Due to some confusing language in the Final Project directions, kindly use the following directions instead. If you have any questions, please let me know.
For the Final Presentation, which is due at the end of Module 7, you are doing three things:
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1) Revision of Milestone 1: Students are to implement corrections/suggestions made in the feedback provided for their first Milestone. You may submit the Milestone as is, or with the corrections. Please indicate what changes you have made.
2) Revision of Milestone 2: Students are to implement corrections/suggestions made in the feedback provided for their first Milestone. You may submit the Milestone as is, or with the corrections. Please indicate what changes you have made.
3) Complete Milestone 3: You probably covered most of this in Module 6’s DB, so just incorporate that discussion in your answer here! Be sure to elaborate and explain.
Here are the complete directions for Milestone 3:
Jeb and Josh are lifelong friends. Jeb is a wealthy wind-power tycoon, and Josh is an active outdoor enthusiast. They have decided to open a sporting goods store, Arcadia Sports, using Jeb’s considerable financial resources and Josh’s extensive knowledge of all things outdoors. In addition to selling sporting goods, the store will provide whitewater rafting, rock-climbing, and camping excursions. Jeb will not participate in the day-to-day operations of the store or in the excursions. Both Jeb and Josh have agreed to split the profits down the middle. On the first whitewater rafting excursion, a customer named Jane falls off the raft and suffers a severe concussion and permanent damage to her spine. