Business Entities, Laws and Regulations
For each of the following business proposals, discuss the business entity that represents the best choice for each business, taking control, taxation, and liability issues into consideration. Identify laws and regulations each business must consider in starting the business, and identify risks against which each business must protect itself. For the scenario, discuss the above elements, and identify and discuss the employment laws and regulations with which the business must comply in making a decision.
1 – Restaurant/Bar
Lou and Jose plan to open a sports bar and restaurant where customers socialize and watch sporting events on large-screen TVs that hang around the bar. They do not have much money, but they do have Miriam, a wealthy investor who does not have time to participate in the business, but wants to provide capital to start the business in return for a percentage ownership.
2 – Extermination Business
Frank is a wealthy investor who plans to open a chain of exterminating businesses across the United States.
3 – Construction
Mei-Lin is the hiring manager for Surebuild, Inc., a new construction company. She has advertised a position as a jackhammer operator. The position’s description states that the successful applicant must have a high school diploma. The following people apply for the position: Michelle, 35, who appears to be pregnant, is a high school graduate, and was formerly employed as a jackhammer operator; Eric, 55, who is experienced with a jackhammer, but has no high school diploma; Felipe, who is 38, speaks no English, has no high school diploma, but is experienced with a jackhammer; and Nick, 23, a college graduate who is epileptic, and has no experience with a jackhammer.
Please point me in the right direction!