Imagine that you own each of the following businesses Tinker\'s Home security Se
ID: 2637631 • Letter: I
Question
Imagine that you own each of the following businessesTinker's Home security Service (sole proprietorship) Tinker & Taylor's Home Security Service (general partnership) Tinker & Taylor's Home Security Service (LP) Tinker & Taylor's Home Security Service (corporation) Tinker & Taylor's Home Security Service (LLC)
1) The businesses are being sued for breach of contract. Create a matrix that lists each business and compare and contrast your personal exposure as an owner as a result of the lawsuit.
2) For each business entity, analyze how you might limit your exposure as an owner.
3) Describe a business that you may own someday or that you currently own (even if you don't never plan to own a business pretend as if you do. Imagine that you own each of the following businesses
Tinker's Home security Service (sole proprietorship) Tinker & Taylor's Home Security Service (general partnership) Tinker & Taylor's Home Security Service (LP) Tinker & Taylor's Home Security Service (corporation) Tinker & Taylor's Home Security Service (LLC)
1) The businesses are being sued for breach of contract. Create a matrix that lists each business and compare and contrast your personal exposure as an owner as a result of the lawsuit.
2) For each business entity, analyze how you might limit your exposure as an owner.
3) Describe a business that you may own someday or that you currently own (even if you don't never plan to own a business pretend as if you do.
Tinker's Home security Service (sole proprietorship) Tinker's Home security Service (sole proprietorship) Tinker & Taylor's Home Security Service (general partnership) Tinker & Taylor's Home Security Service (LP) Tinker & Taylor's Home Security Service (LP) Tinker & Taylor's Home Security Service (corporation) Tinker & Taylor's Home Security Service (corporation) Tinker & Taylor's Home Security Service (LLC) Tinker & Taylor's Home Security Service (LLC)
1) The businesses are being sued for breach of contract. Create a matrix that lists each business and compare and contrast your personal exposure as an owner as a result of the lawsuit.
2) For each business entity, analyze how you might limit your exposure as an owner.
3) Describe a business that you may own someday or that you currently own (even if you don't never plan to own a business pretend as if you do.
Explanation / Answer
2. as a owner, i can control sole firm as a whole
in partnership, i may have little control and here the controlling authority is shared with my partners
as a owner of limited liability firm, i may control the firm with some legal obligations
in corporation, the authority is lies with board of directors and majority of the shareholders.
3. I want to start a business which is wholly owned firm, not only for profits but to enjoy the authority and power.
Being a good and practical person, i know what is good and what to do what not to do, so I want to start a sole trading firm