Limited Liability Corporate (LLC) or Partnership
Forming a business may be as simple as shaking another individual's hand or it may be a complex process of filling out forms, paying application fees and taking steps to achieve compliance. The degree of complexity will be shaped significantly by the nature of one's chosen line of business. This, in turn, will define the legal definition of this business. In the discussion hereafter, we consider these distinctions as they apply to a Limited Liability Corporation (LLC) or a partnership.

Limited Liability:

The Limited Liability Corporation is a popular path for many small businesses beginning operations. This is a course to formation frequently taken by companies wishing to formally register as a business but also wishing to protect participants from many of the perils that inherently accompany starting a business. In exchange for these protections, the LLC requires a process of application. According to Carter (2010) "LLCs…...

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Works Cited:

Carter, C. (2010). Limited Liability Corporations vs. Partnerships. Small Business Chronicle.

Keshav Lal. (2005). LLC v. Partnership. Accountant4me.com.

LegalZoom. (2008). Comparing an LLC to a Sole Proprietorship and a Partnership. LLCs Education Center.

Florida Limited Liability Company
Florida does allow the formation of a Limited Liability Company (Florida Department of State, 2017). In essence, the state permits various filing options, i.e. online filing or the completion of a PDF form and mailing the same to the Division of Corporations (Florida Department of State, 2017). Applicants must pay the required payment.
Limited Liability Partnership
Florida also allows the formation of a Limited Liability Partnership. Some of the details that ought to be included when applying for the Florida Limited Liability Partnership certificate include, but they are not limited to: the partnership name; designated office and its mailing address; the name, address as well as signature of the registered agent; and the names and signatures of each general partner (Florida Department of State, 2017).
Hawaii
Limited Liability Company
Hawaii permits the formation of a Limited Liability Company. Essentially, to register a Limited Liability Company in this particular state, one “must file the…...

Business Entities There are four different types of business entities that you can choose for your company. Some of the factors to take into consideration are liability, taxation and ownership structure. The different major business structures will each have their advantages and disadvantages, depending on the needs of your business. Understanding the differences between the different business structures is essential to aligning the structure with your business needs.
The most basic form of business is the sole proprietorship. The sole proprietor is the owner and operator of the business. There are minimal legal requirements to start a sole proprietorship – just the basic licenses to operate a business. For legal and taxation purposes, there is no distinction between the proprietor and the business. The proprietor has full legal liability, and pays taxes as an individual on income earned, at personal tax rates. Further, the business assets are equal to the personal assets…...

There are several different types of business entities, and they each come with advantages and disadvantages. The first type is the sole proprietorship. This type is best suited to a small business that is run by just one person, as the owner bears all of the liability. That means both financial and legal liability – should anything happen with the business, the owner is responsible. The owner's personal assets are therefore at risk, which has certain implications. Furthermore, business income flows through to the owner as personal income, and is therefore taxed at the personal rate, which is often higher than the business rate. Sole proprietorships are very easy to set up – there is basically no set-up, which makes them popular. The second main type of business entity is the partnership. This type of entity has two or more people, and they share ownership. The terms of the partnership are…...

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References

Accountingverse.com (2018) Types and forms of business. Accountingverse.com. Retrieved June 14, 2018 from

Investopedia (2018). Limited liablity company (LLC). Investopedia. Retrieved June 14, 2018 from https://www.investopedia.com/terms/l/llc.asp

IRS.gov (2018) S corporations. Internal Revenue Service. Retrieved June 14, 2018 from https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations

https://www.accountingverse.com/accounting-basics/types-of-businesses.html

3.Location: what is required in order to expand into another state?

The corporation would have to file as a foreign corporation in the new state. This requires filing for a certificate of authority with the Department of State.

S-corporation

1.Longevity: can the company exist indefinitely? What happens upon the death or disassociation of an owner?

A shareholder's shares are treated as the shareholder's real property and are distributed after death as such. Upon the death of an owner (shareholder), the corporation would continue to function normally and the rights attached to those shares would be exercised normally by whomever owns the shares. A corporation survives until it is dissolved voluntarily by its shareholders or involuntarily through bankruptcy, regulatory action, etc.

