Business & Finance homework help
Respond to this forum with a minimum of 450 words, 3 scholarly articles, and Biblical references:
Starting and Naming a Business Case Study
In the presented case study, aspiring entrepreneur Shania Jackson is in her future business’s planning phase. A Christian coffeehouse located near Denver, Colorado, under the name of “The Gathering Place.” As an entrepreneur, I always recommend future entrepreneurs the careful consideration that they should involve themselves in to find out the personal reasons behind the creation of a business. Many aspiring entrepreneurs have this idea that if they create something, people will come. I called the field of dreams ideal, and as such, Shania Jackson will have to identify the reasons behind the creation of her business that will help her remember her perfect business.
Which of the business entities under consideration best accomplishes her business goals? Thoroughly explain the reasons for your recommendation.
Shania Jackson uses her capital, and her husband, Marvin Jackson, is contributing money to create her business. Marvin does not want to be included in any decision-making process or any operational activity related to the company. Also, Marvin does not state that he wants a share in the business or wants his initial investment back. Marvin’s capital contribution can be considered a grant that Shania will not have to pay back. However, the State of Colorado is an Equitable Distribution State, meaning that all their property will be divided equally among both parties (Hansen, 2018).
The rest of his potential partners do not contribute any initial investment to creating the business; the coffeehouse can hire them as employees. Hiring them will eliminate personal issues that any employee is having, and they can be given a position that does not interfere with their personal life. Creating an LLC will allow her to invest more time into other matters related to her business. She will be able to make any changes to her organization if potential partners want to be included. If Marvin wants to be added to the institution as a partner, an LLC allows them to change the structure without any heavy paperwork (Boitnott, 2015).
Perform a corporate name search at this website to determine if the name Shania is considering is available for use in the State of Colorado. Also, assess whether the name is known as a trademark. Even if the name is available, advise Shania on whether it is the right choice. Thoroughly explain the reasons for your recommendations.
After performing a search in the State of Colorado Business Names Database, I found that many businesses have the name “The Gathering Place,” and other companies using the same name with a combination of other words (Colorado Secretary of State, 2020). I also executed a search of “The Gathering Place” being trademarked. The name has been trademarked since January 29th, 2020, in the State of Florida. (United States Patent and Trademark Office, 2020).
The search shows to Shania Jackson that many Colorado companies already take the name that she wants to use for her business. There is a trademark registration for the word that could present complications in her future business. I will advise Shania Jackson that the name is not the right choice because of the many factors affecting her business.
Using the same name as other businesses can easily create confusion with her place and other companies. Other companies sharing the same name could have a bad reputation that can smear Shania Jackson businesses (Linford, 2017). Also, having an already trademarked name can create a legal battle between the trademark owner and her company (Kubasek, Brawne, Herron, Dhooge, & Barkacs, 2019). Legal action can close her business during the start-up phase, which is essential towards establishing her business and creating a loyal customer base (Brealey, Myers, & Marcus, 2019).
I will recommend Shania Jackson to look for other unique names and not trademarked ones. As a devout Christian, Shania Jackson should follow the Holy Bible’s teachings that teach about the path that God creates for each one of us. She will be able to find the name, and God will enlighten her towards the proper word for her business; Jeremiah 42:3 states; “Pray that the LORD your God will tell us where we should go and what we should do.” (The Holy Bible, English Standard Version, 2016, Jeremiah, 42:3).
Advise Shania on which of the interested persons she should include in her business, what role(s), and why. Your analysis must consist of Biblical perspectives, such as Biblical considerations of marriage and business relationships with non-believers. Thoroughly explain the reasons for your recommendations.
Many individuals want to assist Shania Jackson with her business. As stated, her husband, Marvin Jackson, wants to be a silent investor. Marvin is following the teachings of the Holy Bible regarding providing support to his spouse; Ecclesiastes 4:9 states: “Two are better than one, because they have a good return for their labor: If either of them falls down, one can help the other up. But pity anyone who falls and has no one to help them up. Also, fi two lie down together, they will keep warm. But how can one keep warm alone?” (The Holy Bible, English Standard Version, 2016, Ecclesiastes, 4:9). Marvin is following God’s word and executing his duty as a husband and assisting Shania in becoming a better version of herself, and creating an organization that will follow God’s word in their corporate culture.
Shania should welcome all assistance regarding her business; Her neighbor Carlos wants to be part of the adventure. As a non-Christian, Carlos represents inclusivity; all Christians open the door to all humans regardless of their beliefs. Shania has an excellent opportunity to teach Carlos about the word of God, and possible assistance in his transition towards Christianity. Jude 1:22 states: “And have mercy on those who doubt.” (The Holy Bible, English Standard Version, 2016, Jude, 1:22). Having compassion towards those that do not share our biblical values is the path that will allow us to teach them about the true God and his only son Jesus Christ.
