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Pages:
4 pages/β‰ˆ1100 words
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Check Instructions
Style:
APA
Subject:
Literature & Language
Type:
Essay
Language:
English (U.S.)
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Topic:

Entrepreneurs: ACME Fireworks

Essay Instructions:

Hi, I have attached the final paper proposal you did for me a week ago. The below is the actual final paper. Thanks

Week 5 - Final Paper
Final Paper
You are the manager of Acme Fireworks, a fireworks retailer who sells fireworks, puts on ground display fireworks, and large aerial display fireworks. The company started in the owner’s garage two years ago and now has 15 employees that you manage. The company started as a sole proprietorship, and the owner has never changed the entity. The owner has informed you that the company has received inquiries from several large businesses wondering if the company could create several fireworks displays on a regular basis. The owner told the inquirers that the company could fill such display orders, and a price per display was agreed upon. It was discussed that most of the cost for a fireworks display is for skilled labor, insurance, and the actual service of setting off the fireworks. No other details were discussed. The owner is anticipating that new employees will need to be hired, but he is worried that if the large orders for fireworks displays do not continue, the company will not have the funds to pay the new employees. The owner is now considering changing the business entity, but he does not know what entity to form or how to form it.
The owner has asked you to do the following:
Determine if the contracts with the businesses will be governed by common law or the Uniform Commercial Code (UCC), and explain why.
Analyze whether the owner formed a contract with the businesses, and apply the five essential elements of an enforceable contract.
Explain the potential personal liability to Acme Fireworks if a spectator is injured by a stray firework from a fireworks display.
Discuss the different employment types and relationships relevant to agency law, and analyze the advantages and disadvantages of each type specific to Acme Fireworks.
Explain why Acme Fireworks should not operate as a sole proprietorship. Recommend a new business entity, and provide rationale to support your recommendation.
For each task, be sure to analyze the relevant law, apply the facts to the law, and make a conclusion.
The paper
Must be 8 to 10 double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
Must include a separate title page with the following:
Title of paper
Student’s name
Course name and number
Instructor’s name
Date submitted
Must begin with an introductory paragraph that has a succinct thesis statement.
Must address the topic of the paper with critical thought. That is, describe what your response is to the content, either positive or negative, and defend your position. If multiple options, alternatives, and/or positions are present and are being rejected, you must also defend the reasons for rejecting an option.
Must end with a conclusion that reaffirms your thesis.
Must include at least five scholarly sources, two of which must be from the Ashford University Library, in addition to the course text.
Must document all sources in APA style as outlined in the Ashford Writing Center.
Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
Carefully review the Grading Rubric (Links to an external site.) for the criteria that will be used to evaluate your activity.

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Essay Sample Content Preview:

Acme Fireworks
Student’s Name
Institution Affiliation
Acme Fireworks
Entrepreneurs are the heart of every industry, and their spirit of growth pushes the business to other levels. Depending on the industry and the strategy used, small and medium enterprises that started as sole proprietorship grow and employ more employees than when it began. Growth comes with risks and responsibilities, such as legal issues and human resource challenges. With such risks, the management of the company should be ready to embrace the flexibility that comes with growth to survive in the industry and minimize legal battles. In the country, many businesses shut down every year because managers did not understand the risks associated with growing businesses (Martin, 2016). Because growing companies come along with high-level risks poisonous to the company, business managers should fully understand laws governing the market and be flexible enough to change the business structure to suit the rules.  
Being a small company that started at a garage two years ago, Acme Fireworks is on the verge of expanding. Acme's expansion over 15 years is visible by growth in the number of employees. Growth and development require an understanding of the law and contracts, which will enable the company to minimize the risks involved while companies are expanding. Because many businesses do not understand the risks involved during business expansions, Acme Fireworks should carefully go through the law and contractual process so that it can maximize the opportunities that come with growth.
 As the manager of the company, I would advise that universal laws should govern the contracts of the company. Principles of prevailing laws and uniform commercial codes are applied and understood across the United States (Hawkins, 2019). Prevailing laws primarily deal with assets that are intangible, real estate among other industries while Uniform Commercial Code (UCC) deals with actual transactions such as car purchases, sales of securities, among other services. I came up with the conclusion that the company should be managed by common law because of the kinds of services that Acme fireworks were going to offer. When determining the nature of legislation to apply to a business, there are few considerations that the management of the organization should consider.
The kind of goods or services offered by the company determines whether universal laws or UCC will govern the company's business structure. There are different terms used in contracts of prevailing laws that are related to the kind of service the company provides, among them, price, and nature of work.UCC also has terminologies used in its enforceable contracts, but the primary focus is quantity. The agreement between Acme Fireworks and other companies contained the nature of work and prices per display of fireworks. It is with these attributes that led to the conclusion of using prevailing laws since they are most suitable for the legality and not UCC. Also, common law covers service industries in the county, such as the service of providing firework displays to other companies. Fireworks can be considered as goods that fall under UCC, but Acme Fireworks is focused on providing the display ...
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