2.Compliance: discuss and meetings, filings, reports, fees or other regulatory requirements.

To register as an S-Corporation, you would just register as a standard C-Corporation, then specify on your IRS Tax Return that you are filing taxes…...

In conclusion, the article is both interesting and important. It provides new information the academic can use as a springboard for further study. It can also provide a valuable premise for current business practice, particularly in terms of capital and the value of particular kinds of partnerships. The lack of literature study and unity is a pity, but by no means detracts from the importance of the study. Indeed, the very shortcomings of the article can serve to inspire future authors to better efforts. Future considerations for study could then focus more clearly upon the literature and upon how this connects with the new data presented in the article.

eferences

Beckert, Sven. (2001). The Monied Metropolis: New York City and the Consolidation of the American Bourgeoisie, 1850-1896. Cambridge: Cambridge University Press.

Kessler, Amalia D. (2003, Jun.) Limited Liability in Context: Lessons from the French Origins of the American Limited Partnership. The Journal of…...

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References

Beckert, Sven. (2001). The Monied Metropolis: New York City and the Consolidation of the American Bourgeoisie, 1850-1896. Cambridge: Cambridge University Press.

Kessler, Amalia D. (2003, Jun.) Limited Liability in Context: Lessons from the French Origins of the American Limited Partnership. The Journal of Legal Studies, Vo. 32, No.2.

Lamoreaux, Naomi R., and Jean-Laurent Rosenthal. "Legal Regime and Business's Organizational Choice: A Comparison of France and the United States During the Era of Industrialization." American Law and Economics Review 7, no. 1 (2005): 28 -- 61.

Wallis, John Joseph. "Market-Augmenting Government? States and Corporations in Nineteenth-Century America." In Market-Augmenting Government: The Institutional Foundations for Prosperity, edited by Omar Azfar and Charles a. Cadwell, 223 -- 65. Ann Arbor: University of Michigan Press, 2003

Limited partnership limited partners have shares of ownership however, they do not take part to manage the partnership. They are neither liable for the amount which are greater than what they had invested in partnership. It contrasts to the general partners who play roles in daily operations of partnership, and are personally responsible for any liabilities of partnership. This paper therefore compares and contrasts the risks and benefits of being in a limited partnership in regards to corporate and partnership law.
In limited partnership, there tends to be some benefits or risks that a limited partner might face. One of the benefits of limited partnership for a limited partner is that, it is easier for the limited partnership to attract their investors since the capital that they invest in businesses is the liability for a limited partner. Limited partners on the other hand, benefits from the general partners by focusing the…...

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References

Clarkson, K.W., Miller, R.L., & Cross, F.B. (2012). Business law: text and cases: legal, ethical, global, and corporate environment (12th ed.). London: South-Western Cengage

Learning.

Goldstein, A.S. (2007). The limited partnership book. London: Garrett Pub..

Haupt, A., & Malange, N.J. (2010). Corporate law for commerce students: partnership, companies, and close corporations. London: Van Schaik Publishers.

This was followed by the enactments by House of Lords in 1897 in Solomon v. Solomon & Company. The concepts of corporate entity and limited liability were incorporated in English law in the same period. In this case, the head court announced that a company is a separate legal individual completely different from the members or shareholders.
From this announcement, we can say that a company is a separate legal entity having a separate life, different from its members. A company can be an owner of any property, can sue anyone, can be sued by anyone and has a life just as any going concern. It is a commonplace of the law, is a very heavy veil drawn between the two can be lifted in many cases; it seems that only a limited number of changes is based on current judicial thinking.

2.2 Some doctrines about Corporate Veil

The Court does not…...

