Discussion Question 1
The legal aspects of starting a business can be more involved than just filling out a form or two, paying your fees, and opening the door. Licenses and permits are sometimes called hidden costs because they originate from local governments in the form of regulations, and not laws. The difference between a regulation and a law is who makes it. A regulation is normally generated from a regulatory commission, such as zoning, planning, or highway, whose members are appointed or hired. However, laws are made and enacted by elected officials.
Suppose you are the owner of a coffee shop. In your opinion, what are the various licenses and fees, such as the sound permit, sign permit, and sidewalk sale permit, that your local areaâ€™s regulatory agency might assess? Provide a rationale to support your answer.
Support your answers with examples and reasoning. Comment on the postings of at least two peers.
Discussion Question 2
You want to open a bookstore as a sole proprietorship. You are married and have three kids under the age of ten years. Your wife is totally in favor of the business and wants to help you in all the ways she can. However, during the start-up process, a legal issue regarding the ownership of the business and whether you need special paperwork, such as a detailed will, in the event of your death comes to light.
- Who would be considered the owner of the bookstore: you, your wife, or both? Why?
- In the event of the ownerâ€™s death, will the business close, continue, or change its name? Why?
- Do you agree or disagree about whether the surviving party, in case of the ownerâ€™s death, needs to reorganize or file new legal ownership papers? Why or why not?
- In case the ownership is transferred to another individual, what does the present employer need to do in case he or she wants to change the name of the business? (Hint: For information, you can contact your local areaâ€™s county clerk.)
Both discussion questions need at at least two resources in APA format.