Description
Open the attachment and answer all of the questions. Please do your best to PROOF read your work and do NOT "cut and paste" anything from other sources. WRITE it in your own words.
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Explanation & Answer
Attached.
Running head: CREATING A BUSINESS
Creating a Business
Student’s Name
Institutional Affiliation
1
CREATING A BUSINESS
2
Creating a Business
Question #1
Purple Hills Wines and Eatery
Question #2
Since the state of Arizona now allows online name search and securing of the desired name (if
it’s not already taken), the name “Purple Hills Wines and Eatery” will be searched through the
website (https://apps.azsos.gov/apps/tntp/index.html). A fee of $45 will be paid for the
reservation of the business name online.
Question #3
To secure the name and make sure that no one else can use it, a registration of $10/$15 will be
paid to the office of the Secretary of State to trademark the trade name. This will prevent anyone
else under this jurisdiction to use that name for their business. This is a good precautionary
measure since it protects the uniqueness of a business and shields it from opportunistic
individuals who would want to register the name as their own and take advantage of the
popularity that the previous business owner had gained so far. If in future the organization
decides to change the business name to adjust to any changes in the strategic objectives, a new
form will have to be filed to capture these changes. This form is also available through the state’s
online portal and will be accessed at a fee (depending on what the state will be charging at that
time). Moreover, if the business grows and expands to other states, it may become necessary to
work with an attorney for better legal counsel since interstate commerce is sophisticated.
Question #4
The business will operate as an LLC (Limited Liability Corporation).
Question #5
An LLC has many advantages over most of the other business forms that could have been
used for this business. First, an LLC enjoys limited liability. This means that in the event of debts
or other obl...