Reference no: EM131763261

Initiating and defending lawsuits and litigation is only one aspect of legal work. For example, many attorneys spend their time advising clients on drafting contracts, structuring businesses, and managing workforces. This assignment asks you to place yourself in the role of attorneys advising clients who would like to set up a new business entity

PAPER Format: 12' Font Double Spaced / double-spaced / one inch margins

Outline format is at the end

Citations:  Sources must be cited internally (in the body of the paper) or as endnotes

Length: Your task is to draft a formal memo (8 - 10 pages) to your clients, giving them advice. Below you will find information on your clients and their needs:

1. You should draft your response in the form of a formal memo to your clients. Address your advice and concerns directly to them.

2. Your Memo should have the following heading:

Before answering these questions, please review:

• Chapter 9 - assigned readings( I have picture at the other file)

• Chapters 4 & 5 (to a much lesser extent)( I have picture at the other file)

• your lecture notes

These are not all or nothing answers. You can earn anywhere from some credit to full credit on any given question. Conciseness, clarity and organization are highly valued.

Your clients / Facts:

Candy and Sandy, who are friends and new entrepreneurs, have decided to start a clothing business to manufacture inexpensive clothing for fashion-conscious women in their thirties, forties, and fifties. They want to market themselves as a "grown-up" H&M and plan to use the name "Stylish in the City."
Candy and Sandy must decide what type of business organization their clothing company should be. Here are their considerations:

• They do not have much money in their personal bank accounts. Both women are single, have above-average credit card debt, pay high Suburban Philadelphia rents, have minimal savings and earn approximately $90,000 in salary each year.

• Candy and Sandy have a fantastic idea and a large and influential network of friends and associates. They already have interest from numerous investors. As a result, they intend to raise capital to start this business from investors but do not want use their own personal assets.

• The potential investors in the business are friends and relatives of Candy and Sandy who have their own jobs. As a result, they are interested in this endeavor only as an investment and do not want to be involved in managing the business.

• Candy and Sandy have limited resources to spend on up-front costs. They need help deciding on where to spend their money in the early stages: legal and accounting costs, space rental, branding, raw materials, and technology costs.

• Candy and Sandy have limited management experience and may want to hire their friends Mimi and Marianna manage the business for them. After the business is operating for a year or two, They are considering offering Mimi and Marianna an ownership interest

Attachment:- STYLISH IN THE CITY.rar