A. (20 points) You are about to start a business (you pick the type of business). Spend a paragraph describing the business. Then, discuss the type of business organization you would choose for your business. In discussing why you have chosen that particular type of business organization, please be sure and describe the reasons for your selection, including the pros and cons over other available, alternative types of business organizations, and how the choice of business organization would help you to achieve your short- and long-term business goals. Then in a paragraph or two, discuss the issues we covered early in the class regarding what might be included in a business plan and what considerations should you take into account when starting a business.
B. (20 points) Next, assume that you will be very successful in your first 5 years of business and that to expand and grow your business, you will need anywhere from $10 million to $100 million to fund your operations during your next 5 years of operation. Describe how you plan to raise the money (getting a loan from a bank for $100 million will not get you many points), and what you plan to do with the money if you are successful in raising it. Consider the securities law ramifications of your decision, if any.
C. (20 points) In addition to yourself, assume that you will also need to hire at least two people full-time, one to be your Chief Operating Officer and one to be involved in telephone sales, in addition to all of your other employees. The applicants for the job are:
– a religious Jewish man who will not work on Friday nights and Saturdays,
– a man who is a recovering alcoholic and is currently in an alcohol recovery program that meets Tuesday and Thursday evenings,
– a man who is confined to a wheelchair,
– a man with tattoos and body piercings on/in his face who claims that they are required for religious observance,
– a woman who was fired from her previous job for not being able to lift heavy objects because of a disability, and
– A man who was convicted of assault and battery three different times, served his time on all three occasions, and is otherwise the perfect candidate for one of the open positions
Your initial place of business was built prior to 1970 and does not meet the standards for wheelchair access required by the Americans with Disabilities Act.
In answering question C, please discuss specific requirements and considerations regarding employment law as they relate to the applicants described above. Explain why you would choose the two full-time employees from the six applicants described above, and why you would pass over the four not chosen.
