BUILD A BUSINESS PROJECT BUSA 2106 Legal and Ethical Environment of Business Professor Grelecki SYNOPSIS This semester you are going to lay the groundwork for starting a new business The goal of this exercise is to walk you through many of the considerations a new business owner faces from inception to day to day operations from a legal perspective This will involve multiple papers considering various aspects of your business from a legal perspective which will ultimately turn into a legal analysis and risk assessment ASSIGNMENTS Below is the breakdown of assignments which will result in your ultimate analysis The Preliminary Paper Outline is meant to force you to think strategically from a legal perspective about particular issues facing businesses as discussed in class It also gives you an opportunity to learn how to conduct the appropriate analysis prior to completing the final comprehensive paper Ultimately you will use the Preliminary Paper and a final set of analysis of issues to piece together the Final Paper Accordingly you will be able to flesh out the details of the first paper in the Final Project Paper addressing specific issues with educated and knowledgeable detail based both on information obtained throughout the semester and my feedback on your preliminary paper You will however be required to conduct an analysis of the concepts covered in the final third of the class on your own in the Final Paper The point of this project is to illustrate how essential it is to conduct business from a place of full information as much as possible I fully expect that you will use the information supporting and contained within the Preliminary Paper to start your Final Project Paper however it should not be a mere cut and paste job You should edit and revise the materials in order to create a comprehensive analysis addressing each of the questions from the perspective of one who has attended lectures regarding and studied up on each of the topics Your grade will be a function of your ability to distill the facts surrounding your business and industry recognize and analyze the legal issues existing in that environment and develop an assessment that identifies and addresses that intersection of business law risk and ethics Preliminary Paper Outline Paper 1 Ethics Risk Entity Formation Contracts Intentional Torts This paper outline will answer the following questions a What type of company are you starting and in what industry is your company going to operate b What will you offer goods services both and who are your customers target market c What risks are associated with this type of company specific to your industry and associated with the goods services you will offer d What are the ethical considerations with this type of company in this type of industry and offering these goods services e Where are you going to set up your company city and state and why f What form will your company take i e Sole Proprietorship Partnership LP LLP LLC Corporation g Why did you choose the particular corporate form What are the pros and cons of your chosen form h With whom will your company need to enter into contracts vendors customers service providers etc i Describe the circumstances under which someone could claim your company committed an intentional tort Think about all of the intentional torts we discussed in class and consider any possible scenarios under which someone could make a claim regardless of whether or not you think your company would actually be liable Final Paper This paper NOT outline will re address the previous concepts perhaps misapplied in the Preliminary Paper applying the knowledge and information gained throughout the semester and address new topics covered in class since submitting the Preliminary Paper The paper should be organized based on the outlined sections provided below but presented in full sentences and paragraph form Again I fully expect you to utilize the information presented in the Preliminary Project Paper in order to get started on the Final Project Paper however I also expect you to more fully develop your analysis in each of the areas now that you have had an opportunity to learn about and study the appropriate legal topics Remember to think about this from the perspective of a business owner who is now fully informed in a variety of areas of law I II III IV V Introduction a What is the name of your company b What type of company are you starting c In what industry is your company going to operate d What will you offer goods services both e Who are your customers target market Risks and Ethics a What risks are associated with this type of company specific to your industry and associated with the goods services you will offer b What are the ethical considerations with this type of company in this type of industry and offering these goods services Entity Formation a Where are you going to set up your company city and state and why b What form will your company take i e Sole Proprietorship Partnership LP LLP LLC Corporation c Why did you choose the particular corporate form What are the pros and cons of your chosen form Contracts a With whom will your company need to enter into contracts vendors customers service providers etc Intentional Torts Negligence a Describe the circumstances under which someone could claim your company committed an intentional tort Think about all of the intentional torts we discussed in class and consider any possible scenarios under which someone could make a claim regardless of whether or not you think your company would actually be liable VI VII VIII IX X b What standard of care must your company exercise What if any additional heightened special duties will be owed by your company and to whom will they be owed c Describe the circumstances under which someone could assert negligence claims against your company Product Liability Warranties a Will your company offer any express warranties or be subject to any implied warranties Why or why not b Describe you company s exposure to any potential product liability claims Agency a Who will have authority to act on behalf of your company b Explain the risks associated with each such agent or type of agent Employment Discrimination a Analyze your company s exposure to employment discrimination claims b What defenses could your company assert to any such claims of employment discrimination Intellectual Property a What type s of intellectual property will your company have or produce