Question

Create a legal issue between a business you own and a customer of your product or service. Describe the circumstances of the dispute and discuss which court will have JURISDICTION over your dispute and why. You must use legal terminology and legal reasoning for your decision.

Answer 1

Legal issue between a business is the act of making money or making money by producing or buying and selling products (such as goods and services). Simply put, it is “any activity or enterprise created for profit. This does not mean that it is a corporation, partnership, or any such formal organization, but it can range from street vendors to General Motors.

Having a company name does not separate the business entity from the owner, meaning that the business owner is responsible and liable for the obligations arising from the business. If the business gets a debt, the creditors can follow the owner’s personal assets. The business structure does not allow corporate tax rates. Owners are taxed individually with all business income.

The term is also often used (but not by lawyers or government officials) to represent a company. On the other hand, the company is a separate legal entity and offers limited liability as well as corporate tax rates. The structure of the company is more complicated and more expensive to set up, but offers greater protection and benefits for the owner.
Sole proprietorship: A sole proprietorship, known as a sole trader, is the property of a person and operates to their advantage. The owner runs the business himself and can hire employees. The sole owner has unlimited liability for all liabilities arising from the business, whether from operating costs or court decisions against the business. All commercial property is owned by the sole proprietor, including computer infrastructure, inventory, production or retail equipment, as well as any property owned by a single owner.
Partnership: A partnership is a business run by two or more people. In most forms of partnership, each partner is responsible for the debt incurred by the business. The three most common for-profit partnerships are general partnerships, limited liability companies, and limited liability partnerships.
Corporate: The owner of a corporation has little responsibility and the business is separate from its owners. Corporations can be public or private and can be organized either for profit or as a non-profit organization. The for-profit private corporation is owned by its shareholders, who elect a board of directors to run the corporation and hire management staff. Profitable private corporations may be privately owned by a small group of individuals or publicly owned by publicly traded stocks listed on the stock exchange.
In legal terms, company owners are usually referred to as "members". In companies that are limited or unrestricted by stock (created or combined with stock capital), these will become shareholders. In a limited number of insurers these will be insured. Some offshore jurisdictions have created special forms of offshore companies in order to attract businesses into their jurisdiction. Examples include "split portfolio companies" and limited companies.

However, there are many sub-categories of companies that can be established in different jurisdictions around the world.

Companies are also sometimes distinguished from public and private companies for legal and regulatory purposes. A public company is a company in which shares can be traded publicly, often (though not always) on the stock exchange, which sets out the requirements for listing / rules for listing listed shares and future stock issues. To strengthen the reputation. On a particular exchange or market. Private companies do not have publicly traded shares and often have restrictions on the transfer of shares. In some jurisdictions, private companies have the largest number of shareholders.

A parent company is a company that has enough voting shares in another company to control, manage and operate by influencing or electing its board of directors. As the second company is considered a subsidiary of the parent company. The definition of the parent company varies according to jurisdiction, and the definition is usually determined by the law relating to the company within that jurisdiction.