Sam and Dean are brothers who want to go into business together. Dean has long dreamed about making his fortune while hunting ghosts, demons and other supernatural beings. Sam has decided to join his brother after suffering a recent personal tragedy. Their family has a history in this enterprise and they both believe they have the requisite skills to succeed. However, they have no business experience and need your help.
Please describe and define at least 3 different possible business forms they should consider and why those forms should be considered. In addition to any other issues, your answer should discuss and explain limited vs. personal liability, how the business will be controlled, how members might transfer their interests, and how they will raise money for their venture. Please give your recommendation of the form you suggest and state why. Your response should be substantive and should demonstrate your knowledge and ability to apply the course concepts from this section of material related to business forms.
Write your answers in well-organized paragraphs (rather than a single wall of text) and upload using the submission link above
2) Please write a response applying the business judgment rule to this situation to protect Carlson from personal liability to the WKRP Corporation for this incident. A complete response should do the following:
Identify the requirements for the business judgment rule to apply
Apply the business judgment rule to this situation
Make the best case the business judgment rule would apply
Make the best case the business judgment rule would not apply
Give your opinion on whether or not the rule should apply
Clearly support and explain your belief
[1] For a more complete factual recitation, this problem can be found on WKRP in Cincinnati, Season 1, Episode 7 “Turkeys Away.” Available on Hulu and YouTube. Not required in any way for your answer.
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