I will be needing 3 or more pages for each case study, in my current attachments I have included 2 milestones and 1 discussion case study. I will included what needs to be fixed as soon as tutor is approved. This assignment will be submitted to Turnitin®.
Final Project Submission: Case Study Analyses
In Module Seven, you will submit your final project. It should be a complete, polished artifact containing all of the critical elements of the final product. It should
reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.
Final Project Rubric
Guidelines for Submission: Each of the three reports should be three to six pages in length. The documents should use double spacing, 12-point Times New
Roman font, and one-inch margins. Citations must be given in APA format.
For the Final Project, you are revising, editing, or changing information based on my feedback and resubmitting a polished work product for Milestones 1, 2, and 3. All 3 Milestones should be placed in one (1) document. That means, you will only have one (1) cover page and one (1) reference page. The analysis for each case study should still be the same essay format. I encourage you to separate case studies by using headers ie., Milestone 1/Case Study 1, Milestone 2/Case Study 2, Milestone 3/Case Study 3. You MUST highlight parts of the essay/s that have been revised, changed, or edited.
Please contact me with any questions. I am here to help!
Best regards,
Prof. Aleks
I will be attaching the responses from my instructor on the 2 of the 3 case studies after my tutor is picked. there are to many to attach right now.
3rd case study was a discussion which has not been graded yet for feedback.
Case Study Three Discussion
Aimee Darwin posted Dec 5, 2020 9:20 PM
There are four types of business entities: partnership, sole proprietorship, corporation, and limited liability partnership. A sole proprietorship is an organization with only one owner who disburses personal income tax on profits obtained. The business is easy to start since they are no government involvement. The advantages of a sole proprietorship include having less paperwork to get started, fewer registration fees, abridged business holding, easier measures, and fewer conditions for business taxes. For sole proprietorship, it is simple and affordable, and there are operating freedom and flexibility. However, there are disadvantages related to a sole proprietorship, including lacking liability protection, difficulty selling the business, and getting financing and business credit (Hansmann et al., 2007).
The partnership involves an agreement by two or more parties to oversee and engage a business and share its profit. A partnership’s advantages include less precise with fewer contractual constraints, sharing the anxiety, approach to expertise, skills, practice, and contacts, and it offers advanced decision-making. Also, partnership disadvantages include: the business has no absolute legal prominence, immense liability, defined approach to capital, and anticipated lack of prominence.
Corporation involves a group of organizations certified to deed as a single existence and perceived as law. Some of the enterprise’s advantages include having personal liability protection, business insurance, and constancy, and easy access to capital. However, the corporation has disadvantages such as the business being time-consuming, being subject to double taxes, and having definite procedures and obligations to adhere to (Hansmann et al., 2007).
Limited liability partnership involves a partnership with limited liabilities. Some of the limited liability partnership advantages include capital being quite generous, having shared responsibilities at work, and limited partner faces limited liability for losses. However, this type of business entity has disadvantages, including rupture in agreement, and the accustomed partners bear superlative liability in case of credits.
The type of business entity for Jeb and Josh is a limited partnership. Jeb wants to be just general partners, while Jeb is a limited partner. Jeb and Josh will be sharing profits equally. Since Jeb does not want to participate in the day-to-day activities, he has no liability beyond what he invested in the organization.
Reference
Hansmann, H., Kraakman, R., & Squire, R. (2007). The new business entities in evolutionary perspective. European Business Organization Law Review, 8(1), 59-69.
Jerry Williams Sun at 3:13 PM
Aimee, Great explanation. The size and potential growth of the business could help determine which business entity would be the best option. Jeb and Josh’s partnership is in legal troubles due to the accident. Since they decided to expand their business and offer whitewater rafting, rock-climbing, and camping excursions, it opened the door for greater liabilities. If they have a limited liability partnership, Josh is not responsible for Jeb’s behalf. Since Jeb has his own personal legal troubles, Josh will not be liable for Jeb’s half in the business if Jeb does not have the resources.Jerry
Craig Dileo Sun at 4:24 PM
Hi Aimmee,I really like your insight is very important for all businesses to protect themselves by forming a corporation or an LLC at the very least but if you have a small company you may not want to form one of these entities especially like you said they will have to pay more in taxes especially if you are small you would not want to pay a lot in tax.
Habebah Yusufi Mon at 10:28 AM
He Aimee!You did a great job explaining which business entity would be the best option for Jeb and Josh. I agree that the limited partnership might be the best option for them since it gives both of them the best option as far as liability and the ease of setting it up. I really enjoyed reading and learning about the different types of business entities and what they each entail. Good luck!
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