FOR BRAVO BRAINS ONLY

Discussion 1

Please respond to the following:

· Watch the short video on basic corporate structure and business entities. The video helps explain some of the legal nuances of a corporation and compares the corporation to other types of business entities discussed in the text. 

· Please watch videos

. Understanding Corporate Structure (1:07)

· http://www.investopedia.com/video/play/corporate-structure/

. Exploring business entity types | Small business | lynda.com (10:10)

· https://www.youtube.com/watch?v=UEGkczPJJ9Q

· A friend has asked you to help her decide how to protect her soon-to-be-opened bakery from liability, while still maintaining a business structure that fits her needs. Compare and contrast two (2) different possible business entities that would be suitable for her and explain why. Be sure to support your response with legal reasoning.

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At least two paragraphs

Please cite all sources ( at least one)

REPLY TO A CLASSMATE

Telisha ALLEN wrote

A friend has asked you to help her decide how to protect her soon-to-be-opened bakery from liability, while still maintaining a business structure that fits her needs. Compare and contrast two (2) different possible business entities that would be suitable for her and explain why. Be sure to support your response with legal reasoning.

I would advise my friend to start a limited liability partnership (LLP) or a limited liability company (LLC). Both of these entities are a flow-through tax entity, meaning the business does not have to pay taxes on any profit made and the members are not liable for any of the company’s debt. (Beatty, Samuelson, & Sanchez Abril, 2016).  Choosing either would protect the liability of my friends business. On one hand she may find that is easier to start an LLC because only a charter is needed, whereas to form a LLP the partners must file a statement of qualification with the state as well as file annual reports (Beatty, Samuelson, & Sanchez Abril, 2016). Additionally, if something should happen preventing her from running her bakery in a LLC she can transfer her interest as long as it is written in the operating agreement, while a LLP does not offer such flexibility.

Once I have explained the pros and cons to her, I would tell her my thoughts on the situation. In my opinion, she would find it easiest to form a sole proprietorship. However, a sole proprietorship does not offer the limited liability as a LLC or LLP would. She would be personally responsible for any debts or liabilities incurred by the business. Therefore, it would be in her best interest to form a LLC and include terms of dissolving the entity within the operating agreement.

Beatty, J. F., Samuelson, S. S., & Sanchez Abril, P. (2016). Introduction to Business Law, Fifth Edition. Boston, Massachussetts: Cengage Learning.

Please reply with one to two paragraphs

Must present facts and have at least one reference

Discussion 2

Please respond to the following:

· Review the article / video below, which sets the stage for your discussion response.

. Did Target ignore data breach warnings? (2:55)

 http://www.cbsnews.com/news/target-ignored-systems-hacking-warnings-report-says/

· Based on the video, did the company presented in the video allow a breach of security based on the laws and ideas discussed in the text? Why or why not? What was done to help remedy the situation, and was it enough based on the legal standard? What legal steps should the company take (or should the company have taken) to avoid personal identity or information from being compromised? Be sure to support your response.

At least two paragraphs

Please present fact and cite all sources ( at least one)

REPLY TO A CLASSMATE

There no response from anyone yet so make something up related to the topic please

One to two paragraphs, present facts and cite at least one reference