Business Law

PART 2: KEY ASSIGNMENT: 2,000-3,000 WORDS WITH NO PLAGARISM AND REFERENCES FOR ANY SOURCES YOU PLAN TO USE. (DUE IN 40 HOURS)

PART 1: OUTLINE

PART 2:

As an entrepreneur, you want to start a business. You know that the first step is to consider drafting a business plan proposal to organize all of your ideas. For this assignment, you will be submitting a business plan proposal for your imaginary business. For research purposes, you can choose any state for the location of your business. Your business plan should include the following:

· Introduction of the proposed business

· Description and explanation of the type of business entity that is best for your business

· Partnership, corporation, etc. (for purposes of this assignment, you should NOT choose a sole proprietorship for your business entity.)

· Provide explanation for your choice of business entity (advantages/disadvantages of the selected type of business entity)

· Description of the specific steps needed to be followed to successfully and legally start the business

· Steps will vary, depending on the type of business you choose

· Good sources of research for this area include the following:

· Textbooks

· State statutes (for example, Chapters 47 and 48 of the South Dakota Codified Laws include information on the business formation process)

· The Small Business Administration Web site will be helpful; it includes information on how to start a small business

· A draft of the appropriate written agreement for the particular type of entity chosen

· Articles of incorporation, articles of organization, partnership agreement, etc.

· A draft of a valid contract with a vendor, supplier, customer, etc. that illustrates all elements of a contract and takes into consideration some of the topics discussed in the contract chapters

Part 3.

· Possible ethical considerations for your business, including any social responsibility plans or attitudes that your business will embrace

· Description of a possible disagreement that could be encountered among the partners or investors and shareholders.

· Examples could include the introduction of a new product line, borrowing money for expansion, an advertising campaign, etc.

· Illustration of the various ways the disagreement could be resolved (referring back to the formal documents, such as the articles of incorporation or the partnership agreement)

· Discussion of how the business would be terminated if the disagreement between the board of directors, shareholders, or partners could not be resolved