The process of starting a business is extremely time‐consuming. A successful entrepreneur is aware that careful attention to legal issues is an essential component of success, even if they do not contribute directly to the bottom line.
Brady Olsen and Rasheka Jones have a great idea to open a shop selling recycled playgrounds made of tires, in Chandler, Arizona. Brady and Rasheka believe there is a demand for their product in that area of the State. They want to form a Limited Liability Company called, “Big Bounce, LLC.” Brady and Rasheka have already signed a lease for a facility, and have the equipment ready for production.
In order to form a domestic limited liability company, one or more persons must execute a Articles of Organization. Articles of Organization, are obtained from the Secretary of State.
Your project is to:
1. Review Steps to Starting a Business on the https://www.azcc.gov/corporations/ten-steps-to-starting-a-business-in-az website.
2. Locate a form Articles of Organization, or you may use the one here : https://www.azcc.gov/docs/default-source/corps-files/forms/l010-articles-of-organization.pdf
3. Complete the Articles of Organization form for “Big Bounce, LLC” (feel free to use fictitious information for street addresses and other data fields) Then determine and answer the following questions regarding next steps:
What is the process for getting the Articles approved?
What other things should Brady and Rasheka do before filing for their LLC?
What are the filing fees?
What information do you need, if any, before you file the Articles of Organization?
What other documents do you need, if any, to properly form the LLC?
-please review and use this week’s materials for your reference.
This week’s materials are attached and down below:
https://saylordotorg.github.io/text_law-for-entrepreneurs/s23-relationships-between-principa.html
https://saylordotorg.github.io/text_law-for-entrepreneurs/s24-liability-of-principal-and-age.html
