Document6.docx - Discussion 1 The first amendment of the...

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Discussion 1 The first amendment of the Constitution states that American citizens have the right to religious freedom, the freedom of speech or of the press, the right of the people peaceably to assemble, and to petition the Government for a redress of grievances (Seaquist, 2012, Appendix A). The amendment allows business owners to run their business based on their beliefs. If an owner bases their business philosophy upon religious beliefs, the first amendment protects that right. The amendment also allows businesses to engage in political speech. This allows businesses to advocate for issues that are important to them. The first amendment can limit businesses in a way that they can attempt to use the first amendment for advertising and public policy but end up in a law suit due to state laws. An example of this would be the case against Nike in 2002. In California, Nike was under fire from activists for allegedly engaging in sweatshop conditions and child labor (Warner, 2016). In response, Nike issued a series of press releases in denial. Nike’s defense was that they were exercising the first amendment, but they violated California law of denials constituted false advertising by a company. The first amendment applies to my professional life because I am apart of the diversity and inclusion group with my company. Every month our group supports different causes and participates in different events for our company to voice its opinion and support. The first amendment protects the right for T- Mobile to be able to advocate issues that are important to the company and its employees. Seaquist, G. (2012). Business low for managers. Retrieved from Warner, D., Mayer, D., Siedel, G., & Lieberman, J. K. (2016). The Legal and Ethical Environment of Business 1.0. Discussion 2 An LLC is used to protect individual members of a business from being held responsible or liable for debts or liabilities created by the company itself. “A C corporation is a business term that is used to distinguish this type of entity from others, as its profits are taxed separately from its owners under subchapter C of the Internal Revenue Code. In an S corporation, the profits are passed on to the shareholders, and are taxed based on personal returns” (Business Dictionary, 2017, “What Is A C Corporation”, para 1). If I were running a business, I would definitely run it as an LLC because I believe I could get a lot more done with less paperwork and procedures plus it would give me liability protection without having to pay extra on taxes. With a C-Corp, the owners of the business must pay their personal income taxes on profits made by the business and the business must also pay the corporate income tax. With the S-Corp, the owners must also pay income taxes on profits made but they are able to have shareholders within the company. But the shareholders have to be US citizens. For the most financial gain, I feel that the LLC is the right way to go in case issues with the company arise such as lawsuits or bankruptcy. Also profits

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