Assignment:
Then format/ organize the paper as follows:
• Introduction heading section explaining the purpose of the paper. (e.g. The purpose of this executive business decision paper is to select a business organization entity that Hawknet Sky Security will be operating under that best fulfils the owners stated goals and issues.)
• Background heading section regarding the business that is the basis for this decision.
• Insert a Pros and Con Table listing all potential business organizations (business entities--- Partnerships (General, LPs LLPs, and LLLPs), Sole Proprietary, Corporations and S Corporations, and LLC) and have a pros and cons column associated with each of the Syllabus' Project II factors and issues. A table of the characteristics of the different business organizations is in the Book at Figure 37.1
• An Analysis heading section discussing in a narrative manner the analysis that leads the decision maker to understand the reasoning in supporting your conclusion.
• A Conclusion heading section on which business organization you have concluded to create.
You have been operating out of your parents garage your sole proprietorship doing business as (DBA) HawkNet Sky Security, and now with a growing number of work orders for your Drone security airborne surveillance platform and added financing, increase liability exposure, increase revenues resulting in greater taxable income, increase in employees, and inventory you must first decide whether you wish to continue to conduct your business as a Sole Proprietary or elect another Business Organization structure such as Partnership (General, LP, LLP, LLLP), or Limited Liability Companies (LLC), or incorporate as a Corporation (including S-Corp)). This assignment requires that you draft an executive business Decision Paper explaining the pros and cons of these Business Organizations and select the one business organization entity that best fits and addresses the following factors and issues:
• You wish to separate and limit your (and any other owners) personal liability from claims and suits arising from this business.
You want to avoid the potential double income taxation of the owner(s) and the business entity.
• You want to avoid or limit the formalities associated with registering filings and reports to the securities regulatory agencies, avoid annual owner's or shareholders meetings, and elections of company officials.
• You want to have direct management control of the business without answering to a separate board or shareholder oversight.
• You want to limit ownership to a small number of persons (e.g. family members.)
• You want the business to continue even if you transfer your ownership interest or even if you die.