Introduction
Acme Fireworks is a retailer that sells fireworks, large aerial display fireworks, and ground display fireworks. The owner of the business started the producing fireworks in his garage and in two years the business has fifteen employees managed by a manager. The business is operational as a sole proprietorship from the inception. Acme Fireworks expects the business to expand due to the recent offers and inquires by large organizations to provide firework displays regularly. The owner of the business has replied to the inquirers, and the parties have agreed to a price per display. The major costs of the services and products include insurances, skilled labor costs, and setting off the fireworks. The expansion process would require hiring new employees and the owner is concerned about the continuity of orders to pay off the new employees. The owner is thinking to change the entity of the business but not sure what form of business of form. As a manager of Acme the owner has assigned duties to identify and develop some legal formalities for the entity and to recommend a type of business structure other than Sole Proprietorship.
Determining whether common law or Uniform Commercial Code (UCC) governs contracts with businesses.
Analyzing if the owner of Acme Fireworks formed a contract, and applying five essential elements of enforceability.
Explanation of Personal Liability in case of any injuries to spectators.
Discussion of employment types and analyzing the pros and cons of each type for Acme Fireworks.
Explanation to a new business structure for Acme Fireworks.
Thesis Statement
Acme Fireworks requires formulation of specific and comprehensive business plan that can help to support the expansion processes. The business plan is helpful to implement the contracts of the business with new organizations requesting the firework services. As a manager of Acme Firework it is essential to analyze some core areas relating to changing the business structure from sole proprietorship from any other form, maintaining and analyzing liabilities, contracts, and hiring more employees for business expansion. The process of hiring new employees is time consuming and additional employees increase the level of risks. The business needs to ensure that the rights of the employees are secured and other legal matters are handled, so that protection from personal lawsuits is achieved.
Determining whether contracts with businesses are governed by common law or Uniform Commercial Code (UCC)
The section would cover the comparison of contracts under the common law and UCC. The comparison would provide the understanding to the manager to decide whether the contracts are governed by Common Law or UCC .
Analyzing if the owner of Acme Fireworks formed a contract, and applying five essential elements of enforceability
For any valid contract it is essential that the contract is enforceable. The section covers the main elements of enforceability and analyzing their relevance for Acme Fireworks. The elements of enforceability involve Offer, Acceptance, Consideration, Legality, and Capacity .
Explanation of Personal Liability in case of any injuries to spectators
Personal liabilities require focus by the owner and the manager of Acme Fireworks. The section covers detail relating to the personal liabilities for Acme Fireworks in case of an injury to a spectator from the stray firework from a firework display .
Discussion of employment types and analyzing the pros and cons of each type for Acme Fireworks
The section provides a description regarding different types of employment types. The need to discuss the point is due to the addition of new employees to the business and the owner wants to ensure that the decision of employment types is best for his interest.
Explanation to a new business structure for Acme Fireworks
The identification of new business structure requires a thorough comparison of different structures and differentiating their advantages and disadvantages. The section would cover a detail of structure for business and will provide a recommendation to the business owner of Acme Fireworks.
Conclusion
References
CPSC. (2001). Fireworks Business Guidance | CPSC.gov. Retrieved from http://www.cpsc.gov/en/Business--Manufacturing/Business-Education/Business-Guidance/Fireworks/
Mann, R. A., & Roberts, B. S. (2010). Business Law and the Regulation of Business. Mason: Cengage Learning.
Medina, M. A. (2012). When fireworks GO from Ooh’s and Aah’s to “Oh My God”. Retrieved from http://claims-management.theclm.org/home/article/When-Fireworks-Go-from-Ooh%E2%80%99s-and-Aah%E2%80%99s-to-Oh-My-God
Miller, F. H., & Boss, A. H. (2002). The ABCs of the UCC.: General provisions. Revised article 1. Chicago: American Bar Association.
Rogers, S. (2012). Essentials of Business Law. San Diego, CA: Bridgepoint Education, Inc.
