Your Supervising Attorney P. Strami and his associate Hammond have been called out-of-state to consu

Jul 14th, 2016
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Using the facts P. Strami provided above, Ms. Bacon would like for you to prepare a 2–3-page double-spaced memorandum to Attorney Strami and her in size 12 Times New Roman font discussing the following in the order presented: Discuss the pros and cons of three main types of business organizations (sole proprietorship, partnerships, and corporations) and determine which would be the best type for the Cardigans. Research the names that the Cardigans have suggested and determine whether or not these would be wise choices for their proposed business. Indicate what issues may be present if they use either of these names. Using your state’s laws and depending on the type of business you have recommended for the Cardigans, determine what types of filing requirements Cora and Caley will need to fulfill.

Word Count: 1269
Showing Page: 1/6
Potential Cardigan Home Store Business FormationMemo - Potential Cardigan Home Store Business FormationNameInstitutionDatePotential Cardigan Home Store Business FormationMemo Potential Cardigan Home Store Business FormationDate:To: P. Strami and Mable BaconFrom:Re: Potential Cardigan Home Store Business FormationOwing a new business is one of the big decision for any industrialist. There are threefundamental types of business ownership. 1st is partnership, 2nd is sole proprietorship, and the 3rdone is incorporation.A small business with only one worker is called the owner Sole proprietorships. on theother hand,to run a business an industrialist needs to appoint a manager in sole proprietorship torun the enterprise on a daily basis (Kelly, 2013). It is the duty of owner to realize all the profitsfrom the business and in case of loss assumes accountability. The sole proprietorship is theeasiest form of ownership among all. It is the highly used type of ownership. Selection andregistration of the business name is one of the essential things to be considered (Kelly, 2013). Itis needed to register any business name with a local government agency that does not completelyincorporate the personal name of the business holder (Kelly, 2013). Regarding to the function ofthe business, all the choices are made by Owners of sole proprietorships. The possessions ofentrepreneurs and its business are combinly considered in sole proprietorships (Kelly, 2013). Insh

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