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Bibliography

AW Machen, "Corporate Personality" (1910) 24 Harvard Law Review 253

J Dewey, "The Historic Background of Corporate Legal Personality" (1926) 35 Yale Law Journal 655

C Alting, "Piercing the corporate veil in German and American law - Liability of individuals and entities: a comparative view" (1994 -- 1995) 2 Tulsa Journal Comparative & International Law 187

AA Berle, "The Theory of Enterprise Entity" (1947) 47(3) Columbia Law Review 343

259). These authors assert that crowd management and crowd control constitute two additional vital issues that athletic facility management needs to address when hosting events at any stadium or venue.
Event managers also need to understand the type of event(s) they host and understand that variuos events draw different types of crowds, as no two crowds are alike and each crowd typically behaves in different manners. Abbott and Geddie (2001) warn: "Crowds can behave violently, resulting in destruction of property, personal injury, and, in extreme cases, death. Crowd management plans should be adjusted to meet the needs of the event and the potential crowd" (p. 260). Event managers need to prepare for the unexpected that might occur. They need to also realize that football game may require more security officers than a golf game.

Event managers also need to be aware of the surrounding location of the stadium or venue. Stadiums…...

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REFERENCES

Abbott, J. & Geddie, M.W. (2001). Event and venue management: Minimizing liability through effective crowd management techniques. Event Management. Cognizant Comm. Corp.

Vol. 6, pp. 259 -- 270. Retrieved July 10, 2009 from  http://www.popcenter.org/problems/spectator_violence/PDFs/Abbott.pdf 

Borkowski, R.P. (2006). When good facility go bad. Athletic Management. Retrieved July 12,

2009 from  http://www.athleticmanagement.com/2007/01/15/when_good_facilities_go_bad/indx.php

There are no other material costs related to the Offer is expected.
15. Who is the investigating accountant for this prospectus and what is their role?

Tiaro Coal Limited's investigating accountant is DO Kandalls Corporate Finance (NSE) Pty Ltd. The purpose of the investigating accountant's appointment is to report on the concerns raised in Australian Securities Investment Commission's (ASIC) application in relation to the Offer. The report must comply with the Australian Auditing Standard (AUS) 804 or at least, the reasonableness of the report can be appropriately verified (Cockburn: 2002: 1).

16. What are the risk factors associated with this prospectus and briefly describe each?

Investing in Tiaro Coal Limited involve embracing the susceptibility to uncertainties and risks. According to Section 10 of the Prospectus, Tiaro Coal's business activities are subject to both business risks and general risks. In relation to the nature of the business, there is the associated specific risk on…...

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Bibliography

Cockburn, Richard. "

Avoiding stop orders on your prospectus," Australian Securities & Investments Commission Financial tips and safety checks. 2002. Accessed on March 23,

Australian Securities & Investment Commission. National names index. Extracted from ASIC's database on March 23, 2008.

Van Horne, James C. Financial Management and Policy. "Option Financing: Warrants,

Rachel and Choo Hospital
Choo Choo's Liability

The fact that Rachel was initially discharged from the emergency department following examination by a physician with nothing more than a prescription for pain medication when she was in fact suffering form a very serious blood infection could definitely leave Choo Hospital exposed to litigation. There are several key elements of this case, as briefly as it has been described, that lead to this potential exposure to liability and tortuous action. First, the emergency room physician is expected to provide a certain level of care in his diagnosis, and if it was reasonable to foresee a more serious underlying problem of the general pain the patient presented with, the physician (and by extension the hospital) could be liable for failing to make proper recommendations and determinations. Second, then, a determination must be made as to whether or not the blood infection that was the underlying…...

Accounting
Journal Entries

A/P

A/R

Cash

Liabilities

AP

AR

Cash

Liabilities

Cash

Cash

Liabilities

Reserve

Theory

Alan Moser and Stephanie Philips operate a successful software business in Brisbane. Alan and Stephanie are existing clients of your accounting firm CPT Accountants. Their business currently operates as a partnership but due to expansion plans they are considering incorporating the business (ie becoming a company). They wish to clarify the following points before making a decision and have asked CPT accountants to write a report answering the following:

What is the difference between forming a proprietary (private) company and public company?

There is substantial difference in the reporting requirements and tax basis for private and public companies. However, the biggest difference is how the legal entities deal with liability. Under a sole proprietorship and a partnership the owner can be held liable for many different problems that the business incurs while under a public model the company's owners have a limited liability. This offers the investors in a public company…...

