Step 1) Form an itemized business plan for a new limited liability company.
Step 2) Fill out pertinent State of Ohio articles of organization form for the newly planned LLC. These are available online.
Step 3) Discuss the advantages and disadvantages of the selected business structure, LLC, in a short, 2 page essay, observing requirements above. This step requires that you discuss the advantages and disadvantages of organizing your business as an LLC, not whether it is a good idea to start a restaurant, or a spa, or a bar. Check out chapter 18 in your text.
Step 4) Discuss possible federal or state agencies and/or regulations the new LLC may encounter, in a short, 2 page essay, observing requirements above.
Step 5) Create a contract between the new LLC and the XYZ Corp. There is a good example in your textbook starting on page 278.
Step 6) Finally, discuss if the UCC is applicable to the new LLC, in a short, 2 page essay, observing requirements above. Selected sections of the UCC are in the back of your text in appendix C.
Please note that each of steps 3, 4, and 6 require a separate two page essay, for a total of 6 pages of your original thoughts based on the reading of the textbook that you have done, and other resources you may choose to consult, observing requirements above. Failing to observe the two-page minimum limit for each essay will result in lost points for that step. Failure to label each step will result in lost points for that step. Failure to identify your work with your name and the full legl 2064 course number will make it impossible for me to assign a grade to your work.
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