PLANNING FOR A NEW BUSINESS

After graduating from Okanagan School of Business, four friends:Kellie, Canadian Aboriginal heritage with a marketing specialty; Carolina, from Brazil with an accounting specialty and Ranjit, from India with an HR specialty are planning to open a business together with equal interests.A fourth friend, Joe Smith, who is a realtor, wishes to invest $50,000.00 in the business but not participate in the day to day operation.

The name of the Business will be "Bottoms Up Bar and Grill" using the name on their sign, menu and app for ordering take out as well as the following logo.:

The bar and grill will feature grilled food specialties from each of the four owners:

Bannock Buffalo wrap for Kellie

Picanta barbeque chicken and beef for Carolina

Navratan Korma, a vegetarian dish for Ranjit

The Hunk Burger for Joe

1.What are the best options for the four in setting up this business and how should they protect their individual interests?

2.What are the pros and cons of each option that you have discussed

3.How would they protect the name of the business and logo?

4.What should Ranjit, as the Human Resources director be concerned about when training the staff of Bottoms Up Bar and Grill?

5.What should the four put in place to protect themselves against potential lawsuits?