Constitutional and Legal Underpinnings of Business Law/Limited Liability Companies

Part 1 and Part 2 must be at least 150 - 200 words unless otherwise noted

Part 1: Constitutional and Legal Underpinnings of Business Law

Review the Constitution in Appendix A and choose one of the following sections of the U.S. Constitution or a specified amendment to use as the basis for your initial response:

§ Any of Congress’s enumerated powers under Article I, Section 8

§ 1st Amendment

§ 4th Amendment

§ 5th Amendment

§ 14th Amendment

Identify the section of the Constitution or its amendment that you have chosen. Discuss how this section of the Constitution or its amendments both limit and protect business in general. Describe an example of how the section of the Constitution or its amendment that you have chosen could be applied to your professional life (past, present, or future). In your example, discuss whether the section of the Constitution you have chosen to address limits business or protects it.

Part 2:  Limited Liability Companies 

When to form an LLC (https://www.forbes.com/sites/tomtaulli/2016/07/24/when-to-form-an-llc-limited-liability-company/#3fe4500d4e0d) discusses why the LLC is one of the most popular types of business entity. After reading the article and Chapter 30 of the textbook, compare an LLC with a C corporation and with an S corporation. If you were operating your own business, would you choose the LLC as the organizational form for your business? Explain your reasoning.

Required Resources 

Text

Seaquist, G. (2012). Business law for managers [Electronic version]. Retrieved from https://content.ashford.edu/

Please read the following chapters in: Business law for managers:

• Chapter 1: The Civil Law and Common Law      Traditions
• Chapter 28: Sole Proprietorships and      Partnerships
• Chapter 29: Limited Partnerships
• Chapter 30: Corporations
• Appendix A: The Constitution of the United      States of America

Article

Taulli, T. (2016, July 24) When to form an LLC (Limited liability company). Forbes. Retrieved from  http://www.forbes.com/sites/tomtaulli/2016/07/24/when-to-form-an-llc-limited-liability-company/#289ac1051307

Recommended Resources 

Text

Business Law for Managers

• Chapter 2: Beginning a Civil      Lawsuit
• Chapter 3: Completing the Civil      Lawsuit and Alternative Dispute Resolution
• Appendix C: Timeline of Major      Modern Legal Developments That Affect Modern Businesses

Website

Find Laws, Legal Information, and Attorneys - FindLaw. (n.d.). Find Laws, Legal Information, and Attorneys -FindLaw. Retrieved October 19, 2012, from http://findlaw.com