Problem: Based on research regarding base pay and the regulations governing equal pay, when and why do you think it is appropriate for a family-owned company to create a formal pay structure with job descriptions and salary ranges? At the opening of the business? After one year in business? When you employ enough people to fall within federal acts governing equal pay? And, do you think this pay structure should be public knowledge? Write a short essay on what you feel is appropriate. Imagine that this paper will be circulated to all the top managers for your company.