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LAW 531 Business Forms & Governance Presentation

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Business Forms & Governance April 11, 2019 Law/531 Mr. Timothy Sheaffer Agenda ◼ ◼ ◼ ◼ ◼ ◼ ◼ ◼ Solar Company business plan Risk & issues Solar Company’s influenced decision Potential legal liabilities as a corporation Minimizing the liabilities Conclusion Questions References Solar Company Business Plan ◼ Limited liability company (LLC) ◼ Easier to set up ◼ Losses can offset other income (Best, 2015) Risk & Issues ◼ Liable for civil and criminal action ◼ Federal & state laws ◼ Possible lawsuits (Best, 2015) Influenced Decision ◼ Obligatory debts ◼ Capital investments ◼ Control of (LLC) (Best, 2015) Potential Legal Liabilities As A Corporation ◼ Employee rights ◼ Federal and state laws (Bankruptcy & Fraud) ◼ Responsibilities of management (Corporation, 2016) Minimizing The Liabilities ◼ Control debts ◼ Improve standards ◼ Understand issues between employees and management (Best, 2015) Conclusion The best form of organization for the manufacturing company is a (LLC) as this type of organization allows for partners who own the company to not only share the responsibilities, profits, and contribute ideas to the company, it also allows for less risk of personal financial loss. (LLC’s) are easier and more affordable to set up than a corporation and provides more protection for business owners. A (LLC) is the best suited form of organization for the manufacturing company to utilize as I ...
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