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This is what I am required to write about.
Milestone Two is the second part of
This is what I am required to write about.
Milestone Two is the second part of the final project. It provides you with the opportunity to present an analysis of the legal and ethical issues involved in a hypothetical business scenario. You will apply the discipline-specific knowledge necessary to successfully address real-world business situations such as business formation and management, liability issues, and compliance with government and industry regulations. You will also effectively communicate issues and facts to peers and professionals. You will evaluate and make recommendations to avoid future issues and assess relevant legal issues. These skills are integral in both our personal and professional lives.
Prompt
For Milestone Two, craft a professional memo to your clients Javier and Elena with your preliminary thoughts on their case. Your memo should illustrate the issues and relevant law, apply the facts, and support your conclusions for each issue. Your memo should be appropriate in format, tone, and content for this purpose. Always remember to be clear, kind, and professional in your communications.
You will receive feedback on this milestone. After receiving your feedback, make any necessary revisions and include them in your final project submission.
Case Study 2
Javier’s Very Hot Sauce! has hit the market. It has become a huge success locally, and they are looking to grow nationally. Javier has patented his famous concoction and trademarked the hot sauce’s name and logo. Demand is so high that Javier and Elena are working full-time on the business. Their children, Antonio and Maria, have now joined the company full-time as well. In fact, Javier has made Antonio and Maria partial owners of the business. Javier and Antonio handle the production, sales, and delivery. Elena and Maria handle most of the administrative and business management tasks. They also hired a longtime friend, Tiffany, as the bookkeeper. While there are more employees now, Javier and Elena are the only authorized signatories on the corporate account.
At this point, the business has only one business credit card that they use to buy Javier’s Very Hot Sauce! production supplies. There is also a small mortgage outstanding on the family property. The business owes vendors money for supplies, but it is consistently in the red. Individual family members carry high personal credit-card balances. Antonio has a loan on the delivery van, too.
Elena and Maria are working on securing a new production facility and distribution chain. They need this to accommodate an upcoming contract with a national chain. After locating a large warehouse on several acres, Elena and Maria approach their local credit union for a loan.
An issue arises during the commercial loan accounting review process. The bank discovers that Tiffany has been siphoning off large amounts of corporate money and “cooking the books” to hide her actions. She has written several checks from the corporate account and forged both Javier and Elena’s signatures on several checks from the business’s account. Tiffany also wrote several of the forged checks to Don, a local loan shark, to repay her gambling debts. After feeling some guilt about her actions, Tiffany wrote one very large check out to “Cash” and slipped it into the collection box at church. The embezzlement is so severe that the family fears Javier’s Very Hot Sauce! business is now on the brink of bankruptcy.
Meanwhile, Antonio has refused to enter into an exclusive distribution deal with the local grocery store. This upsets Tyrone, the owner of the local grocery store. Tyrone has exclusively promoted Javier’s product and believes he is the one who made it a success. As a result of this dispute, Tyrone has discontinued buying the product. Tyrone has also reverse-engineered the recipe for Javier’s Very Hot Sauce! and has posted it online in an act of vengeance.
Specifically, address the following rubric criteria in your memo to Javier and Elena:
Determine the legal defenses Javier and Elena might raise about the checks written by Tiffany to Don, and explain why defenses will be successful or unsuccessful.
Determine the legal defenses Javier and Elena might raise about the check written by Tiffany and delivered to the church, and explain why defenses will be successful or unsuccessful.
Determine civil claims available to Javier and Elena against Tiffany based on her actions, and evaluate the potential for success.
Analyze the forms of bankruptcy available to the business in this instance based on the chosen type of business entity, and determine which form is most appropriate and why.
A. Assume the business entity is the same form as you chose in Case Study 1.
Analyze the implications of a potential bankruptcy action on the business assets and explain which are subject to forced sales, liens, or forfeiture.
A. Assume the business entity is the same form as you chose in Case Study 1.
Analyze the implications of a potential bankruptcy action by the business on the personal assets of the individual family members, and explain if the assets of business owners are subject to forced sale, liens, or forfeiture.
A. Assume the business entity is the same form as you chose in Case Study 1.
Determine the legal recourse Javier has against Tyrone for infringement of intellectual property rights, and explain why Javier will be successful or unsuccessful.
This paper will be will need reference and be in APA format
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