Shania has a predicament with her sister Kelsea. Her sister follows the word of God, and Kelsea honors her husband; Ephesians 5:22 states: “Wives, submit to your own husbands, as to the Lord.” (The Holy Bible, English Standard Version, 2016, Ephesians, 5:22). Kelsea honors her husband, and she will obey him in his request. However, Ephesians 5:25 states: “Husbands, love your wives, as Christ loved the church and gave himself up for her.” (The Holy Bible, English Standard Version, 2016, Ephesians 5:25). Kelsea’s husband, as non-Christian, is blinded by ignorance and needs to be woken up. Shania needs to allow her sister Kelsea to develop herself with her husband. Kelsea has two children who need attention, and it might be the main reason her husband does not want her to work. Shania can provide her sister with an opportunity to help her in her business as an advisor or assistant. A position that will allow her to be at home taking care of her husband and her children until Kelsea has grown as a Christian can encourage her husband to explore the Christian faith.
References
Boitnott, J. (2015, February 20th). 5 reasons why an LLC is the right structure for your start-up. https://www.inc.com/john-boitnott/5-reasons-why-an-llc-is-the-right-structure-for-your-startup.html.
Brealey, R. A., Myers, S. C., & Marcus, A. J. (2019). Fundamental of Corporate Finance (10th ed.). Boston, MA: McGraw-Hill.
Colorado Secretary of State. (2020). Business Search Results. https://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do.
Hansen, L. (2018, September 17th). Is Colorado an equitable distribution state? Griffiths & Law PC. https://www.griffithslawpc.com/blog-articles/equitable-distribution-state/.
Kubasek, N., Brawne, M.N., Herron, D.H., Dhooge L.J., & Barkacs, L. (2019). Biblical Worldview Edition of Dynamic Business Law (2nd ed.). McGraw-Hill Education.
Linford, J. (2017). Are trademarks every fanciful? The Georgetown Law Journal, 105(3), 731. https://bi-gale-com.ezproxy.liberty.edu/global/article/GALE%7CA491256938?u=vic_liberty&sid=summon.
The Holy Bible, English Standard Version. (2016). Crossway Publishing.
United States Patent and Trademark Office (2020). Trademark Electronic Search System. http://tmsearch.uspto.gov/bin/showfield?f=doc&state=4809:mw3t4q.3.2.
Starting and Naming a Business Case Study
In the presented case study, aspiring entrepreneur Shania Jackson is in her future business’s planning phase. A Christian coffeehouse located near Denver, Colorado, under the name of “The Gathering Place.” As an entrepreneur, I always recommend future entrepreneurs the careful consideration that they should involve themselves in to find out the personal reasons behind the creation of a business. Many aspiring entrepreneurs have this idea that if they create something, people will come. I called the field of dreams ideal, and as such, Shania Jackson will have to identify the reasons behind the creation of her business that will help her remember her perfect business.
Which of the business entities under consideration best accomplishes her business goals? Thoroughly explain the reasons for your recommendation.
Shania Jackson uses her capital, and her husband, Marvin Jackson, is contributing money to create her business. Marvin does not want to be included in any decision-making process or any operational activity related to the company. Also, Marvin does not state that he wants a share in the business or wants his initial investment back. Marvin’s capital contribution can be considered a grant that Shania will not have to pay back. However, the State of Colorado is an Equitable Distribution State, meaning that all their property will be divided equally among both parties (Hansen, 2018).
The rest of his potential partners do not contribute any initial investment to creating the business; the coffeehouse can hire them as employees. Hiring them will eliminate personal issues that any employee is having, and they can be given a position that does not interfere with their personal life. Creating an LLC will allow her to invest more time into other matters related to her business. She will be able to make any changes to her organization if potential partners want to be included. If Marvin wants to be added to the institution as a partner, an LLC allows them to change the structure without any heavy paperwork (Boitnott, 2015).
Perform a corporate name search at this website to determine if the name Shania is considering is available for use in the State of Colorado. Also, assess whether the name is known as a trademark. Even if the name is available, advise Shania on whether it is the right choice. Thoroughly explain the reasons for your recommendations.
After performing a search in the State of Colorado Business Names Database, I found that many businesses have the name “The Gathering Place,” and other companies using the same name with a combination of other words (Colorado Secretary of State, 2020). I also executed a search of “The Gathering Place” being trademarked. The name has been trademarked since January 29th, 2020, in the State of Florida. (United States Patent and Trademark Office, 2020).
The search shows to Shania Jackson that many Colorado companies already take the name that she wants to use for her business. There is a trademark registration for the word that could present complications in her future business. I will advise Shania Jackson that the name is not the right choice because of the many factors affecting her business.
