposure
Tinker’s Home Security Service Sole Proprietorship Personally Liable
Tinker
…show more content…
Like everything in life there are pros and cons. As a business owner you can help provide products, services, and jobs but it can also have its downfalls like causing personal liability exposure. The matric shows the types of forms that can be chosen, and a business can help reduce those liabilities by choosing the best organization form.
References
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Seaquist, G. (2012). Business law for managers. San Diego, CA: Bridgepoint Education,
Inc. Retrieved from
Under which theory or theories of product liability can Kolchek sue to recover for Litisha’s injuries? Could Kolchek sue Porter or Great Lakes?
1.) Post, James E. "Managing the Extended Enterprise: The New Stakeholder View." California Management Review. Vol. 45. No.1 Fall 2002.
Harvard Business School case 274-116. Cooper Industries, Inc. Retrieved on August 31, 2008, from University of Phoenix, Resource, FIN/545 web site: https://mycampus.phoenix.edu/secure/resource/resource
Retrieved from http://www.entrepreneur.com/startingabusiness/. startupbasics/business structure/article78032.html, Retrieved May 22, 2011.
Song, P. H., McAlearney, A., Robbins, J., & McCullough, J. S. (2011). Exploring the Business
Brink says that then we can clear Mill of the charge of inconsistency about legal moralism. Since, Mill seems pretty consistent with his rejection towards legal moralism. This seems to bring up the debate between Mill and Stephen. Stephen is the author of Liberty, Equality, and Fraternity: in which he talks about his defense of the uses of criminal law to promote virtue and curb vice. Mill is the one who provokes Stephen’s criticism, rendering that Mill is an anti-moralist. A century later, Lord Devlin revived Mill and Stephen’s arguments in which Devlin’s defense of legal regulation of homosexuality, prostitution, and pornography, and liberal criticisms. It can be tempting to reject legal moralism of Stephen and Devlin because of Mill’s anti-moralism, but temptation can be resisted.
In contrary to its contemporary antagonist philosophical schools, who advocate the practices of humanness and the rightness and set ideal of the past, the Legalists, in their complete rejection of the traditional ethics, embraces the efficacy of political power and uphold a society of laws and punishments. As the old feudal states decayed and the smoke of endemic warfare suffused, the need for a more rational government that can afford greater centralized power so as to strengthen a state against its rival increased substantially among the Warring States. Such a rising urge necessitated the emergence of the Legalists and further predetermined the Legalists’ inherent nature – realistic, totalitarian and problem-solving – which, with the realization of its significance and duty in the stream of history, finds its hegemonic character as well.
Task One E1 They type of businesses 1. Private and Public enterprise 2. Limited Liability 3. Franchising I will define each type of business with some advantages and disadvantages. For The Coca-Cola Company ... ...
There is an enormous prospect for the Pkolino Company to start a business. The current task has adequate resources and a great plan to keep it operational. Nevertheless, dangers that might plunge Pkolino Company into financial disaster are also present. This is due to the fact that there are always a couple of things that tend to advance in an unanticipated direction even in a well- planned plan. For instance, P’kolino Company’s financial statements do not have provisions for the worst, average, and best scenarios.
Shafer, S. M., Smith, H. J., & Linder, J. C. (2005). The power of business models. Business
When an individual decides to venture out on their own and become an entrepreneur they are taking a huge risk, one of the tools that can make the difference between being successful or failing is the Business Model Canvas (BMC). Osterwalder invented the BMC because he believed that a company’s first business plan always failed the minute it reached the customers, leaving the owners discouraged and deflated and feeling that they had wasted time, energy and money; so he wanted to create a more flexible business plan that owners can edit and make the changes needed to reach the customers needs "One Tool Startups Need to Brainstorm, Test and Win | First Round Review," n.d.). The canvas consists of nine elements or building blocks that create a visual template spelling out the business’s value proposition, infrastructure, customers and the finances (White, 2012). Breaking down the key elements that are vital to taking customers needs, wants or problems into a fruitful company
Focusing on the benefits to the business organisation, this is a very important concept for them to gain their maximum potential profits and the success of the business as a whole.
University of Phoenix.(Ed.). (2005). Foundations of Financial Management, 11e [University Phoenix Custom Edition]. The McGraw-Hill Companies.
Substantive and Procedural Law – Substantive laws are the social rights and duties of people, and procedural law are guidelines through which government bodies or courts deal with breaches in substantive law. E.g. substantive law would state that hitting someone with a car and driving off is a crime, while procedural law would define how the courts could try and sentence in the case.
Developing a thorough financial plan is a process that comprises a comprehensive analysis of a particular individual’s financial position and their long-term commitment to apply and observe the set financial plan through one’s life. The plan includes but not limited to, how an individual spends, saves monies and invests his or her financial assets. It encompasses knowing how to budget, manage cash and taxes, borrowing of funds, the use of credit cards, minimizing risk, investing and planning for retirement. Such a plan also requires a vigilant thought process for the future so he/she can tweak their financial plans as needed due to changes in lifestyle and economy.