Imagine that you own each of the following
businesses:
Tinker’s Home Security Service (sole
proprietorship)
Tinker & Tailor’s Home Security Service (general partnership)
Tinker & Tailor’s Home Security Service (LP)
Tinker & Tailor’s Home Security Service, Inc. (corporation)
Tinker & Tailor’s Home Security Service, LLC (LLC)
·
The businesses are being sued
for breach of contract. Create a matrix that lists each business, and compare
and contrast your personal liability exposure as an owner as a result of the
lawsuit.
·
For each business entity,
analyze how you might limit your liability exposure as an owner.
·
Describe a business that you
may own some day or that you currently own. (Even if you never plan to own a
business, pretend as if you will do so for the purposes of this assignment.)
Examine the best business organizational form for the business that you have
described, including in your examination personal liability exposure,
management, taxation, and ease of formation.
Submit a four- to five-page paper (not including
title and reference pages). Your paper must be formatted according to APA style
as outlined in the approved APA style guide and you must cite at least three
scholarly sources in addition to the textbook.
