Business Entities, Laws, And Regulations Paper

710 Words3 Pages
Abstract The following paper describes all the activities that need to take place at a new sports bar in order to have a success. The club will be own by Lou, Jose and Miriam who will provide the capital. All parties from the organization will participate on creating a better club and therefore, a better company, not only on sales but internally as well. Sports Bar and Restaurant Lou and Jose plan to open a sports bar and restaurant. Neither one of the two has the money required to open the bar; however, they have Miriam who is a wealthy investor who is willing to provide capital to start the business in return for a percentage ownership. Ethical decisions must be made everyday in different organizations and the restaurant will not be an exception. When a decision is made, consequences should always be considered. Having proper business ethics is vital to any organization. The first issue that Lou, Jose, and Miriam need to address is to have all contracts under all three names. The name of the property needs to show all three names as owners to prevent future problems. All decisions should be taken by all three parties. For example the light system the sports bar will need. Before installing the lighting show software, a server must be bought. With a server, all users will have access to all club’s information immediately. Two or more users will be able to access files at the same time. Also, once the server is installed, the lighting show will be able to be programmed and change from any working station including all three owners and will be able to change it from home. One problem that Miriam may encounter is Lou and Jose not giving her a percentage ownership. Miriam lacks time to get involved directly in the business; however, to avoid such problem, Miriam needs to review the monthly statements carefully. She needs to have the

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