LEGL2064 Legal Environment of Business

Google Business Plan:

Happy Moments Coffee is the new business plan for the company. It will serve people coffee, snacks, beverages and a soothing, comfortable ambience which will help them to relax.

This business falls into the section of food and accommodation of Google business plan. It is true coffee and snacks are not the necessary items of food, but in United States there are many people who have sufficient money to spend those in luxury. Due to this reason this business can bring a good amount of profit to the company.

• If the company would like to receive important notices via email from the Ohio Secretary of State's office regarding Business Services. - YES
• If the company would like to be signed up for our Filing Notification System for the business entity being created or updated by filing this form. This is a free service provided to notify you via email when any document is filed on your business record.- YES
  
  

Checks or money orders payable to: "Ohio Secretary of State" .Type of Service Being Requested:

• Regular Service: Only the filing fee listed on page one of the form is required and the filing will be processed in approximately 3-7 business days. The processing time may vary based on the volume of filings received by our office.-YES
• Expedite Service 1: By including an Expedite fee of $100.00, in addition to the regular filing fee on page one of the forms, the filing will be processed within 2 business days after it is received by our office. - YES
• Expedite Service 2: By including an Expedite fee of $200.00, in addition to the regular filing fee on page one of the forms, the filing will be processed within 1 business day after it is received by our office. This service is only available to walk-in customers who hand delivers the document to the Client Service Center. -YES

Expedite Service 3

By including an Expedite fee of $300.00 in addition to the regular filing fee on page one of the forms the filing will be processed within 4 hours after it is received by our office, if received by 1:00 p.m. This service is only available to walk-in customers who hand delivers the document to the Client Service Center (Mohamud et al. 2017, p. 12). Preclearance Filing: A filing form, to be submitted at a later date for processing, may be submitted to be examined for the purpose of advising as to the acceptability of the proposed filing for a fee of $50.00. The Preclearance will be complete within 1-2 business days.

Articles Of Organization For a Domestic Limited Liability Company

Articles of Organization for Domestic For-Profit Limited Liability Company (115-LCA)Advantage And Disadvantages Of Selected Business Structure

A Limited Liability Company helps owner to pass through taxation. It also provides owner limited liabilities. The liability for these types of company does not directly connect with the owner. The income of the company is not directly taxed. But the income and loss is connected with the owner and the owner also has to pay bills.

Advantages of the Limited Liability Company:

• Limited Debt:

The main advantage of LLC is its limited debt. This cannot be removed. One cannot use assets of the company holders to pay bills or debts. So it cannot be credited. It helps to limit the expenditure. Hence it is the coffee shop and the investment of daily expenses is not in a huge amount. Due to this reason the limited liabilities plan is good and helps to remain the budget in a good shape.

• Limited Members:

These types of companies does not need shareholders. A number of friends can invest or a group of member also can invest. Due to these reason it cannot be a business which needs a huge amount of investments (Thiruchelvam et al. 2018, p. 121). The salary or the shares of income is distributed to a little number of people .so if there is high profit it is beneficial for the members. If the business run in loss it can be possible to take decision fast because the number of members is few. So this is helpful strategy for this company.

• Double Taxation:

All taxes are given in personal level. The members of the company deliver taxes at their personal entity. The problem of double taxation can be avoided like this. It can decrease the amount of liabilities and will increase the profitable amount.

• Controled Number Of People:

There is no limit of number that how much members can be connected with this organization. It will help the company in such a way that in which place there is a hike in customers, more numbers of members can be added. If there is no need a fewer number of members can run the company. It also can be utilized such a way that if the profit is high and number of members is low the profit share will be a good amount for each. Where the profit is low to maintain a good some of profit a fewer number of members can be recruited for the company.

• Member’s Benefit:

The members of the company can put their assets for future in a trust.  Which company is not Limited Liabilities Company, the members in those companies also can put their assets in a trust, but it will hurt the company’s status.

