I need to examine the three most appropriate forms of business for my venture, including the legal advantages & disadvantages of these forms as well as an evaluation of the six factors: (1) creation and maintenance, (2) continuity (3) ownership and control (4) personal liability (5) compensation & division of profits and (5) taxation. I have analyzed the limited liability company with the six factors.I require assistance with selecting two other entities and doing the same.

I have selected the limited liability company; however, i do not believe that this is the best choice. I am unsure of what the other entity would be to best suit this venture.

Slide 2

The objectives of the organization are to create 3 different types of charging classes:

Compact class of products are perfect for charging devices with low-power needs such as cell phones, mp3 players, headlamps, and more

Mid-Size class of products are perfect for charging devices with low or medium power needs such as tablets, laptops, DSLR cameras and more

Heavy-Duty class of products are perfect for charging devices with low, medium, or high power requirements such as TVs, small refrigerators, CPAP machines and more

Every new and existing business needs to be prepared for legal issues that may arise and or occur when owning and operating a business.Understanding, identifying, and addressing these issues in advance can help minimize liability that may occur in a business setting.

Slide 3

The name selected for my business venture is Sol-Energy. I selected to name it like that because it will offer solar chargers for most of the devices used inside company buildings and while on the road. Sol-Energy is a solar energy-fueled charger that charges a variety of products on the go, including cell phones and other electronic devices.

Slide 4

Mission

To provide the highest quality cost effective renewable energy power products and services to customers that are interested in reducing energy costs and carbon footprint.

Vision

Together, let's choose a more responsible way to power our lives: Let's go solar. Our planet is our legacy, and there's only one. The extensive use of fossil fuel energy has caused irreversible damage. The more we wait, the worse it will get.

Slide 5

President/General Manager: responsible for building a strong top team and getting personally involved with all employees. In charge of site origination, site control negotiation, project permitting, utility interconnection, and tax agreement negotiation.

Administration team: supports the work of office departments. They will perform clerical duties, such as facilitating communications, keeping records, booking travels, ordering office supplies and setting appointments.

Human resources: responsible for recruiting and hiring employees with specific skill sets to meet the company's current and future goals, coordinating employee benefits and suggesting employee training and development strategies

Finance Team: will consists of accountants managing money.Functions will include planning, organizing, auditing, accounting for and controlling its company's finances. The finance department will also produce the company's financial statements. A delegated Finance lead will report to the general manager, when needed.

Marketing and Sales Team: functions will include research and development, pricing, distribution, customer service, sales and communications; to maintain its customer base, sales and marketing takes responsibility for making sure buyers are happy, as well as trying to upsell them.

Solar Power Engineering:this team is the brains of the organization and are responsible for high level solar proposals, plan sets, and supporting documents. Effective communication with project manager to facilitate project permitting and other initiatives.

Production line- Will oversee production, packing.In addition of connecting the racking and solar array, loading and unloading equipment and loading or unloading Solar panels. General cleanup and clearing of debris, including sweeping, cleaning, washing, and unloading or burning debris.

Slide 6

The business structure we are selecting is a limited liability company (LLCs).The structure of your business is a crucial decision. According toTrembly Law Firm(2019), "A limited liability corporation, for instance, provides good protection for most small or sole-proprietorship businesses.

Slide 7

An evaluation of advantages and disadvantages has been preformed on these six factors: creation and maintenance, continuity, ownership and control, personal liability, compensation and taxation.

This type of business can be owned by a single person, a group, apartnership, or even a separate LLC (Ownership and control).

Personal liability- Although personal liability can be limited under this structure, there are still a few instances when LLC members may still incur personal liability. Baran Bulkat (2019) describes these instances, stating: "if there is no obvious separation between the business and the member, if a member personally guarantees a loan for the business, and if a member commits fraud or illegal activities". However, when acting in good faith, the limited liability company protects the members, meaning that members cannot bring harm to the business and put their personal interest over that of the company. (Quinn, J. S., 2011)

Another advantage is that an LLC has less paperwork and few ongoing requirements.

Generally, there are two ways for an LLC to operate(Maintenance): member-managed and manager-managed (Mohn, 2016).However, LLCs have some disadvantages as well such as higher cost - it's more expensive to create an LLC (Creation) because it requires registration with the state.

Taxation: A person can choose how they want the IRS to tax the LLC. They can elect to have the IRS treat them either as a corporation or as a pass-through entity, based on whichever will be more advantageous (Prakash, 2019). Another factor is (banking fees) which can be higher and that checks made payable to an LLC must be deposited into a corporate account. Lastly, business expenses must be separated from personal expenses, and the LLC must maintain its own records and minutes (Legalzoom, 2019).

Continuity: LLC promoters avoid the corporate characteristics of continuity of life and free transferability of interests

Compensation: A limited liability company "may have to pay unemployment (Compensation) for employees.

Slide 8

Which Legal issues are most important to the business

When dealing with the legal issues there are many that affect business. According to "U. S. Department Of Labors"(2019), "both the employees and company should be meeting the federal minimum wage as to what the employees are making and making sure that the employees are recording their hours and wages correctly so that they are also following the federal laws " (Work Hours).

Disgruntled Employees

As a business owner, this will be one of the most common legal headaches. In America, employees have far more rights than other countries, in the form of unions and reasons for "wrongful termination". If you terminate a non-performing employee, make sure he or she signs documents carefully drafted by an attorney upon termination to make the terms of dismissal crystal clear. Letting an employee go without any final termination forms leaves the door wide open for legal actions.

Copyright and Patent Issues

Cutting edge companies in the tech industry often face aggressive patent litigation. Companies often sit on patents for years, hoping that another company inadvertently violates them, to get easy money through patent and copyright lawsuits.

Dissatisfied Customers

Customers who are dissatisfied can file class action lawsuits against your company, in which they gather in large consumer groups and attack your company over faulty products, services or promises

Discrimination/Harassment Cases

The legal ramifications of alleged discrimination - sexual, ethnic, age or otherwise, can cause your company serious problems. Make sure your human resources and legal departments are well equipped to handle these issues should they arise. During the hiring process, make sure you are prepared with all the applicants' resumes should allegations of discrimination arise, to prove that you hire the most qualified individuals, regardless of gender, ethnicity or age.

Slide 9

How will the chosen structure contribute to long-term aims of going national and international, or how it will have to be modified to achieve these aims?

We chose the structure - functional with agile methodology is flexible. The products can be offered nationally, as well as, internationally. If the business is successful another production line could be opened in a different country. A business can also open a new department - channel management which is a "process where the company develops various marketing techniques as well as sales strategies to reach the widest possible customer base" (Economictimes, 2019). This department also tests the market while cooperating with different partners that can be based internationally. Experts working closely in an interdisciplinary environment generate a positive business. Moreover, agile organizations mobilize and respond to market changes quickly.

Slide 10

Outsourcing legal department

Nevertheless, for this business it would be beneficial to outsource law department.

Some of the benefits are lower overhead costs - no need to hire expensive permanent staff. Moreover, outsourcing helps to contact even senior attorneys whenever there is a need. Besides, that these experts have access to paralegals, associate attorneys, and support staff who help them with their clients. That assures convenient access to all the legal advice a business might need (litigationservices.com, 2019).