What liabilities will the business and the owners

Assignment Help Business Law and Ethics

Reference no: EM133203833

Question: This document should be approximately 10 pages in length, double spaced, one-inch margins, excluding charts and exhibits. Please make sure all sources are properly cited using APA style. The document should cover the following legal aspects:

A. Law Firm number and group members

B. Capital structure (meaning, who contributes the equity and how much)
The capital structure of Suitgenics will be the following:

C. Management of the business, decision making, and operation of the business

Suitgenics is a Limited Liability Corporation (LLC). This means that this business will be treated as a pass-through entity for federal income tax purposes. This implies that if a company has income for the year the business does not pay taxes on these profits. This is due to the fact that these profits are taxed to the members of the LLC on their personal tax returns. A similar concept applies to losses. The losses are also carried to the members' personal returns. The sharing of profits and losses will be divided as follows: the Chief Executive Officer (CEO) will have a share of 14.32 percent. Meanwhile the Chief Financial Officer (CFO), Human Resources Chief (HRC), Chief Marketing Officer (CMO), Chief Commercial Officer (CCO), Chief Technology Officer (CTO), and the Chief Operating Officer (COO) will have shares of 14.28 percent for a total of 100 percent. This split of shares was decided like this due to that the CEO of the company contributed more capital than the other officers.

E. Liability: What liabilities will the business and the owners have if they get sued? How and where would they defend any legal actions?
F. Duration
G. Transferability of interests
H. Taxation
I. Assess the level of competition and profit opportunities
J. Employment issues. Who is going to work the business? Does the business have employees or independent contractors? Is the company obligated to provide benefits? Does the company need an employment manual?
K. Licensing and regulations: Identify what licensing and regulatory requirements impact your business and how you are addressing them.
L. Contractual questions to consider:
I. Dispute resolution: Any corporate law disputes or business-to-business contractual disputes will be filed with Delaware's Court of Chancery. The Court of Chancery does not hear criminal cases and rarely hears civil cases seeking only money damages; therefore, we can obtain expert ruling from the Court within days or weeks. In order to maintain a less hostile environment, we may initiate mediations in the Court of Chancery without actually filing a lawsuit
II. Disclaimers/waivers
III. Disclosure
IV. Choice of law/forum
V. Release of liability

Reference no: EM133203833

Questions Cloud

Build a full risk management plan : Build a full risk management plan, including a complete risk matrix for a project for a wedding including the wedding itself, the reception and the dinner.

How you have grown in skills and knowledge over semester : Reflect on what you have learned about yourself, about marketing, and how you have grown in skills and/or knowledge over the semester. Write 2 pages.

Research paper on new supervisory skills : Think about these challenges you will face as a new supervisor. You may want to break this into fixing immediate problems, a six-month goal, and one-year goal.

Identify the segment that the ad is targeting : Identify the segment that the ad is targeting. What is the positioning strategy that the company is using in this ad?

What liabilities will the business and the owners : What liabilities will the business and the owners have if they get sued? How and where would they defend any legal actions

Write policy brief regarding issue relevant to health policy : DNP 840 Grand Canyon University Assignment - Political Activism Essay. Write a policy brief regarding an issue relevant to health policy

Identify and write the adverb clause : Identify and write the adverb clause in each sentence below.

What restraining forces are blocking change program : University of Maryland University College - In your opinion, what restraining forces are blocking implementation of a change program?

Should samantha be forced to settle her claim : Grossmont Cuyamaca Community College District - Should Samantha be forced to settle her claim through arbitration - Name one aspect would you retain

User Account

All Pages