Legal Business Structure for Universal Horizon

Legal Business Structure for Universal Horizon

Instructions/Descriptions

Legal Business Structure for Universal Horizon

Assignment – Business Legal S

tructure and Finance

This Assignment will develop the business legal structure and financial analysis of the business idea.  You will use all of your past knowledge, skills, and abilities generated in your Business Law and Finance class in the Bachelors of Applied Science degree program.

You will create a Marketing Plan for your new or using an existing company for a (1) new product or service development, (2) market a new business initiative, or (3) strategies to solve a problem with a current organization.

*Consider Business Law and Finance implications during this course for your business idea.  

Describe the Legal Structure of your new or existing company idea.  Include why you decided to choose this legal structure and support the reason why.  They should be written in the following order:

1. Title Page (include your name, your company’s name, class name, professor, and date)
2. Describe the Legal Structure of your new or existing company idea.  Include why you decided to choose this legal structure and support the reason why.  Develop a plan over the next five (5) years, if changes will occur or not.

SEE ATTACHMENT for Types of Business Legal Structures below.

1. Financial and Accounting Analysis. Create a Pro Forma statement to determine the future three (3) years of financials.  Describe the statement in a detailed written analysis for each year and include the statement/spreadsheet in your Assignment.

SEE ATTACHMENT for Preparing Pro Forma Statements below.

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Use our Business Law and Finance classes information for these sections.  Review your textbooks and past assignments for details and what should be included in each section.

Director Who Wore Too Many Hats Case

I’m working on a business law discussion question and need an explanation and answer to help me learn.

The Case of the Director Who Wore Too Many Hats

Tatiana is one of 5 directors of Beta Investments Corporation. She is also a majority shareholder holding both common and preferred stock. Her stock with voting rights amounts to 47% of all stock issued with voting rights.

Tatiana buys, for $1,500, an option to purchase a tract of real estate called Black acre, which is next to Beta’s home office, for $50,000. Tatiana forms a new corporation, Commercial Property, Inc., to hold the option. She then has Commercial Property buy Black acre. As a director of Beta, Tatiana orders Beta to authorize its real estate agent to negotiate the purchase of the land from Commercial Property for $100,000. After a successful negotiation for the purchase of Black acre for $100,000, Tatiana has Commercial Property sell it to Beta, and loan the money to Beta for the purchase price at a 5% interest rate which is 2% below the market rate. Lakesha, a minority shareholder in Beta, formally complains to Beta’s board which takes no action.

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The Trial

Lakesha files a suit against Tatiana on Beta’s behalf seeking to cancel the sale. Tatiana asks the Court to dismiss the lawsuit as Lakesha has no standing to bring the lawsuit.

Arguments At Trial

Maria’s attorney argues that Black acre is necessary for Beta as it will allow them to expand their offices and production plant thus increasing the net worth and potential profits to the shareholders. Further, the Board of Directors of Beta authorized the purchase which appeared to be in accordance with the Articles of Incorporation.

Lakesha’s attorney argues that the purchase of Black acre should have been put to a vote of the shareholders of Beta as required by Beta’s Bylaws. Beta’s Board of Directors failed in its duty to make sure this sale was in the corporation’s best interest.

Questions to Decide

What kind of suit will Lakesha file and what is its basis?

Who are the Plaintiffs and who are the Defendants? Why?

What are the defenses, if any, of Beta or Maria?

Who will win the case and why?

Legal Business Structure for Universal Horizon

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