Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

Make your own business-to-business entity (see case below). In a 1,050 to 1,750-word paper address these basic elements of business formation:

1) Idea/vision for the business

2) Identify legal and regulatory issues to be considered in creating/modifying this business

3) How you would select professionals to rely upon for business advice, and whom would you choose?

4) What legal entity choice would you make for this business and why?

Case Business Situation

Maury and Sons is an oilfield-drilling contractor. Maury has been dead for years and Monty and Max, two of Maury's grandsons, now operate the business as a general partnership. They contract with companies such as ExxonMobil and BP-Amoco. Last year's contracts exceeded $1 million in revenues, an all-time high. The partnership currently employs 50 people on oil-rig crews and 10 in administrative positions.

Monty and Max each own 25% of the business (they acquired their interests from their deceased fathers, Fred and Barney). Two aunts, Wilma and Betty, own the remaining 50%. Wilma and Betty, each in their early 80s, have no children.

The business was originally a sole proprietorship. Maury brought Fred and Barney into the business, yet there is no formal partnership agreement. Wilma and Betty have never been actively involved in the business, yet were given their interests after Maury's wife, Mable, passed away.

Monty and Max want to continue to expand the business and, eventually, sell the business to a "consolidator" (a company that buys local businesses, usually in exchange for a combination of stock, cash, and debt).

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M935510

Have any Question? 


Related Questions in Homework Help/Study Tips

Financing health care and managing cost and revenue -

Financing Health Care and Managing Cost and Revenue - Discussion Discussion Topics 1. Discuss the outcome model of quality. 2. Explain the concept of governmental regulation; delineate the impact it has on cost and quali ...

Educational assignmenthannah is a third-grade student who

Educational Assignment Hannah is a third-grade student who transferred to Cartwright Elementary School late in the fall from a neighboring district. According to her records, Hannah has been in five different schools sin ...

Explain the role of nutrients and food in the prevention of

Explain the role of nutrients and food in the prevention of disease and optimization of human health. Think about an area of nutrition that you are interested in studying and focusing on. (diabetes). Write a descriptive ...

Instructionsthis assignment should be typed and

Instructions: This assignment should be typed and double-spaced, with one-inch margins. It is to be no more than 10 pages, with a 12 point font size.  The assignment is due on Saturday December 10th. The 10 page length r ...

Book business law textampexercises 8th editionchapter 153

BOOK "BUSINESS LAW TEXT&EXERCISES 8TH EDITION Chapter 15 3. Promises made in conspirator of marriage. After twenty-nine years of marriage, Robert and Mary Lou Tuttle were divorced. They admitted in court that before they ...

Application assignment course project-interview reflection

Application Assignment: Course Project-Interview Reflection and Lesson Plan Your Application Assignment this week is to complete both parts of the Course Project as well as add to your Strategies for Teaching Adult Learn ...

Each student is required to research and collect data and

Each student is required to research and collect data and information regarding an RFID system that can be integrated into a specific business process to solve a problem in their individual industry, career or field of s ...

For this assignment write an essay that is a completely

For this assignment, write an essay that is a completely full three pages in length. In this essay, discuss a specific conflict that you observed in an organization, and analyze the behaviors and outcomes of that conflic ...

Need 2 pages on each of the 4 assignmentsassignment 1 -

Need 2 pages on each of the 4 assignments. Assignment 1 - Healthy People Initiatives In a two page paper, examine the history and development of the Healthy People initiatives. Discuss some of the successes and shortfall ...

1 using the downward flow of information concept discuss

1. Using the "downward flow of information" concept, discuss the HazCom responsibilities of chemical producers, companies whose employees use chemicals, and the employees themselves. Your response must be at least 200 wo ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro