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Five Friends Construction Company

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Five Friends Construction Company <> <> <> <> Abstract Mrs. Oona Blair, Mrs. Samantha Cook, Mr. William Manahan, Mr. David Shapiro, and Mr. John Smith have requested the analysis and recommendations on the creation a commercial construction business. Business Situations No. 4 Five Friends Construction Mrs. Oona Blair, Mrs. Samantha Cook, Mr. William Manahan, Mr. David Shapiro, and Mr. John Smith have requested the analysis and recommendations on the creation a commercial construction business. All parties involved either have sizeable assets, construction experience, running company, and head of a local division of a national construction company. The party will be refereed to as the "Five Friends Construction Company" within this document. The current document will provide the Five Friends Construction Company an overall analysis of legal and regulatory issues that must be adhered to when starting their business. The company should also get in touch with the states chamber of commerce, the Small Business Association, or lawyer, to provide assistance help in the creation of this company. ...read more.


(GibbsConstruction.net, 2004) Proposed Business Structure - Five Friends Construction The Five Friends Construction should obtain help with an attorney and/or business advisors to define its business structure. Presently the proposed business structures are as follows: Partnership and LLP - Limited Liability Partnership, based off the information that was already provided (BusinessLaw.gov, 2004). The business will assume all "normal" business risks, when making this decision. All factors will have to be weighed when selecting any business structure. The recommend business structure is the LLP-Limited Liability Partnership. Outlined by Pennsylvania Department of State, a Limited Liability Partnership is outlined as "an existing general or limited partnership that files an election with the Corporation Bureau, claiming LLP status on form DSCB:15-8201A. LLP status provides the general partners with limitations and additional protection on their personal liability as general partners. (PA.US, 2004)" * The limited liability partnership name must be available. ...read more.


An example, some states may require a sole proprietor to use their own name as the business name, unless they formally file another name as a trade name, or fictitious name. In addition, the business should investigate in contacting the United States Patent and Trademark office, to Trademark the companies name. Consider that some business file trademarks only within their locality, so it is possible that the same name can be used elsewhere. Licenses and Permits - Five Friends Construction Company There are many tasks when starting a business, do not overlook the important legal requirements. There are associated with registrations, permits, taxes, and licensing. Please contact your state's chamber of commerce, a lawyer, a business consultant, or trade associations. Conclusion When investigating or starting a new company, the business owners should get in touch with at least the states chamber of commerce and the Small Business Association to collect as much legal and regulatory issues that the company might be faced with. ...read more.

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