SUMMARY

For this assignment you need to watch the video case study I have a great business idea! Now WHAT? and prepare a list of recommendations on the major business law questions an entrepreneur needs to address when deciding to open a business. Your proposal should (1) outline the most urgent decisions the entrepreneur has to make, (2) describe the available options for each decision and (3) provide a recommendation for each decision. Y

STEP-BY-STEP DIRECTIONS

Introduction (1 paragraph)

Describe briefly the business case and your goals for the proposal.

How to organize the business? (minimum 1 page)

Define the four options for organizing a business.

Explain the pros and cons of each option in terms of formation and liability.

Make a recommendation on how to organize the business and explain your reasoning.

How to arrange employment? (minimum 1.5 page)

Describe the three options for arranging employment.

Explain the duties and liabilities of employers in employee-employer arrangements, and compare them to the principals duties to agents and third parties in agency arrangements.

Make a recommendation for arranging employment and explain your reasoning.

Emphasize the importance of adopting non-discriminatory practices and list three specific strategies for avoiding discrimination in employment.

How to decide on the business real property? (minimum 0.5 page)

Describe the two options for the business real property (office space).

Provide the key legal steps for each option.

Make a recommendation. Which one is more appropriate in this case, and why?

How to deal with personal property? (minimum 0.5 page)

Describe the term creation of property.

Recommend an action step to protect the created product.

How to plan the sales activity? (minimum 1 page)

Describe the difference between sales of goods and contract for services.

Explain which one fits the business idea

Emphasize the key legal considerations in regards to consumer protection.

How to protect the business? (minimum 0.5 page)

Discuss at least two risks the business might face.

Define risk-bearing devices.

Recommend one risk-bearing device the entrepreneur should consider, and explain why.

Conclusion (1 paragraph)

Conclude your proposal with a reminder of your goals, a summary of what you have achieved, and a suggestion to the entrepreneur for next steps.