Business Law 1 (CID1441C) Week 3 Assingment outline
As a manager of an up a coming small business there are several things to consider. Formulating a recommendation to the owner of how to change this business entity would will require a detailed evaluation of laws that will govern the business. Careful consideration of any contracts in place would also need to be considered before determining what type of business to form. Due to the dangerous nature of the product produced by a fireworks company possible liability would need to be evaluated so the proper insurance could be purchased. Because the business is also expanding from a garage operation to full-fledged business more employees will need to be hired and how they interact with the new structure is critical to the business success. Finally because the business expanding operating at as a sole proprietorship is not only profitable but risky due to the dangerous nature of the specialized product. All of these issues are essential in the evaluation of a growing business and if improperly considered could put the owners business in legal jeopardy.
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