You are a consultant for a client who wholly owns a business called Bistro, a popular caf and bar located in historic downtown, Arizona. Your client also inherited a significant sum of money that is invested in several business entities, including publicly traded companies. Over the course of the fall season (into the winter), your client has had several questions. Some of the questions relate to your client as the owner of the caf. Others relate to other business issues the client is experiencing. Those different issues are found on the next page

For each scenario, briefly address the following:

What laws would you use in assessing the situation? What is your sense of the "right" thing to do in the situation? What steps should the client take at this point? What are the risks (if any) of failing to act?

Step 1: Your client owns several shares of stock in a privately held company called Flag Beauty Shop, a local close corporation that makes and sells lotions, soaps, and other products with unique scents, flavors, etc. This is a very popular type of business. Your client is afraid that some bigger company is going to come in and try to convince the other owners to sell their shares to it so it can take over. Your client is interested in some strategies to discourage such activity.