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Running Head: BUSINESS ENTITIES PAPER 1 Business Entities Paper Evan Burk Christine Meadows Bus/415 March 29, 2011 Business Entities Paper
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BUSINESS ENTITIES PAPER 2 Starting a business has been a dream of many Americans as well as many different people living in the world today. A lot of these businesses may have a huge impact on our society today. I know it has been a personal goal of mine is to one day own my own business. A lot of people do not realize everything that is needed to get a business started, especially in today’s economy. One must consider state and federal laws and regulations in regards to the type of business they want to start up. A person must also look into different business entities, taxation laws, taking control, and finally any type of liability issues that may be involved. All of these are very important factors to consider when starting a business. Throughout this paper we will be able to further look into some of these issues and take a look at some examples for starting a business. In the first scenario it involves three different types of people who want to start up a sports bar. Lou and Jose are the ones who came up with the idea for the bar, but unfortunately do not have the funds to start it. Throughout this bar Lou and Jose want the whole setup with hanging TV’s and a large screen TV so that they may be able to watch sporting events. They do have Miriam who is a wealthy investor who want to provide the funds for a percentage of ownership although does not have time to participate. It is wise that because Miriam is going to
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