Business Entities, Laws, and Regulations Paper

507 Words3 Pages
The restaurant and bar, Lou and Jose is planning to open represents the general partnership or ordinary partnership. General partnership is two or more people to carry on as co-owners of the business for profit. Lou and Jose does not have much money, so they have brought Miriam in as an investor. Miriam would be known as the general partner. The general partner is liable for the debts and obligations of the business. Lou and Jose would have the control of the restaurant and the bar. Lou and Jose will need to follow the laws by the state. Miriam will be involved by paying the bills, taxes, equipment, penalties, and the merchandise for the restaurant and bar. Lou and Jose will need to qualify for a liquor licenses from the state. Lou and Jose will need to be familiar with the states liquor laws. The agency will determine the types of liquors can be sold, the hours of the business, and if the liquor can be sold on Sundays. The Alcoholic Beverage Control determines the qualifications required to obtain the license, the applicable fees, and the quotas for the business. Lou and Jose will need to decide on which type of permit is needed for the restaurant and bar. The person must be of legal drinking age, a residence, a clean personal history, seller's permits, and training course completion. They will need to discover how much will it cost, when will it start, is insurance important, and where do I apply? The exterminator business, Frank will be the sole proprietor. Sole proprietor is the owner of the business, and it does not have a legal entity. Frank will need to acquire a pest control business license. The business license includes the principle and branch locations. He will need to select, which type of pest control, he is wanting to perform for the customers. The types of pest control includes ground, aquatic, and aerial pest control, farm

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