Business Entities, Laws, And Regulations Paper

Business Entities, Laws, and Regulations Paper
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BUS415
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Business Entities, Laws, and Regulations Paper
For the Organization to be successful, they must invest in a good business plan. The critical aspect the business plan that companies should set prior to operation are state laws, federal laws, business entities and regulation, not considering these issues whenstarting a new company can lead to poor results. This paper will cover two of the scenarios with new organizations and edge that institution is better for each company individually, identifies the laws and regulations that every organization must take into account, and identifies potential hazards that every company should be protect against itself.
Restaurant/Bar Scenario
On thefirst scenario, Lou and Jose are planning to open a sports bar with Miriam providing the capital in return for a percentage of their business. As Lou and Jose will be running operations during the day while Miriam invests their money in the company, the best choice for the company to the sports bar is a limited partnership. In this arrangement, Lou and Jose act as general partners while Miriam is thelimited partner. Cheeseman (2010) assertion is that the partnership should file a document stating their information return as well as their income information such as the amount they earn and lose from the partnership. Lou and Jose will have complete control of daily business operations. Miriam cannot interfere with the business because could lose their limited partner status and lose theirlimited liability protection. Miriam is responsible only for the amount of capital invested in her but cannot get the investment without the consent of Lou and Joseph. Another consideration in opening up the business is the acquisition of workers. Civil Rights Act of 1964 requires fair considerations of all the applications that the company may receive. Once the owners have finally chosen the rightcandidates, they should come up with the list of regulations for the employees to observe. Failure to follow certain regulations either by the employees or by the business itself can lead to the forced closing of the business. By ensuring a workplace that is free from such untoward incidents, customers and employees would therefore feel safe in their working environment.
The responsibility ofadhering to the laws and regulations fall completely in Lou, Jose and their partnership. Per the type of business operate attempt Lou and Jose will be important for them to operate their business both morally and ethically thus preventing further local community situations. The business will serve alcohol and need to follow the laws concerning this sale that have been determined by the state. Thelaws on alcohol consumption vary from state to state. Each state requires that businesses that sell alcohol have a license. Failure to meet with this law can reach fines and even close the business.
New businesses come with many risks. For Miriam, the risk is the return on your investment. Even though she has no control of day to day operations of the business, it will be important for always keepby monitoring the money and profits to check how well their partners are using their investment. Lou and Jose have an obligation toward investors by using the money wisely to substantially profit in their business.
Construction Scenario
The second scenario involves a new building company named SureBuild and their hiring manager. SureBuild recently announced it is recruiting ajackhammer operator. The company stated in her advertisement that the applicant must have completed at least their fourth year and has their high school diploma. Me-Lin, as the hiring manager, is responsible for finding the ideal candidate for this position by ensuring that the recruitment process is in accordance with relevant government regulations. The last four candidates for this position are...