Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Part 1 (Post this response in the main U4 DB thread “Unit 4 Discussion Board”)
As you reflect on your time at Phishy Pharmaceuticals, you decide it is time to move on with your career. You have always wanted to start you own restaurant business and be an entrepreneur. As an entrepreneur, you must decide whether the business should operate as one of the major forms of business organization—sole proprietorship, general partnership, limited partnership, limited liability partnership, limited liability company, or corporation—or under other available legal business forms. Your selection depends on many factors, including the ease and cost of formation, the capital requirements of the business, the flexibility of management decisions, government restrictions, personal liability, tax considerations, and the like. You must choose one of the major forms of business that is best for your business. (For this assignment, you should not choose a sole proprietorship for your business entity.) In your initial Discussion Board post, you must address each of the following:
The defining legal characteristics of your business entity
The advantages and disadvantages of your legal business entity
The operating agreement required by your entity
Why that entity choice is the best for your business
Part 2 (Post this response in the appropriate topic within U4 DB [labeled “FOR” and “AGAINST”])
After researching the different legal business entity options for your restaurant, you have decided to operate as a “C” corporation.
Based on the first initial of your last name, complete the following:
First initial A–L: Provide an argument that supports your decision to start your restaurant as a “C” corporation. Submit your position by posting in the Unit 4 Debate Forum under the FOR topic.
First initial M–Z: Provide an argument against starting your restaurant as a “C” Corporation. Submit your position by posting in the Unit 4 Debate Forum under the AGAINST topic.