Business Entities, Law, and Regulations Paper

Business Entities, constabulary, and Regulations Paper Valerie A. Felix University of Phoenix BUS/415 Business Law Michael Tancredi July 19, 2011 Akiva and Tara have just accurate all educational and existential requirements to be licensed as obstetricians. They want to open a birth clinic to desexualiseher and blueprint to take out a large loan to finance start-up costs. In doing so they go out need to appoint the signcast of business entity they would analogous to be recognized as. After researching the differences amongst a contain financial obligation guild and limited liability compact the best earthy selection for Akiva and Tara is to archive for a limited liability partnership as it best suits their medical checkup profession. This choice is ideal as it limits the partners legal liability, debts, and obligations to save what they invested in the company and not their individualised assets. To file for the LLP Akiva and Tara will have to file an articl e of partnership with the secretary of province in which they digest and are doing business in(Cheeseman, 2010). Upon doing so it is undeniable that they obtain personal liability insurance with a token(prenominal) of one million dollars.

This type of insurance policy would foster Akiva and Tara if they should ever be sued for medical mal behave, negligence, and misconduct by each of the partners or any employees that whitethorn work for them. Akiva and Tara must sting to the laws and regulations of practicing birthing with their clients. They have already been licensed as obstetricians to practice the medical profession other they could be sued for medical malpractice. drug regulations must be followed to come a! cross they are administering drugs according to guidelines. property medical records of their patients on file per the states instruction is also important. tour they progress in their unsanded business Akiva and Tara must be aware of the taxation of the business. They would overhear the benefit of not paying taxes on the partnership train but their profits and losses must be...If you want to get a full essay, put in it on our website: OrderEssay.net

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