What entity is most appropriate for mom and pop

Reference no: EM132320208 , Length: word count : 1200

Business Law Assignment 1

You are a paralegal in a corporate law firm. You have been tasked with creating a worksheet to help to identify the most ideal type of business entity for the clients.

Begin by explaining the different types of entities. From there, prepare a comprehensive list of pros and cons associated with each business entity.

Develop a fact pattern to illustrate an example of a "good fit" for each business entity to serve as a detailed working example. Give credit to all sources.

Business Law Assignment 2

Business Organizations and Corporate Law~Neal R, Bevans Assignment Mom and Pop just moved to your state!

They had plans of retiring but loved running their General Store as sole proprietors and already miss it.

There was a small space for rent in town and they couldn't resist setting up shop but they want to run things on a smaller scale than they have in the past so they can still have some time to relax.

They are considering some business relationships with various Internet retailers who would sell through their store but direct ship to their customers so they do not have to house the inventory.

Given the new circumstances and additional players involved, Mom and Pop have consulted your supervising attorney about the best way to structure their new business venture.

Your attorney asks you (the paralegal) to draft a four to five-page memo discussing the advantages and disadvantages of operating as each type of business entity based on Mom and Pop's situation.

In your explanation of these potential entities, including a discussion of the following:

What are the key advantages and disadvantages of operating Mom and Pop's business as each different type of business entity?

What relevant facts should be considered in determining the ideal business entity for Mom and Pop?

What entity is most appropriate for Mom and Pop?

What key considerations caused you to reach this conclusion? Submit your assignment in memorandum format. Be sure to cite all sources.

Reference no: EM132320208

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