This document should be approximately 10 pages in length, double spaced, one-inch margins, excluding charts and exhibits. Please make sure all sources are properly cited using APA style. The document should cover the following legal aspects:
Please use the below information as reference for the business plan.
We decided to make our life coaching company an LLC and it was created by six members, all of which own an equal percentage (about 16%) of it. All six members will contribute $50,000 in order to have enough to pay the company’s start-up costs, totaling $300,000. The target of potential patients is directed both individually and group in case of offering our service to companies. To open our company, we will use $150,000 and the remaining 50% will be used at the time we decide to implement new information technologies, to maintain a stable platform, dynamic and attractive to users. Due to the type of company in which we have decided to invest, we think that our project does not need other investors or bank loans.
Management of the business, decision making, and operation of the business
We have decided to make our LLC managed by all the members. Because we are starting, our resources are limited and we chose to have every member contribute to managing the business. Every member will have authority when it comes to everyday operations and decision-making. As the business grows, we do plan on delegating management to those who are proactive and want to take on the role. All decisions will be made by taking the majority of votes, and in our case we would need four to make and approve a decision. Decision-making in the company at the administrative level within the legal department is what has to do with the supervision of human talent, monitoring of productivity rates, control of working hours, management of billing processes and collection, among others. Work teams are made up of different types of roles and professional profiles. All of them essential for the correct execution of tasks and the proper functioning of the company:
– EXECUTIVE DIRECTOR
– DIRECTOR OF OPERATIONS
– MARKETING DIRECTOR
Sharing of profits/losses
All profits and losses will be distributed between the members equally in the beginning in order to keep fairness. When we say in the beginning, we are accounting for each member’s future performance in running the company and leaving room for individual growth and healthy competition in which every member motivates the other. Included below is a graphic representation of the allocation of all profits and losses: Table No.01:rofit and Loss Allocation
(What liabilities will the business and the owners have if they get sued? How and where would they defend any legal actions?)
An LLC, like other corporations, can have a duration that is indefinite. That being said, it would not be wise to have a fixed duration. We chose to set an indefinite duration to our business because it can continue to go on even if one or more of the members are not able to run it anymore. When it comes to a corporation, having an indefinite duration indicates that it will remain in business until it is either dissolved, acquired by another company, or gone out of business. Having this duration not only benefits us, but also our clients in the long run.
We are a professional custom writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework.
Yes. We have posted over our previous orders to display our experience. Since we have done this question before, we can also do it for you. To make sure we do it perfectly, please fill our Order Form. Filling the order form correctly will assist our team in referencing, specifications and future communication.
2. Fill in your paper’s requirements in the "PAPER INFORMATION" section and click “PRICE CALCULATION” at the bottom to calculate your order price.
3. Fill in your paper’s academic level, deadline and the required number of pages from the drop-down menus.
4. Click “FINAL STEP” to enter your registration details and get an account with us for record keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
5. From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.