write 400600 wordsthat respond to the following questions with your thoughts ideas and comments. Be substantive and clear and use examples to reinforce your ideas.
Part 1 (Post this response in the main U4 DB thread Unit 4 Discussion Board)
As you reflect on your time at Phishy Pharmaceuticals you decide it is time to move on with your career. You have always wanted to start you own restaurant business and be an entrepreneur. As an entrepreneur you must decide whether the business should operate as one of the major forms of business organizationsole proprietorship general partnership limited partnership limited liability partnership limited liability company or corporationor under other available legal business forms. Your selection depends on many factors including the ease and cost of formation the capital requirements of the business the flexibility of management decisions government restrictions personal liability tax considerations and the like. Youmust choose one of the major forms of business that is best for your business. (For this assignment you should not choose a sole proprietorship for your business entity.) In your initial Discussion Board post you must address each of the following:
Part 2 (Post this response in the appropriate topic within U4 DB [labeled FOR and AGAINST])
After researching the different legal business entity options for your restaurant you have decided to operate as a C corporation.
Based on the first initial of your last name complete the following:
Case Example: Phishy Pharmaceuticals is a corporation that recently kicked off the sale of its new weight-loss pill Lose It Fast. After 3 months of sales the management team has received some troubling reports of some unanticipated side effects caused by the pill. The management team asks the accounting department to run some numbers to determine how much it would cost to recall Lose It Fast to suspend manufacturing and to conduct more tests to determine the pills safety and other possible side effects.
After running some numbers the accounting department states that it would be more cost-effective to leave the product on the market shelves and propose settlement proceedings with anyone who is injured and initiates a lawsuit.
The corporate attorney has advised that the product’s packaging states thatthe pill is not FDA-approved and says off the record thateveryone who buys a weight-loss product knows there are some risks involved so it is likely that the majority of injured consumers will not initiate a lawsuit.
If you recall the product it will result in a delay of dividends paid to shareholders a loss in revenue affecting shareholder profit and possibly your job as CEO.