The Common Law Theory of Negligence Negligence is defined as the failure to exercise the appropriate care that is expected to be exercised under the specified circumstances. In law, negligence is the breach of a legal duty to take care that results in damage undesired by the defendant. The underlying concept of negligence is that individuals should at all times exercise reasonable care in their actions (Scott). This is done by considering the potential harm that one might foreseeably cause to another individual or property. Looking at personal security, this is quite applicable in that even when offering security, one should ensure that they take care of their actions. Even though one might be forced to use force, it must be used only when absolutely necessary and this action should be considered and determined that it will not result in harm to others. Business owners or organizations that hire security guards…...

Financial Analysis of Bestwish Limited
Company Overview

Bestwish Limited produces extensive range of quality products such as gift dressing, greetings cards, and plush merchandise of more than 50,000 stocks. The production of different categories of products involve between 2 and 15 processes. The company produces standardized products and custom designed products ordered from customers on contract basis. However, Bestwish Limited is facing challenges to control the costs because of varying production process, reliance on indirect costs and large number of stock keeping units.

Bestwish Limited has just closed the 2010 fiscal year account and the company is finalizing the 2011 budget. Bestwish intends to analyze the 2010 financial statement to present the accurate picture of the company financial performances.

Objective of this report is to analyze 2010 financial statements to assess the viability of Bestwish Limited.

Task

Attn:

Audit Committee of the Board

Finance Director

Subject: Financial statement Analysis

Date: 27 January 2013.

This report verifies the 2010 financial statement of…...

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References

Drury, C. (2009). Management Accounting for Business, 4th Edition (Cengage Learning EMEA, ) ISBN 1408017717.

Harris, R. And Sollis, R. (2003).Applied Time Series Modelling and Forecasting (John Wiley and Sons) ISBN 0470844434

Glynn, J. Perrin, J. Murphy, M. And Abraham, A. (2003).Accounting for Managers, 3rd Edition.(Thomson Learning) ISBN 186152904X

The Times 100, (2012). Financial statements and reporting A Cadbury Schweppes case study. The Times 100 Business Case Studies.

Product Liability Tort
RISK AND RESPONSIILITY

A tort is a civil wrong, loss or harm inflicted by a person's behavior upon another (LII, 2010). While it is not necessarily an illegal act itself, the law allows the person harmed to recover his loss or receive compensation for the harm. It differs from a crime wherein the person's harmful act affects society in general. A claim of tort may be filed in a civil court. The three main elements of a tort are duty, the breach of that duty, and the injury or harm caused by the breach. The four main types of torts are intentional, negligence, strict liability, and nuisance. One type of negligence torts is products liability (LII).

Products liability can be incurred by any or all of the persons involved in the manufacturing chain of a product for the damage it causes (LII, 2010; Lim, 2012). It may be the manufacturer…...

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BIBLIOGRAPHY

Harb, T. (2008). 7 essential elements of ERM and the role of internal audit. The Institute of Internal Auditors. Retrieved on December 29, 2012 from  http://www.inconsult.com.au/Articles/Essential%2520elements%2520of%2520role%2520of%2520Internal%2520Audit.pdf 

LII (2010). Products liability. Legal Information Institute: Cornell University Law

School. Retrieved on December 30, 2012 from  http://www.law.cornell.edu/wex/products_liability 

Lim, K. (2012). How can businesses reduce product liability risks? Globial International

1. Market Research:

Before embarking on any business venture, it's crucial to conduct thorough market research. This involves:

Identifying your target audience: Determine who your potential customers are, their demographics, interests, and needs.
Analyzing the competitive landscape: Research potential competitors, their strengths, weaknesses, and market share.
Gauging market demand: Assess the overall demand for your product or service and identify any market gaps or opportunities.

2. Business Plan:

A comprehensive business plan serves as a roadmap for your venture. It should outline:

Mission statement and goals: Clearly define your business's purpose and objectives.
Market analysis: Summarize your market research findings and identify your....