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The following persons have come to you for legal advice based on what they would like to achieve in their intended businesses. Please advise them
The following persons have come to you for legal advice based on what they would like to achieve in their intended businesses. Please advise them as to the most suitable legal entities/legal options available. (Some scenarios may have more than one business option available). You must be sure to fully justify your answer (explaining why you have suggested a particular business option or more than one business option, and also why you did not choose the other business option(s)). It is stressed that you must fully discuss the matter so that you can achieve the best grade: (Remember to study all course material provided for this topic) (a) Three commercial lawyers, Nadine, Tamia and Sandra, propose to start a business together. They intend to share their profits and losses in accordance with the client lists and cash investments. They will have two office clerks and an office manager. At any given time, at least 1 lawyer will be in office to cover client needs. Advise as to the business option(s) available to them and fully explain why. (15 marks) (b) Kendra wishes to start a restaurant and bar business. She will have 2 cooks, 1 bartender, 1 cashier, an accountant and a delivery guy. She is concerned about liability if anything goes wrong in the business. She is also concerned about what will happen to the business after she dies. Advise as to the business option(s) available to her and fully explain why. (15 marks) (c) Sharmela, Joycelyn, Kamaar, Kyle, and Bevicia are all pharmacists. They have just graduated from university. They want to start a business but they do not have much money. They plan to focus on research and manufacturing of natural products made from Caribbean plants. This business will be subject to government regulation, and there will be extensive trials, documentation and consumer testing. There will be liability issues for negligence cases if any consumers are injured. The pharmacists are also considering investors for the business. Advise as to the business option(s) available to them and fully explain why. (15 marks)
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