My general idea would be to suggest to the Peter and Andrew that a limited liability company is the route to pursue for their business endeavor.

by | Aug 16, 2021 | Uncategorized | 0 comments

Reply to the below discussion and also include a scholarly source in approximately 100 words.
My general idea would be to suggest to the Peter and Andrew that a limited liability company is the route to pursue for their business endeavor. Especially over that of a general partnership given that the latter does not protect personal assets. Albeit it modest, the brothers are entertaining a business in the hospitality field, which generates revenue directly through single point of contact customers. Even more risky is adding factors such as hunting rifles, freshly killed game and the occasional camping fire. Though their targeted population is likely skilled in outdoor living, it is far better to protect their personal assets rather than leave their success to chance.
Limited liabilities protect owners from many of the debts or judgements associated with the negative aspects of running a company (Easterbrook, 1985). A major caveat arises if the business owner knowingly defrauds customers or government agencies such as the Internal Revenue Service. Only then can an individual who operates an LLC be held personally responsible for judgements against their company. However, if the business owner operates an upright company, it is less likely that the company will affect their personal finances or assets.
In my opinion, Paul should be included as a co-owner of the company. LLCs are designed so that one or more individuals could operate under the covering of the liability limitation. Additionally, the brothers have the option of hiring Paul as an independent contractor rather than an employee. These options prevent Andrew and Peter from paying a little extra to Zacchaeus… apologies I mean the IRS. LLCs that hire employees require additional steps for reporting wages and such.
There are many ways ownership percentage can be derived in an LLC. It is really at the purview of the brothers to what degree they will divide the company. States generally do not determine ownership stake, but I think to start the brother would be best served if they split the company equally and reevaluate after a better idea of how labor and skills equate to revenue (Gazur, 1991).
Profits and losses will be allocated parallel to the ownership percentage. If the Peter and Andrew share equal stakes in the company, earnings should be equally distributed.
2 Corinthians 14-18 speaks to the ability or rather the inability of an individual to be yoked with someone of a different mindset. Specifically, in business it is difficult to be in a partnership with someone who does not share one’s vision. It is essentially like having a 2,000-pound bull yoked with a 200-pound baby calf, work is nearly impossible or would be so disproportionate that the one would quit on the other.

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