Disadvantages of Limited Liabilities Company:

• Finding Investors:

Other corporations can find investor for their hugeness. Some people also buy and sell stocks from a big company (Kocev and Kocev, 2019, p. 1481). But a Limited Liabilities company has not that much of reach. Due to this reason they have a struggle in this level. They have to try a little harder from the company which is not under LLC to find the members or investors.

• Type Of Products:

If a company has a brand, an investor gets courage to invest. But if it is a startup company it will be hard for him to find an investor. one company can get an investor or not it also depends on its product. Here the company provides coffee, snacks, beverages – which are not a product which is necessary for all. So to find an investor for this company can be little bit tough.

• Type Of Business:

As per regulation all types of business cannot be started as Limited Liabilities Company. So the restriction limits the territory of the business. Medical services, banks etc is restricted. But it is not that type of business. so the company is free from that type of restrictions.

• Number Of Customers:

If a Limited Liabilities Company wants to survive for long term it should be prepare for more reach of the organizations. When the company reaches to the more number of customers, they demand a fluent and more amount of service. Due to these reason it needs a number of good investors as well as a huge amount of investments. So it must break the rules of LLC. If this company can prosper well and can increase its reach to its customer, it should also incline to the great investments.

• Company’s Future:

There can be a Limited Liabilities Company which is dependent on a particular member. If the member decides to close the company no one can stop him/her for doing that. If the member dies the company can be seized by the government. So it is good to not to start a company depending upon only one member. This coffee company is started with more than one member. Due to this reason it is free from that disadvantage.

Possible Federal Or State Agencies And/Or Regulations The New Llc May Encounter:

• The company can encounter with another food shops which will help them to receive more customers (Turner and Endres, 2017, p. 3). If Happy Moments Coffee recommends other food shop and they also recommend their customer Happy Moments Coffee the common customer they both will receive and their market chain will also increase. It will also help them to open a new branch in the city.
• The shop can connect with the government sponsors sellers of coffee seeds. The sellers will pay taxes to the government (Watson and McGowan, 2019, p. 56). This will also give a favor from the government to the company. It can be also a good opportunity to get a good investor. Besides, the government also can promote the company.
• The coffee seed sellers or wholesalers can encounter with the shop to sell their coffee. If the Happy Moments make a good profit they can give advertisement about their wholesalers (Turner and Endres, 2017, p. 3). Due to this reason many wholesaler will come to sell their coffee for getting the advertisement from the shop.
• The container maker companies also can be helping hand for Happy Moments. If the container maker company can make good container with fine and beautiful finishing, it will attract the customer more. The container maker company also can give their advertisement on the container. Due to these both of the company can draw more business.
• No one can use credit in the company. The individuals of the company can be inclines to gather assets to pay bill or debts. The assets can be bought from the government (Wilhoite et al. 2019, p. 54). It will be good for individuals because the government will be informed about the assets.
• The company pays tax in individual level. So the individuals of the company must be countered with the government tax collectors.
• There are some regulations on which the company is built up. But the time also can arrive when some regulations for LLC the government has changed. Then the company can face problem s. the only way is to change with that regulations. If it is not possible the company can be closed. So the flexibility of this company is very necessary. If there is such a time it can be change its style of business.

Contract Development 

A contract will be developed among happy moments coffee and XYZ corporation about construction of the coffee shop. This will help both the parties to make the business profits accordingly. Specifications about the process of construction will be mentioned in the contract form which will be signed by both the parties (McKenzie and Sansone, 2019, p. 102369). A written form of contract needs to be mainlined in this regard as it will be legally approved. At the same time it will be helpful for both the parties in future in case there is any kind of violation or breach. A time limit for the completion of task may also be mentioned in the form along with a proper budget for possible expenses.

Ucc And Its Relevance To New Business

Evaluating the entire context it can be stated that the UCC will applicable for the particular business. As the present business will cover all of the requirements regarding legal contexts and fulfilling of the Ohio Article application forms, it can be assumed that the particular business will be successful in the context of meeting UCC criteria in the present context. As per the rules of launching a business, a person needs to fulfil all of the UCC criteria that can be considered as the determinant of success for the particular business. UCC mainly considers several factors such as financial planning, filling of several relevant legal forms and notices regarding the right for collaborating with a secured planning (Tokarski et al. 2017, p. 17).  In the present context, the new launcher has planned to exhibit such plans that collaborate with UCC criteria in the particular setting. Evaluating the entire context it can be observed that small business needs to fulfil the UCC criteria in order to make their business legally stable (Abuabara et al. 2019, p. 7269). It has also been observed that plans related to financial aspects are found to be essential for achieving success as per the trend of contemporary times. Cost distribution along with the commercial transactions is found to be essential in the present situation in order to develop a small business in the ground of USA. Filling of UCC Criteria mainly helps new launcher to acquire a lien about the equipments of small business for exchanging loans. Filling of UCC referred as a legal form that lenders file in order to give notice to their debtors for a secured loan. Along with that it can also be stated that the particular business also requires making the business successful (McKenzie, 2017, p. 2278). There are several factors of UCC such as meeting of blanket liens; liens against specific collaterals are found to be essential in the present context. This present business also will consider the common factors of UCC for stabilizing its sustainability by meeting all of the legal criteria regarding the particular business. The new launcher has planned to take loans in order to construct the entire business by fulfilling all of the financial criteria for the particular business. In this context, the filling of UCC is required to be legally secured in the context of development of a business in a specific location.

UCC can impact the particular business positively by enhancing legal aspect stronger evaluating contemporary times. As per the concept of UCC, this particular aspect reduces risks related to legal factors in the development of small business. All of the UCC liens from last five years will be reflected on the business report (Alonso-Vazquez et al. 2018, p. 25). Thus, for making the business stable, the new launcher will need to fulfil all of the criteria of UCC in the present context. The contract law of USA depicts that the regulation of obligations are regulated by the contract law. The law of contract varies from state to state that is also considered as a salient backbone for establishing a new business in a specific location. Here, as mentioned in above step, this particular strategy will be required. Before adopting any particular approach in the present business, the management would need to make sure that all possible chances of legal complications. Legal advice from any professional in this field can also be taken in this regard. This may seem less important at present instance, but will be effective in the long run.

References

Abuabara, L., Paucar-Caceres, A. and Burrowes-Cromwell, T., 2019. Consumers’ values and behaviour in the Brazilian coffee-in-capsules market: promoting circular economy. International Journal of Production Research, 57(23), pp.7269-7288.

Alonso-Vazquez, M., del Pilar Pastor-Pérez, M. and Alonso-Castañón, M.A., 2018. Management and business plan. In The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality. Emerald Publishing Limited.

McKenzie, D. and Sansone, D., 2019. Predicting entrepreneurial success is hard: Evidence from a business plan competition in Nigeria. Journal of Development Economics, 141, p.102369.

McKenzie, D., 2017. Identifying and spurring high-growth entrepreneurship: Experimental evidence from a business plan competition. American Economic Review, 107(8), pp.2278-2307.

Thiruchelvam, V., Mughisha, A.S., Shahpasand, M. and Bamiah, M., 2018. Blockchain-based technology in the coffee supply chain trade: case of Burundi coffee. Journal of Telecommunication, Electronic and Computer Engineering (JTEC), 10(3-2), pp.121-125.

Tokarski, A., Tokarski, M. and Wójcik, J., 2017. The Possibility Of Using The Business Model Canvas In The Establishment Of An Operator'S Business Plan. Torun Business Review, 16(4), pp.17-31.

Turner, S. and Endres, A., 2017. Strategies for enhancing small business owners' success rates. International Journal of Applied Management and Technology, 16(1), p.3.

Watson, K. and McGowan, P., 2019. Emergent perspectives toward the business plan among nascent entrepreneur start-up competition participants. Journal of Small Business and Enterprise Development.

Wilhoite, J., Skelley, J.W., Baker, A., Traxler, K. and Triboletti, J., 2019. Students’ Perceptions on a Business Plan Assignment for an Ambulatory Care Pharmacy Elective. American journal of pharmaceutical education, 83(5).

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