Using the same name as other businesses can easily create confusion with her place and other companies. Other companies sharing the same name could have a bad reputation that can smear Shania Jackson businesses (Linford, 2017). Also, having an already trademarked name can create a legal battle between the trademark owner and her company (Kubasek, Brawne, Herron, Dhooge, & Barkacs, 2019). Legal action can close her business during the start-up phase, which is essential towards establishing her business and creating a loyal customer base (Brealey, Myers, & Marcus, 2019).
I will recommend Shania Jackson to look for other unique names and not trademarked ones. As a devout Christian, Shania Jackson should follow the Holy Bible’s teachings that teach about the path that God creates for each one of us. She will be able to find the name, and God will enlighten her towards the proper word for her business; Jeremiah 42:3 states; “Pray that the LORD your God will tell us where we should go and what we should do.” (The Holy Bible, English Standard Version, 2016, Jeremiah, 42:3).
Advise Shania on which of the interested persons she should include in her business, what role(s), and why. Your analysis must consist of Biblical perspectives, such as Biblical considerations of marriage and business relationships with non-believers. Thoroughly explain the reasons for your recommendations.
Many individuals want to assist Shania Jackson with her business. As stated, her husband, Marvin Jackson, wants to be a silent investor. Marvin is following the teachings of the Holy Bible regarding providing support to his spouse; Ecclesiastes 4:9 states: “Two are better than one, because they have a good return for their labor: If either of them falls down, one can help the other up. But pity anyone who falls and has no one to help them up. Also, fi two lie down together, they will keep warm. But how can one keep warm alone?” (The Holy Bible, English Standard Version, 2016, Ecclesiastes, 4:9). Marvin is following God’s word and executing his duty as a husband and assisting Shania in becoming a better version of herself, and creating an organization that will follow God’s word in their corporate culture.
Shania should welcome all assistance regarding her business; Her neighbor Carlos wants to be part of the adventure. As a non-Christian, Carlos represents inclusivity; all Christians open the door to all humans regardless of their beliefs. Shania has an excellent opportunity to teach Carlos about the word of God, and possible assistance in his transition towards Christianity. Jude 1:22 states: “And have mercy on those who doubt.” (The Holy Bible, English Standard Version, 2016, Jude, 1:22). Having compassion towards those that do not share our biblical values is the path that will allow us to teach them about the true God and his only son Jesus Christ.
Shania has a predicament with her sister Kelsea. Her sister follows the word of God, and Kelsea honors her husband; Ephesians 5:22 states: “Wives, submit to your own husbands, as to the Lord.” (The Holy Bible, English Standard Version, 2016, Ephesians, 5:22). Kelsea honors her husband, and she will obey him in his request. However, Ephesians 5:25 states: “Husbands, love your wives, as Christ loved the church and gave himself up for her.” (The Holy Bible, English Standard Version, 2016, Ephesians 5:25). Kelsea’s husband, as non-Christian, is blinded by ignorance and needs to be woken up. Shania needs to allow her sister Kelsea to develop herself with her husband. Kelsea has two children who need attention, and it might be the main reason her husband does not want her to work. Shania can provide her sister with an opportunity to help her in her business as an advisor or assistant. A position that will allow her to be at home taking care of her husband and her children until Kelsea has grown as a Christian can encourage her husband to explore the Christian faith.
References
Boitnott, J. (2015, February 20th). 5 reasons why an LLC is the right structure for your start-up. https://www.inc.com/john-boitnott/5-reasons-why-an-llc-is-the-right-structure-for-your-startup.html.
Brealey, R. A., Myers, S. C., & Marcus, A. J. (2019). Fundamental of Corporate Finance (10th ed.). Boston, MA: McGraw-Hill.
Colorado Secretary of State. (2020). Business Search Results. https://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do.
Hansen, L. (2018, September 17th). Is Colorado an equitable distribution state? Griffiths & Law PC. https://www.griffithslawpc.com/blog-articles/equitable-distribution-state/.
Kubasek, N., Brawne, M.N., Herron, D.H., Dhooge L.J., & Barkacs, L. (2019). Biblical Worldview Edition of Dynamic Business Law (2nd ed.). McGraw-Hill Education.
Linford, J. (2017). Are trademarks every fanciful? The Georgetown Law Journal, 105(3), 731. https://bi-gale-com.ezproxy.liberty.edu/global/article/GALE%7CA491256938?u=vic_liberty&sid=summon.
The Holy Bible, English Standard Version. (2016). Crossway Publishing.
United States Patent and Trademark Office (2020). Trademark Electronic Search System. http://tmsearch.uspto.gov/bin/showfield?f=doc&state=4809:mw3t4q.3.2.
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