Assignment:
A good example of some headings to use and ways to structure the paper is as follows:
• Short Overview of Business (incl. type of legal entity (with rationale), employees)
• Contract Issues & Contracts Needed
• Employment & Safety Issues (incl. use of independent contractors and need for non-competes)
• Environmental Issues
• Consumer Law Issues
• Warranty Issues
• Intellectual Property Issues
• Real Estate Issues (incl. buy or lease, fixtures, zoning)
• Bailments & Found Property
• Cyberlaw/Digital Privacy Issues
• Insurance Needed (incl. significant risks of liability)
• International Issues
• Financing Means (explain legal issues)
• Ethical Considerations
• Succession Planning
• Legal Issues Unique to Your Business
If a section doesn't apply to your business, just say so and move on.
The following are some key questions to ask about your business.
Part 1
1. Ethics - what specific ethics issues will you face?'
2. International law - will you be dealing internationally and, if so, how will you address the trade and contract issues addressed in the text?
Part 2
1. Tort liability - what liability risks will you face?
2. Cyber law - what issues will you face with your online presence? Will you have a website, social media, and an information management system accessed online (i.e. a database)? What privacy issues will you face?
Part 3
1. Will you use employees or independent contractors, or a combination of both? If ICs, why do they meet the criteria?
2. What activities will you use agents for (e.g. finding raw materials)? What is the liability exposure?
3. Will you have an employee handbook?
4. Will you exceed the number of employees that will trigger various laws? If so, which one's?
5. What specific workplace safety and wage & hour issues will you face?
6. What kind of discrimination issues might your business realistically face?
7. How will you deal with any discrimination claims?
8. What hiring issues might you realistically face?
9. Is your industry one in which unionization is common? If so, how will you deal with union activities
Part 4
1. Pick a type of business entity (sole proprietorship, S corporation, C corporation, LLC, general partnership, LLP, limited partnership, or professional corporation) and whether it will be a franchise or franchise itself.
2. Decide on your entities' place of business; andI
3. If the entity is a corporation, I want to know the state of incorporation.
Part 5
1. Think through the different contracts you will need in your business. What are the various transactions you will engage in? Suppliers, employees, clients, contractors, etc. Note: I am NOT looking for a discussion about unilateral, bilateral, express, and implied contracts, etc.
2. Are there any impediments that may be an issue in your business (e.g. minor capacity)?
3. What contractual risks will you face in your business and how you will protect yourself? For example, for restaurants, you would want a time certain date in the contract regarding delivery of food. For some businesses, you want an exculpatory clause or limitation on damages.
Part 6
1. Will you take sell/buy with other merchants (Article 2 issues)?
2. Will you offer express warranties (or be covered by them) and how will implied warranties impact you?
3. Write/take checks or issue a note to another party (Article 3 issues)?
4. Obtain bank financing and have to put assets up as collateral (Article 9 issues)?
Part 7
1. Consider whether you plan to take your business public at some point in the future.
2. Discuss what antitrust issues you could possibly face and how you would deal with them. In other words, how could anti-competitive behavior be likely used against you in your business.
3. How will you sell and advertise your products and services? Which legal issues will you face?
4. Will you extend consumer credit? Which legal issues will you face?
5. Will you extend any written warranties or be on the consumer end of warranties?
6. Will sell consumer products and which safety issues could arise?
7. What environmental issues will you have to address in your business (go through each area and see how it will apply)?
8. How will you address the relationship with your accountant and the financial controls you will have on your business?
Part 8
1. What kind of intellectual property will you have that will need to be protected, and how will you do so? Think through any trademarks, copyrights, patents, and trade secrets.
2. What kind of personal property issues will you have, including found property and common carrier issues?
3. Are you going to buy or lease? What legal issues will you face with that decision?
4. What land use, zoning, and ADA issues will you have?
5. How will you protect your business assets in the case of death of yourself or a principal in your business?
Attachment:- Memo Format.rar