Topic:Business Organization and Business Torts
Subject:Business
Format: APA
Volume: 2 pages
Type: Essay
Description
Use your own references for this assignment. Suppose that your brother’s lemonade stand business has grown substantially. Carefully materials on business organization and tort law. See 3 Questions below, then, write a 2 page paper discussing what kind of legal structure your brother’s business should adopt and potential liability risks that he faces. Scenario: After signing the agreement with Peter, your brother’s lemonade has become so popular it is being sold at lemonade stands all over the neighborhood. Your brother has named himself “CEO” of the lemonade business, Peter has become his business partner and “Chief Operating Officer,” and they have five of their friends working for them. While their business is booming, they sometimes argue about the share of profits. You are also concerned that, now that their business is rapidly growing, they may face problems of potential lawsuits and liability, and you wish for your brother to come up with a formal legal structure for his business. What kind of liability might your brother’s business face? What kind of legal structure should your brother adopt for his business, and why? Will this structure you recommend reduce his liability? Refer to at least one reference materials page to support your answer.
