Give a written report that contains the following information about your new business: a. Name of your company/business

b. Be sure to use the proper ending in your name to show your type of business entity, e.g., corporation, LLC, LLP, etc.

c. State in which you are forming your business d. Brief description of what your business does

e. Explain why you selected the type of business entity you chose

f. This explanation should be based on independent research that compares various business entity types

g. At a minimum, you should discuss the following issues:

i. Ease and cost of creation (you should be able to determine this at the secretary of state's website for the state in which you plan to establish your business)

ii. Owners and ease of transferring ownership interests iii. Liability iv. Duration

v. How will profits be taxed

Your operational document should address the following topics, but may include other subjects you think are important for your business: a. Describe the business managers/officers with subtopics concerning number of managers, how they are elected, how they are removed, and duties b. Meeting schedule for owners and managers with subtopics concerning when notice of the meeting must be sent, whether actions can be taken without a meeting (explain how), and the quorum and voting requirements for a meeting c. General provisions related to the following topics: i. Who must sign company contracts and checks ii. Policy concerning gifts to various stakeholders iii. General employment safety policy iv. General environmental policy v. Statement concerning ethical behavior, decision making, and social responsibility of the company owner(s), manager(s), and employee(s)