PART 1 UPDATED ADOBE SPARK BROCHURE

Initially when you set-up your business, you did not know if it was going to succeed, so you set it up as a sole proprietorship. After several months success you revisit that decision. You take into account the following details:

• You own a cottage and have $250,000.00 in savings
• You have a day job earning $150,000.00 per year

Now that your business is a success, you want to do two things:

1. Retain someone to do all your marketing, sales and corresponding contract negotiations
2. Do more to further your business sustainable development goals. You reach out to a not-for-profit to find a way to work together to further those goals

Please update your existing Adobe Spark Brochure to include the following:

• A brief explanation for why it made sense for you to start your business as a sole proprietorship. Your answer should reference at least two benefits of a sole proprietorship (2 marks)
• Identify which business form (sole proprietorship, partnership or corporations) might be the better option now (1 mark)
• A brief explanation for why that business form (sole proprietorship, partnership or corporations) might be the better option. Your answer should reference at least two benefits of that business form (2 marks)
• Identify the business form(sole proprietorship, partnership or corporations) that you would use to retain the person/business to do your marketing, sales and corresponding contract negotiations (1 mark)
• The marketer enters into a contract on your behalf. But it is for less money than you instructed him to agree to. Do you have to honour that contract with the third party? Why or why not (2 marks)
• Identify a (real) Canadian not-for-profit that you could work with to further one or more of your sustainable development goals (1 mark)
• Identify the business form(sole proprietorship, partnership or corporations) that your business and the not-for-profit would choose to operate in order to work together to advance your sustainable development goals (1 mark)