Please note this requires you to understand the different types of ways businesses organize their relationships with other organizations.
My business https://express.adobe.com/page/6TmgM93BogKXo/
Initially when you set-up your business, you did not know if it was going to succeed, so you set it up as a sole proprietorship. After several months success you revisit that decision and wonder if there is a better business form that you should switch to. You take into account the following details:
• You have personal assets including a beach house and $150,000.00 in savings
• You have a day job earning $90,000.00 per year
Now that your business is a success, you want to do two things:
• Find a real estate agent to find you new premises
• Find a not-for-profit that your business can work with to further your sustainable development goals (SDGs)
You and your partner will answer the following questions in writing in your Adobe web page:
• A brief explanation for why it made sense for you to start your business as a sole proprietorship. Your answer should reference at least two benefits of a sole proprietorship (2 marks)
• Identify which business form is the best option now in light of your business’ success, personal assets and income from your day job (1 mark)
• A brief explanation for why this new business form is the best option. Your answer should reference at least three benefits of that business form given your business’ success, personal assets and income from your day job (3 marks)
• Please note in order to answer this, you must understand each of the different business forms, who is permitted to form them, and the pros and cons for each
• With reference to course material only, explain how your agency relationship will work with the real estate agent (2 marks)
• Identify a real Canadian not-for-profit you could work with to further one or more of your sustainable development goals. Your answer should include how you could work together to further your SDG (3 marks)
• Please choose a real Canadian not-for-profit that works to meet/reflect/further one of the SDGs that you chose
• Please imagine a NEW project or an initiative that you and your chosen not-for-profit can work together on to meet your chosen SDG, and provide a brief description of that project or an initiative.
• Identify and explain how the Sale of Goods Act applies to your business (2 marks)
• Explain why or why not the Electronic Commerce Act, 2000 applies to your business (2 marks)
Part2
You and your partner will meet with me to have a ten-minute discussion about business forms. You can expect questions about:
• What are the consequences for the owner if the business is unable to pay its debts and liabilities?
• Does the business form you chose to change to protect the owner’s personal assets? Why or why not?
• Agency, including:
• The role of an agent
• What happens if the real estate agent makes a deal with a landlord that goes against your instructions – who is liable? Do you have to honour the agreement made by the real estate agent on your behalf? Why or why not?
• How your relationship with the not-for-profit you chose should be organized and why
• Please note this requires you to understand the different types of ways businesses organize their relationships with other organizations. This is not about hiring the not-for-profit, or starting a partnership or a separate corporation with them. Instead, there is a specific way they can join forces to further their goals – so you need to be able to identify that and explain why it is appropriate
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