Business Law: Create a Pros and Cons list for each business form. Decide which entity form best suits your needs

In this task you will explore the legal structure in the United States. You will then explore business entities and which one might be best for your final project business.

Use the following steps to learn all you can to accomplish this task.

Research The Branches of Government

If you are not familiar with the U.S. branches of government, this may take a little of extra time. Make sure you have a firm foundation on what the balance of power looks and acts like.

Explore:

• • • • • • • • • • • • • U.S. House of Representatives (http://www.house.gov)
                        • U.S. Senate (http://www.senate.gov)
                        • Supreme Court of the United States (http://www.supremecourt.gov)
                        • The Executive (http://www.whitehouse.gov)

Research types of business entities. What are the tax consequences? Liability? Other concerns?

• • • • • • • • • • • • • Watch Setting Up Your Small Business as a Legal Entity with Dana Robinson
                        • Review the Business One Stop website about a Corporation, Partnership, Sole Proprietorship, and other business forms.
                        • Read Chapter 8 of Business for Beginners: From Research and Business Plans to Money, Marketing and the Law

For your final project you will create a business. It is now time to decide on the form that business will take.

Create a Pros and Cons list for each business form, keeping in mind your particular business. Decide which entity form best suits your needs. Upload below.