Lone Star College Titans Company Business Paper

InstructionsPlease submit you paper as an editable document and NOT a pdf or photo!!

I can access Word, Pages and Google Docs!!

Please select from the following list of business formations to write your paper about for your final project this semester. The instructions are in the attached document. Please ask any questions you need to ask to make your decision about which form or what is expected in the paper.

1. Sole Proprietorship

2. Franchise

3. Partnership

4. Limited Liability Corporation

5. Corporation

Business Organization Project

Fall 2019

Business Law

Businesses can take several different forms. Each formation has a unique set of characteristics that are important for the entrepreneur to consider before starting a business. Liability, taxes, and management are just a few of the areas that differentiate the business structures.

You have signed up for a specific business organizational type.

You will research and create the business model that you have chosen. All businesses are headquartered and do business in the state of Texas for this project.

Each person will function as an entrepreneur who is setting up the assigned business organization. I have included a list of factors that you will need to address and include in your paper and visual presentation. The list below is not exclusive, so you may include other interesting information, but you MUST include the following:

1. Give your business a name and describe what goods or services your business will provide. Check the USPTO website to make sure your name is available!

We don’t want to start out with trademark infringement!

Do you need to register your name within the state of Texas.

2. Are there Federal government agencies that oversee or monitor this type of business? If so, which agencies and what functions do they require? Do you need to register with them to create this form of business?

3. What, if any, registration requirements are necessary within the state Texas?

4. Are there Federal or state administrative agencies that oversee your type of business?

(FDA, TRAC, State Bar, etc.)

5. Is there anyone else or any other agency that you need to notify in order to start the business?

6. Include links to any government agency listed above.

7. What is the investment plan for your business? How will you raise capital? You can be creative but must be realistic.

8. What type of formation agreement or document is required to start your business?

9. What is the personal liability for you and others in your business?

10. What is the management and control structure of your business?

How are the duties divided?

11. How are profits distributed?

12. Who pays taxes on profits in your organization?

13. What are the tax benefits and disadvantages to your organization?

14. What are the business benefits and disadvantages to your organization?

15. What is the procedure for terminating your business?

16. Give an example or examples of well-known businesses of this type.

Once you have determined the above factors you will write a short paper describing what you have discovered in your research. Your papers will be graded individually so this work needs to be your own. All papers need to be typed. The format for the papers is below. It is not a formal research paper so citations, footnotes, etc. are not included. Consider it a professional memorandum or report that you would prepare for others.