Business Entities Regulations
Business Entities, Laws, and Regulations Paper
Tia London-White
BUS 415
May 23, 2011
Pamela Weddell
Business Entities, Laws, and Regulations Paper
Extermination Business: The best business entity for Frank would be a franchise. A franchise is established when a franchisor, Frank, licenses another party to use their trade name, trademarks, commercial symbols, patents, copyrights, and other property while supplying and selling their goods and services (Cheeseman, 2011). Frank should enter a chain-style franchise. In this type of franchise he will be allowed to service the public and sell products in different areas. He will have to create franchise agreements. The agreements will establish the policies and procedures of the franchise. …show more content…
A LLP is a special form of partnership that states all partners are limited partners who stand to lose only the money that they invested to start the business (Cheeseman, 2011). LLPs are limited to professionals such as doctors, lawyers, and attorneys (Cheeseman, 2011). To create their LLP the must file an articles of partnership with the secretary of state where they will be operating their business. LLPs are required to carry a large sum for liability insurance. Most states require a minimum policy amount of $1 million. This policy covers misbehaviors, carelessness, and any wrong doings of a partner or any other employee that works for the LLP. In a LLP, Akiva and Tara will not have to pay federal taxes on their business to the IRS. They will have to report their profits and losses of the business when they file their individual tax returns. Once Akiva and Tara have established their birth clinic as a LLP, they must follow the American Public Health Association, APHA, guidelines. They must make sure that their staff members are licensed and trained in the appropriate job functions of the clinic. They must make sure the clinic is designed and built properly. The clinic must have the right certified equipment. The clinic must have the appropriate number of birthing, bath, laundry, exam, and storage rooms. These rooms must be the correct size and equipped accordingly. In addition, there must be an area for emergency and lab equipment. There must be hand washing stations in every area of the clinic. The stations must be easily accessible to the entire staff. The clinic must also be equipped with the approved fire and safety systems. Akiva and Tara must have a documented emergency management plan. The clinic must keep and maintain an updated policy and procedures manual. The manual must include consultation, transportation, health and medical records, program evaluations, quality
Tia London-White
BUS 415
May 23, 2011
Pamela Weddell
Business Entities, Laws, and Regulations Paper
Extermination Business: The best business entity for Frank would be a franchise. A franchise is established when a franchisor, Frank, licenses another party to use their trade name, trademarks, commercial symbols, patents, copyrights, and other property while supplying and selling their goods and services (Cheeseman, 2011). Frank should enter a chain-style franchise. In this type of franchise he will be allowed to service the public and sell products in different areas. He will have to create franchise agreements. The agreements will establish the policies and procedures of the franchise. …show more content…
A LLP is a special form of partnership that states all partners are limited partners who stand to lose only the money that they invested to start the business (Cheeseman, 2011). LLPs are limited to professionals such as doctors, lawyers, and attorneys (Cheeseman, 2011). To create their LLP the must file an articles of partnership with the secretary of state where they will be operating their business. LLPs are required to carry a large sum for liability insurance. Most states require a minimum policy amount of $1 million. This policy covers misbehaviors, carelessness, and any wrong doings of a partner or any other employee that works for the LLP. In a LLP, Akiva and Tara will not have to pay federal taxes on their business to the IRS. They will have to report their profits and losses of the business when they file their individual tax returns. Once Akiva and Tara have established their birth clinic as a LLP, they must follow the American Public Health Association, APHA, guidelines. They must make sure that their staff members are licensed and trained in the appropriate job functions of the clinic. They must make sure the clinic is designed and built properly. The clinic must have the right certified equipment. The clinic must have the appropriate number of birthing, bath, laundry, exam, and storage rooms. These rooms must be the correct size and equipped accordingly. In addition, there must be an area for emergency and lab equipment. There must be hand washing stations in every area of the clinic. The stations must be easily accessible to the entire staff. The clinic must also be equipped with the approved fire and safety systems. Akiva and Tara must have a documented emergency management plan. The clinic must keep and maintain an updated policy and procedures manual. The manual must include consultation, transportation, health and medical records, program evaluations, quality