Tom and Jerry have developed the “Yummy Ice Cream” and is now ready to manufacture and distribute the ice cream. While they are entrepreneurs, they do not know how to run a business. They searched high and low to find the world’s best consultant to help them with their business questions. All your previous clients told Tom and Jerry that you are the best advisor and they should retain you. Tom and Jerry now seeks your help. Please answer the following questions in detail:
1. Should “Yummy Ice Cream” hire employees or independent to operate the business and to distribute the product world wide? Based on your answers, please prepare a “basic contract”.
2. Advise Tom and Jerry on all the legal implications relating to “job advertisements, interviews, hiring, compensation, and termination of employees/ independent contractors”.
IMPORTANT TO MEET FOLLOWINGS:
Shall contain a general discussion of the legal issue raised, an analysis of the problem and a rationale for your answer. There is no need to restate the facts. Generally looking for two things: an identification of the legal issues raised by the fact pattern presented and an application of those legal principles to the facts.
REQUIRED TEXT REFERRENCE:
Bagley, Constance E., and Craig E. Dauchy. The Entrepreneur?s Guide to Business Law. 4d edition.
784 pp. Mason, Ohio: West Legal Studies in Business, 2008.
Forming an entity, choice of entity and choice of jurisdiction. Corporate formalities. Management and stockholder rights and duties.
Chapter 4. Deciding Whether to Incorporate
Chapter 5. Structuring the Ownership
Chapter 6. Forming and Working with the Board