Write a paper answering the following questions. Each set of questions requires
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Write a paper answering the following questions. Each set of questions requires at least a one paragraph answer. A paragraph is a minimum of five complete sentences. 1. What is the name of your business? In which State you will be organized? What steps did you take to ensure that your business name is available? Business names should be professional and provide an idea concerning the product or service provided. Depending upon the type of business you choose, there may be legal requirements for certain words that your name must include. Businesses in the same state cannot have the same name. Each state has an online service to verify which business names are already taken. Be sure to state the name of the State Agency where you verified availability in your paper. Check for business names with similar spellings. Check to see the status of those businesses.
2. What products, services or both will you provide? What factors do you believe will lead to success and why? Will your business be a niche business?
3. Where will your business be located? Will you operate from home, from a commercial building, or elsewhere? 4. What contracts are needed prior to opening your doors for business? Why are these contracts important to your selected business? Identify five (5) different contracts into which your business will need to enter so that your business can get started. In your description, include the purpose for each contract (e.g., secure a good or service, protect against liability, mitigate a risk).
5. What Legal Form of Business Will You Organize? State which legal form of business you will organize and why the type of organization is appropriate for your business.
6. What steps do you need to take to organize? Describe the steps you need to take to establish the legal form of business that you selected. Are there other steps that you need to take, such as filing a Fictious Name Certificate? Describe those steps as well.
7. What will your management or organizational structure be? How does the structure you chose fit the legal requirements for the business form you selected? How does the structure fit your business purpose?
8. How will you capitalize your business start-up? Name two forms of capitalization methods. Be sure that the sources are legal. Explain how and why they are viable sources of funding.
9. Based upon the legal form of business you selected, how will you protect yourself or others from personal liability for the debts or liabilities of the business?
The name of business and type of business I will leave it to writers own choose, but please pick something simple. Business will be located in state of Illinois