Why should monty-karen have a risk management plan in place

Reference no: EM133261786

Assignment:

Consider the following scenario and please answer

Monty and Karen are starting a landscaping company in the upcoming year, called "Hippo Strength Yard Maintenance". They want to use a small fleet of skid steer loaders, backhoe loaders and a concrete cement truck to work for local government to repair and replace sidewalks in the City. They are currently working through their business plan but now must decide what steps they need to take regarding their legal responsibilities in opening such a business in Halifax, Nova Scotia.

You have just been hired by Monty and Karen and because you have taken a business law course, they are looking to you to provide some information and research on what steps should be taken before seeking legal advice, hoping to save some dollars.

1. Why should Monty and Karen have a risk management plan in place? What is the value of this type of plan / why is it important?

2. What kind of research should you do to help them understand their legal responsibilities? How would you divide up the different areas of law that they should consider?

3. Are there any specific statutes or regulations that they need to know about? It could be in the training of their staff, including their truck and skid steer drivers, or any other statutes or regulations that could be relevant to their business.

Reference no: EM133261786

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