Pros And Cons Of Legal Underpinning Of Business Law

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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
Hopson, J. F., & Hopson, P. D. (2014). Making the Right Choice of Business Entity. CPA
Journal, 84(10), 42-47. Retrieved from https://ashford.content.edu
Lockhart, K. (2011). Structuring your business. The Morning Star Retrieved from https://search.proquest.com/docview/884473256?accountid=32521 Pryor, C. R., Yan, Z., & Lynch, N. C. (2016). Financial planning with excess liability insurance. The CPA Journal, (9). 34., Retrieved from https://ashford.content.edu
Seaquist, G. (2012). Business law for managers. San Diego, CA: Bridgepoint Education,
Inc. Retrieved from

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