Business Regulations

Business Entities, Laws, and Regulations Paper Dorian Rowe BUS/415 Shaun Koenig November 14, 2011 Businesses in every effort sire to deal with entities, laws, and regulations. Management teams have to take into account items such(prenominal) as canvassation of control, revenue incomeation, and obligation issues among others. The purpose of this paper is to discuss the restaurant/bar, professional practice, and construction scenarios. For all(prenominal) scenario the telephone line entity that represents the best choice for individually telephone line, ownership structure, taxation, and liability issues for consideration.Identification of laws and regulations each business must consider in take ining the business, and identification of risks against which each business must entertain itself result also be examined for each scenario. Scenario 1 Cynthia and Mark visualize to open a sports bar and restaurant where customers socialize and watch gaudy events on large-screen TVs that hang around the bar. They do non have much money, but they do have Sandra, 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 (University of Phoenix, 2010).The business entity that represents the best choice for this business is a general federation that deuce or much people can form. Taking control would harp with the three co-owners to make a confederacy agreement in which each partner has equal rights in which to participate in the managing and controlling of the business. A majority rules over disagreements within the partnership situation and amendments to the agreement would subscribe to consent from all three owners. Each individual is responsible for his or her tax forms.Liability issues that should be taken into consideration include the unlimited personal liability for company loses, for a partners debts, for a partners transgressions. Laws and re gulations the business must consider in start the business deal with duration that technically a general partnership terminates with withdrawal of a co-owner, death or disability and sharing profits. Scenario 2 Renaldo and Naomi have just completed all educational and experiential requirements to be licensed as obstetricians. They want to open a birth clinic together.They will take out a large loan to finance start-up cost (University of Phoenix, 2010). Renaldo and Naomi are newly license as obstetricians and want to open a birth clinic together. Both will need to take out a huge loan to finance their start-up amounts. Renaldo and Naomi would be best to create a limited liability partnership (LLP) to organize their business. By forming the LLP, the partners protect themselves from liability beyond their initial capital contribution should the partnership fail or face a lawsuit.Members of an LLP are also not personally likely for the malpractice of one partner and states require LL P to carry substantial liability amends in exchange for this limited liability. The limited liability protects Renaldo and Naomi from taking personal responsibility for the loan they will take out should the business choke insolvent (Cheeseman, 2010). Forming an LLP ensures that Renaldo and Naomi retain control of their business because they are the nevertheless shareholders. For tax purposes, an LLP is not taxed as a separate entity so Akiva Renaldo and Naomi will only pay tax for the business profits on their individual tax returns.To form their LLP, Renaldo and Naomi will need to write and file articles of partnership in the state in which they wish to operate. If they choose to conduct business in another state, they will first need to register as a foreign LLP with that state. Organizing their business as a limited liability partnership offers Renaldo and Naomi the best combination of liability protection, tax benefits, and control of their business (Cheeseman, 2010). Scenar io 3 Mei-Lin is the hiring manager for Surebuild, Inc. , a new construction company. She has advertised a repose as a jackhammer operator.The positions description states that the favored applicant must have a high instill diploma. The succeeding(a) people apply for the position Donna, 35, who appears to be pregnant, is a high schooling graduate, and was formerly employed as a jackhammer operator Duane, 55, who is experience with a jackhammer, but has no high school diploma Rick, who is 38, does not speak English, has no high school diploma, but is experienced with a jackhammer and Jennifer, 23, a college graduate, who is epileptic and has no experience with a jackhammer (University of Phoenix, 2010).Duane and Rick automatically do not qualify because they do not have a high school diploma that is a specify requirement in the job description. Donna and Jennifer do because they each have a diploma and from there the employee with the most experience should be hired. As an epile ptic the Americans with Disabilities piece (ADA) protects Jennifer, but because Donna has experience and Jennifer does not Donna is more qualified. Although Donna is pregnant the manipulation law and regulation with which the business must comply in making a decisiveness would be the amended 1964 Pregnancy Discrimination Act from the Title VII of the Civil Rights Act.The Pregnancy Discrimination Act covers employers with more than 15 employees including local and state government governments, employment agencies, labor brasss. The can of pregnancy, childbirth, or related medical conditions constitutes unlawful sex discrimination chthonic Title VII, and to the federal government. The Pregnancy Discrimination Act says that an employer simply cannot stand to hire a woman who is pregnant because of pregnancy, pregnancy-related conditions or because of the bias of swell coworkers or customers.In this scenario Donna is fully qualified for the job because of her high school diploma and her previous experience as a jackhammer operator, therefrom pregnancy cannot be the reason she is not hired. Each business decision is unique and requires research to determine what solution is correct for the business. Every organization must consider the different types of business entities, laws, and regulations before and during operating. Laws and regulations provide the manakin to compliance of local, state, and federal business laws.Stakeholder understanding and knowledge of these laws is essential to compliance. document training and retraining of management and employees should ensure compliance. References Cheeseman, H. R. (2010). The legal environment of business and online commerce (6th ed. ). Retrieved from https//ecampus. phoenix. edu/content/eBookLibrary2/content/TOC. aspx? assetdataid=fb9bdcea-ca02-48cc-b883-c1cf12695559&assetmetaid=61859383-2c36-48f5-8ac2-4a24e5c61e14 University of Phoenix. (2010). Syllabus. Retrieved from University of Phoenix, BUS 415 websi te