Task: Business Law Assignment Part 1: Project tasks Scenario Anna and Cooper have decided to start their own marketing business and have come to you to seek advice on the common business structures in Australia. You are employed by Bluebottle Tax Agent and Business Advisers. Anna and Cooper are currently employed in the family business, a large marketing firm for around 10 years (Creativity). They want to leave the family business to start their own firm. They have some funds put aside to meet the set-up costs for the business. They expect their business will earn around $200,000 in the first year of operation as Cooper expects to rapidly expand his client base. Anna and Cooper both own their own homes and have other assets. They are concerned about their tax liability as the business earnings increase and they do not want their personal assets to be available to satisfy debts of the business. They want to minimise cost involved in setting up the new structure. Anna and Cooper have asked you to recommend a business structure that might best suit their needs. To complete this part of the assessment, you will be required to complete research to allow you to answer the short answer questions below: Task 1 Research and analyse business structures- Before advising Anna and Cooper you are required to research different business structures (Sole trader, Partnership and Trust) and legal entities (Company), interpret your research to analyse the impact of legal issues including the ease of establishment, size, risk and complexity in running. Required: (a) Research areas of risk and analyse how legal issues impact on different types of business structures used in Australia including a Sole Trader, Partnership, Company and Trust. (b) Evaluate the relevance of your analysis to the client’s circumstances. Include your evaluation in Column 6 of the Table below. (c) Based on your evaluation formulates the recommendation you will give to the clients based on their circumstances and the relevant law. Task 2 Prepare a business report- Based on your recommended business structure in Task 1 above, prepare a short business report to demonstrate the plan for the new marketing business strategies to Anna and Cooper (the clients). You will use the report to discuss your research and recommendation with your supervisor, to seek advice and guidance (Part 2 Task 3) and to have a discussion with your clients explaining your strategy (Part 2 Task 4). Part 2: Research, recommend and update Scenario Anna and Cooper have returned to see you again and have asked for your advice. You have asked them background information before you can provide any advice. Anna and Cooper left their jobs at Creativity after a family argument and started their own firm on 5 January, 2019 following your previous advice to them. Anna had been working in the office of Creativity for last 10 years from the age of 14, where most recently she held a senior management position. Her brother Cooper had also been working with the business in the marketing division for 8 years since leaving school and was the head of the division. After your business structure recommendation, Anna and Cooper decided to incorporate a company to run their marketing business, Master Marketers Pty. Ltd. Anna and Cooper are directors and members of the newly formed company. They located suitable business premises and signed a lease agreement with Rain & Stars Pty Ltd, stating that lease would commence upon renovations that were expected to be completed by mid?February 2019. On 1 February 2019 Rain & Stars Pty Ltd advised Anna and Cooper in writing that they did not intend to complete the renovations as the economy was not what they had expected at this time. Anna and Cooper are very upset and distressed, as they will not be able to open their new business as expected. Anna left her mobile phone in the local coffee shop later that afternoon. She immediately posted signs offering a reward of $250 for anyone who returned her phone undamaged. Cosmos, the local café cleaner found the phone later that night in the course of his employment. He had not seen the poster for the reward of the phone. Cosmos returned the phone to Anna and claimed the reward. Finally finding new business premises to lease, Anna and Cooper opened their new business on 1 May 2019 (10 weeks later than expected) as Master Marketer Pty. Ltd. They immediately commenced an intensive marketing campaign to try and boost their client base as the unexpected delay in opening had really hurt them financially. As part of their marketing campaign they engaged in print media, radio, television, social media and letter writing campaigns, including writing to all businesses (including some of Creativity’s clients) in the area. As a result of the intensive marketing campaign the business client base grew rapidly including several of Creativity’s top clients. Their newspaper advertisements stated: “*FREE social media marketing for all new clients until 30 June, 2019. Conditions apply.” The conditions attached to the offer were not displayed on the same page as the advertisement and provided that a $300 design fee related to any social media marketing. When they started working in the family business, they both signed employment contracts which contained the following term: “The employee agrees that upon ending their employment with Creativity, they shall not for a period of 5 years after his/her termination engage in any employment involved in any managerial or marketing capacity with any company, anywhere in Australia that may compete in the same industry as Creativity. The employee also agrees that upon termination of their employment they will not seek to solicit any of Creativity’s customers or other staff members”. Anna and Cooper have also just received a letter of demand for rent from Rain & Stars, demanding payment of rent from 15 February 2019. You are to advise Anna and Cooper if they are required to continue with this lease, on account that the renovations were not completed and they were advised that Rain & Stars had no intention of completing them. Anna and Cooper have asked for your advice. You have explained to them that you need to research some areas to make sure there are no changes to existing law/new laws and you will provide them with up to date and accurate advice. Required: Complete the following four tasks, ensuring you research relevant laws with reference to cases where applicable. This task requires you to review the client’s circumstances and the relevant consumer and contract law, apply the law to the client’s circumstances and advise the client. Task 1- (a) Identify information to guide research: Using the information in the scenario above, identify issues relevant to contract and consumer law, collate and process this new information to guide your research to gather further information to provide advice to the clients. (100 – 150 words) (b) Collect and collate client’s available information for analysis. Collect any additional information you would need from your client to identify the client’s circumstances and to inform your research of their circumstances. Record that additional information here and combine it with relevant information extracted from the client scenario. Task 2 Plan and manage tasks and conduct research and develop solutions- (a) In Task 1(a) you identified legal issues relevant to contract and consumer law that related to your client’s circumstances. Task 2 requires you to develop a plan to manage your review of legal sources relevant to those issues and conduct that review. Create a plan itemising the tasks you will need to complete in order to manage your review. Include in your plan the legal sources you will access that relate to the issues you have identified and explain how this plan might contribute to achieving your broader goal of providing advice to your clients (b) Research information and analyse relevant legal sources that relate to the client’s circumstances and detail the aspects of contract and consumer laws that relate to the client’s circumstances. (600- 800 words). In your answer include details of the legal sources you used to conduct the review and the date the sources were accessed. If an internet source is included, name of the source (e.g. website title) and the URL should be included. Task 3 Develop solutions and recommend changes- Based on your review in Task 2, what solutions would you recommend to your clients to address their legal issues? What recommendations would you make to your clients about the issues that have arisen relevant to contact and consumer law? Summarise the outcomes of the recommended changes. (600-700 words) Task 4 Advise clients about risks and their management- Write a letter to Anna and Cooper explaining the areas of risk to their organisation that arise from their circumstances and how these can be managed. (600 – 800 words) Required: Your advice must be based upon your review and consolidation of all relevant information and must apply relevant legal principles and legislation. In addition, your letter must: include the following: a summary of client circumstances and the legal issues raised; an analysis of each issue and the risk to business operations with reference to legal principles and relevant legislation; presentation of advice to the client on solutions to the legal issues after a review of all research and relevant information; and recommendations as to changes to business operations to address risks raised by the legal issues.
Subject Name: Business Law
Level: Postgraduate
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