Prepare a report on the following: Part 1: Discuss the role of the corporate secretary in facilitating effective governance in a limited liability company. Include the relationships with directors, shareholders, and other officers. Part 2: Compare and contrast two characteristics of different business entities (sole trader, partnership, and limited liability company). Use examples to recommend the most appropriate type of business entity for the scenario below: Scenario Background Alex, Taylor, and Jordan plan to collaborate to launch a tech startup focused on developing and selling innovative software solutions. Each individual brings unique skills and resources to the venture: Alex: A skilled software developer with technical expertise and a vision for the product. Taylor: A marketing professional with extensive connections in the technology industry, aiming to drive sales and build the brand. Jordan: An investor willing to contribute significant financial resources but prefers a passive role, with limited involvement in daily operations. Objectives and Concerns Liability Protection: All three individuals are concerned about protecting their personal assets from potential business liabilities, such as debts, lawsuits, or product issues. Profit Sharing: They want a fair and transparent mechanism to distribute profits based on their contributions (financial or otherwise). Decision-Making: Alex and Taylor want to actively manage the business, while Jordan seeks a passive role with limited decision-making responsibilities but expects to retain ownership rights. Scalability: The business should be structured to attract future investors and expand easily as it grows. Legal Compliance: They seek to ensure compliance with legal and regulatory frameworks while maintaining operational flexibility. Part 3: Identify and explain the legal and regulatory frameworks governing companies in your jurisdiction. Provide examples of compliance and non-compliance cases, assessing their outcomes. Suggest best practices for ensuring compliance.

Prepare a report on the following: Part 1: Discuss the role of the corporate secretary in facilitating effective governance in a limited liability company. Include the relationships with directors, shareholders, and other officers. Part 2: Compare and contrast two characteristics of different business entities (sole trader, partnership, and limited liability company). Use examples to recommend the most appropriate type of business entity for the scenario below: Scenario Background Alex, Taylor, and Jordan plan to collaborate to launch a tech startup focused on developing and selling innovative software solutions. Each individual brings unique skills and resources to the venture: Alex: A skilled software developer with technical expertise and a vision for the product. Taylor: A marketing professional with extensive connections in the technology industry, aiming to drive sales and build the brand. Jordan: An investor willing to contribute significant financial resources but prefers a passive role, with limited involvement in daily operations. Objectives and Concerns Liability Protection: All three individuals are concerned about protecting their personal assets from potential business liabilities, such as debts, lawsuits, or product issues. Profit Sharing: They want a fair and transparent mechanism to distribute profits based on their contributions (financial or otherwise). Decision-Making: Alex and Taylor want to actively manage the business, while Jordan seeks a passive role with limited decision-making responsibilities but expects to retain ownership rights. Scalability: The business should be structured to attract future investors and expand easily as it grows. Legal Compliance: They seek to ensure compliance with legal and regulatory frameworks while maintaining operational flexibility. Part 3: Identify and explain the legal and regulatory frameworks governing companies in your jurisdiction. Provide examples of compliance and non-compliance cases, assessing their outcomes. Suggest best practices for ensuring compliance.

Principles of Management

OER 2019th Edition

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax

Chapter7: Entrepreneurship

Section: Chapter Questions

Problem 5CRQ: Why is it important to develop a business plan? What should such a plan include?

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