Question 1: Is there any legal consideration I have to consider for Morfai, a hotpot restaurant aiming to establish itself in UK? If so please clarify and help me with this. Question 2: I am struggle on the part of Construction Agreement, Employment agreement, Service and Supplier Agreement, Copyright and Trade Secrets, Licensing Agreements, NDA sections. Can you help? if you also give me some ideas that would be great. Question 3: I don't have format for Non-disclosure agreement and not even sure how to write one for employing people to do R&D and Logo designing if you can help with that, that's great.

Question 4: What legal actions should I or wil I need to consider as the business progresses? (For Morfai)

Question 5: What legal decisions should I made/have to make to mitigate risk? (For Morfai) Question 6: Reading my report, is there anything specific I can improve up on? Assessment brief

• The assessment requires you to apply your knowledge and understanding of commercial risk and business law in the context of your own business, and that of a commercial scenario.? You are expected to explore and use relevant literature in your work to support and be critical.

This module is assessed in two sections; an evaluation of the legal considerations of your own business or an enterprise of your choice, followed by a response to a commercial scenario.?

Section1. Legal considerations of your own business or an enterprise of your choice

This is in reference to your own business/start-up, or if you don't have one, an enterprise, preferably in the start-up phase, of your own choice. What legal decisions have you made/have to make to mitigate risk??And what legal actions have you or will you need to consider as the business progresses?? You should consider;

-???????the legal structure of your business;

-???????the legal agreements required;

-?????? Intellectual Property and how you intend to protect it;

-? ? ? ?Potentially operating Internationally.? Hotpot/Shabuu Restaurants: Morfai

PART A:

Introduction

Hotpot restaurants hold a special place in Asian culture, transcending mere dining experiences to become cherished traditions embedded in the fabric of society. Originating centuries ago, hotpot has evolved from a humble communal meal to a beloved culinary ritual celebrated among family and friends. This is how MORFAI, an ambitious business project to open a hotpot restaurant at Exeter in United Kingdom started. Aiming to establish itself as one of the prominent hotpot restaurants at Exeter, this report thus will delve into legal foundations, decisions, and consideration that MORFAI enterprise should consider as a start-up to ensure that the enterprise progress smoothly and risks are mitigated according to United Kingdom law.

Business Profile:

• Hotpot restaurant
• 2 founders, alumni from University of Exeter
• Is a start-up in a nascent stage.
• Import raw materials like meats from Thailand.

Legal Structure:

Legal Structure Selection:

MORFAI has chosen to operate as a limited partnership (LP), a specific form of partnership that offers certain advantages and protections for its partners. According to Whittaker (2015), a limited partnership consists of two types of partners: general partners and limited partners. General partners have unlimited personal liability for the debts and obligations of the partnership, while limited partners enjoy limited liability protection, shielding their personal assets from the partnership's debts and liabilities (McDermott & Goudkamp, 2016). This distinction in liability is a key feature of the limited partnership structure and aligns with MORFAI's objective of mitigating personal liability risks for its partners.

In a study by Spangler (2012), it was noted that limited partnerships are often favored by businesses looking to combine the advantages of partnership structures with limited liability protection. This legal arrangement allows MORFAI to benefit from the flexibility and collaborative decision-making inherent in partnerships while safeguarding its partners' personal assets from potential business risks. Additionally, Ridgway and Gammie (2017) emphasized the importance of a well-drafted partnership agreement in defining the rights, responsibilities, and obligations of each partner within a limited partnership. By establishing clear guidelines and protocols through a comprehensive partnership agreement, MORFAI can ensure smooth operations and minimize potential conflicts or disputes among partners.

Nominated Partner and HMRC Compliance:

The role of a nominated partner in a partnership or LLP is crucial, especially in the context of UK tax law. This individual acts as the primary contact with His Majesty's Revenue and Customs (HMRC), responsible for filing the partnership tax return and ensuring that the business meets all tax obligations (HMRC, 2024). This system streamlines communication and compliance, making it easier for businesses to adhere to tax regulations. However, it also places significant responsibility on the nominated partner to maintain accurate records and report income, expenses, and profits correctly (Jones, 2015).

Funding:

Funding is a crucial pillar for the establishment and growth of any business, serving as the financial bedrock upon which all operational, developmental, and expansion activities are built. In the context of a startup like Morfai, where partners have agreed to contribute a significant initial investment, the manner in which these funds are allocated and managed becomes paramount. This initial capital injection of 500,000 will cover essential startup costs, including premises leasing, renovations, procurement of raw materials, and other foundational business setup expenses. Beyond serving the immediate needs, this funding is a testament to the partners' commitment and belief in the business's potential. It also sets a financial precedent for the business, emphasizing the importance of strategic planning, budget management, and financial accountability. As the business evolves, the approach to funding may diversify to include external financing options such as loans, investor funding, or grants, each carrying its own legal and financial implications. Thus, the initial funding not only kickstarts the business operations but also lays the groundwork for a structured, strategic approach to financial management and growth planning.

WASHETERIA Drycleaners & Laundrette SPORTS KITS COUVIRY CURTAINS PRESSING SERVICE WASH IRONING COLLECTION DUVETS\f4 Choices of Sauce FOR MORFAI Mixing with our unique ingredient we created our own sauces to make sure the customer enjoy hotpot experience