Reduce future liability and problems of the new business

Assignment Help Operation Management
Reference no: EM131033229

John is the sole proprietor of a business that designs web pages. He leases an office and buys computer equipment. He has an idea or a new software product, however, on which he works whenever he has time and which he hopes will be more profitable than designing Web pages. After six months, Mary and Paul come to work in the business to help develop John's idea. John continues to pay the rent and other expenses, including salaries for Mary and Paul. John does not expect to make a profit at least until the software is developed, which could be months, and there may be very little profit if the product is not marketed successfully. John believes that if the product is successful, however, the company will be able to follow up with other products. John would like to retain overall control of the business, but needs to find a way to tie the salaries of Mary and Paul to the success of the business; and needs to raise capital to implement his business plan. He also wants to limit his personal liability if the business fails. Post ONE important consideration in choosing a form of business organization for this firm that will best allow it to meet John's objectives. What are the advantages and disadvantages of this option? Suggest a written document that John should developed to reduce future liability and problems of the new business. Provide sound reasoning for your stance and back it up with references, if possible. logic should be factual

Reference no: EM131033229


Write a Review


Operation Management Questions & Answers

  Mission statement with your personal christian vision

Pick a company with a good mission and compare that mission statement with your personal Christian vision and mission for long term success and what you will do over the next eight weeks to achieve your vision and mission, integrating your understand..

  Contemporary concept of prisoner reentry hold

What significance does the contemporary concept of prisoner reentry hold for today’s corrections administrators? (e.g., what can they do to prepare an offender for reentry). For society?

  Compare and contrast domestic and global logistics operation

Compare and contrast domestic and global logistics operation and describe the logistics characteristics of a firm moving toward a globally integrated enterprise strategy.

  Demand is expected to be uniformly distributed

Consider a newsvendor problem where demand is expected to be uniformly distributed between 800 and 1,900 units. If the selling price of the product is $190 per unit and the cost of the product is $70 per unit and the unsold items will be disposed (wi..

  Cultivated a friendship with several union stewards

The employees of Alexander Hotel are unionized. The owner has cultivated a friendship with several union stewards - they drink and play cards together. When they do ask for raises he stonewalls the negotiations by insisting that he cannot afford the ..

  Shaped chewable vitamins for children

The Summerville Vitamin Company manufactures bottles of animal-shaped chewable vitamins for children

  Product should be manufactured to maximize profits

Andrew McCarroll is trying to determine how many units each of two cordless telephones to produce each day. One of these is the standard model; the other one is the deluxe model. The profit per unit on the standard model is $40, on the deluxe model $..

  Fewer cards for suppliers than customers or more cards

If you are using Kanban and you have a process that is a sharp bottleneck (i.e., its utilization is much higher than other processes), all other things being equal, would you expect to have fewer cards for its suppliers than its customers or more car..

  What exactly are the process building blocks

what exactly are the process building blocks and what information is provided in a SCOR description of a building block and describe a number of discoveries and changes made at Sport Obermeyer, including that Sport Obermeyer

  Illustrate what actions can firms take to ensure

Illustrate what actions can firms take to ensure which y realize illustrate whatever economies of scale are created by their volume of production.

  Preparing and submitting the team''s final project

In preparation for preparing and submitting the team's Final Project, each week you will create your own consultant's notes as you observe various CanGo meetings (via the video episodes/cases).

  What is the standard task time for the operation

A time study indicates that a worker takes 430 seconds to perform an operation. The worker is known to be quite skilled and the supervisor estimates before the timing that her performance will be about 10% above average. During a 7-day workday, vario..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd