Business Analytics Questions

Textbook

Business Law, 9th Ed. By Roger L. Miller and William E. Hollowell, Cengage Publisher

Answer all the questions in the attached file.

You and your neighbor (or your spouse) have decided to start a business together. Indicate your approach
to the following issues:
1) Describe the type of business you will begin. What will you do? What will your name be?
2) What type of entity will you set up (sole proprietor, partnership, LLC, Corporation)- see Chapter 28?
Explain the type of entity and why you have chosen this type – discuss how this can affect the financial
and legal responsibilities of each person. (Chapter 1 and Chapters 29-31)
3) In addition to the information in question 2, discuss each person in the company and their management
role (see chapter 30).
4) Discuss in detail the financial issues that will arise with your business. Will you need land, buildings,
equipment, supplies, employees, insurance, etc? (See chapters 32-39
5) If you need to finance (take loans) out for dealing with the issues in question 4, discuss what approach
you will take to financing the business (Chapters 32-35).
6) depending on your type of business, search the internet and see if there are any government laws
(Federal United States laws) or state laws (California) that govern your type of business. Explain the laws
and address how you will ensure that the business is in compliance with each law.
7) Discuss the elements you will include in a contract for your future customers (ee chapters 8-16).
Indicate at least ten important components to include ina contract agreement.
8) If you begin to sell a product of a home/land, discuss the issues that are vital in ensuring that the sale
follows all laws required (chapters 17-21). List at least 10 things you will include in the sale document.
9) Discuss your approach to hiring employees – indicate the following: how many employees, the role of
each person, how many hours each will work, local and state wages and benefits that are required, and
other employment requirements (see chapters 25, 26, 27).
10) make sure that the title to the property or the items in the property can be sold and passed cording to
the legal requirements (see chapters 18-21)
11) Clarify the sales process of the location/business/property/item (etc) and discuss your process in
completing the negotiation and agreeing on the appropriate price and details of the sale (see chapter 22-24)