Jentz 11e-IM-Ch42 - Chapter42 Title: BusLawSeal.eps...

Chapter 42
Law for Small Businesses
See Separate Lecture Outline System
I
NTRODUCTION
This chapter discusses law with a particular emphasis on options and legal requirements faced by en-
trepreneurs   who   wish   to   start   up   their   own  businesses.     It   explains   how   general   legal   principles   found
throughout the text apply in the entrepreneurial context.  Because of the importance of legal compliance in the
success of an entrepreneurial venture, the chapter also discusses how to obtain legal counsel.
A
DDITIONAL
R
ESOURCES
—
A
UDIO
& V
IDEO
S
UPPLEMENTS
The following audio and video supplements relate to topics discussed in this chapter—
PowerPoint Slides
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INSTRUCTOR’S MANUAL TO ACCOMPANY BUSINESS LAW , ELEVENTH EDITION
To highlight some of this chapter’s key points, you might use the Lecture Review PowerPoint slides
compiled for Chapter 42.

CHAPTER 42:  LAW FOR SMALL BUSINESSES
63
C
HAPTER
O
UTLINE
I. The Importance of Legal Counsel
The text points out that counsel is necessary to stay current with all the rules and statutes governing
business and to comply with those laws.
A. F
INDING AN
A
TTORNEY
The text suggests sources for finding an attorney.
B. I
NTERVIEWING AND
E
VALUATING
A
TTORNEYS
Questions a potential client should ask after interviewing an attorney are listed.
C. R
ETAINING AN
A
TTORNEY
Reasons for retaining an attorney on an ongoing basis are stated.
D. R
ETAINING AN
A
CCOUNTANT
Having an accountant adds to a business’s credibility.
II. Selecting an Appropriate Business Form
The text outlines the following factors to consider when choosing a business form (sole proprietorship,
general partnership, limited partnership, a corporation, an S corporation, a limited liability company, or
a limited liability partnership):
A
NSWER TO
C
RITICAL
A
NALYSIS
Q
UESTION IN THE
F
EATURE
—
I
NSIGHT INTO THE
G
LOBAL
E
NVIRONMENT
Researchers are attempting to create technology that would allow Web site operators to screen out users
from certain geographic areas.  What global issues discussed in this feature might be less of a problem if such
technology   becomes   cheap   and   effective? Businesses   could   find   it   possible   to   do   business   only   in
jurisdictions that they choose, which might limit the jurisdictions in which those businesses would be
subject to suit. Content that a government or nation prohibits or otherwise finds objectionable could be
screened from access by users within its geographic reach. Some trademark problems might also be