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Entity Selection Exercise: GXB Printing

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Introduction

Entity Selection Exercise: GXB Printing Gary Bauldin LAW 529: Legal Environment of Business Barry Preston August 3, 2004 GXB Printing is a business that presently has thirty employees in 5 different locations in the state of Alabama. GXB Printing is a walk-in printing business that caters to those who need documents, photos, business cards, etc... It also services commercial printing for businesses involved with advertising, producing flyers, office stationary, and signage. Presently, GXB Printing has over $750,000 invested in equipment for each location, and prides itself on offering the latest technology for its clients. GXB Printing also plans on utilizing the Internet for online orders and requests. GXB Printing is looking to expand in the market to different locations, and also implement a delivery service for its customers at an additional charge. The owners of GXB Printing have developed a great idea to set themselves apart from other printers in their region. This would be the proposed delivery service, and the decision to stay ahead with updated technology. ...read more.

Middle

This will allow the business to insure a business style and idea that remains its own. Two areas that may require outside assistance is the online order option that will be made available for his customers and dealings with suppliers. The internet is opening up a whole new world for business, but the legal principle underlying contractual relationships remain unchanged. A few questions that may arise are; who are the parties to the transaction? How credit worthy are they? Has a transaction taken place? Are the terms of the transaction certain to be enforced? Is there evidence that an agreement has been reached. All of these questions must be answered along with basic elements of confidentiality, encryption, security for payment and other issues which may arise. A company with the credibility as Internet Business Consulting (ICBI) should be contacted to take care of all web design and E-Commerce functions. ...read more.

Conclusion

In this case, The LLC provides its owners with a very flexible and adaptable form of business organization that provides liability protection comparable to the protection provided by incorporation of a business unit. Unless personal guarantees have been given, a member's liability is limited to the amount invested in the LLC. In an LLC, the managers or members have full liability for unpaid taxes. A LLC can be established at moderate cost in a relatively short time. Management by all members, by one or more members, or by a non-member individual or business entity is allowed. (The management arrangements are specified in the articles of organization.) Ownership interests can be transferred using procedures described in the articles of organization or operating agreement, or by consent of a majority in interest. Thus, the members have a high level of flexibility in setting up or modifying business arrangements. GXB Printing has a lot to consider in order to witness the owner's vision becoming reality, and these items listed just scratch the surface of the legal issues that will arise. ...read more.

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