This week you will complete a milestone assignment that builds toward your Portfolio Project in Module $8.$ For this milestone you will select your Portfolio choice and begin drafting your business proposal, including four to six references. Begin by reading the descriptions for the Module $8$ Portfolio Project. Choose one; do not do both projects. You can also view the grading rubric for the project in Module $8.$

Submission Guidelines

Select either Option $1$ or Option $2$ and indicate your choice.

Based on your choice, you will complete a tentative and partial business plan focused on the legal aspects of a business $($see Module $8$ assignment and grading rubric$).$ Please complete the following items.

The goals of your organization. Remember to include corporate social responsibility initiatives, sustainability, ethics, etc.

Identify and describe the business entity that is best for your business. Examples may include partnerships, limited liability companies, or corporations. $($For this assignment, you should NOT choose a sole proprietorship for your business entity.$)$

Describe the type of legal entity you selected. For example, does it have a separate legal existence, does it require formal registration, what is the management structure, how is it taxed, what are the compliance requirements, etc... of the chosen type of business entity based on your business concept.

Defend your choice of business entity. $($Explain the legal advantages$/$disadvantages of the selected type of buisiness entity based on your business concept$).$

Describe the specific legal steps needed to start the business successfully.

Note: Steps will vary, depending on the type of business you choose and the state in which you are located.

Four to six references formatted according to guidelines in the CSU Global Writing Center $($accessed from the course navigation menu$).$

Good sources of research for this area include the following:

Textbooks

Review FindLawLinks to an external site. for information on the business formation process.

The Small Business Administration websiteLinks to an external site. will be helpful; it includes information on how to start a small business.

LendingTreeLinks to an external site. is a good resource for explaining the different types of business entities.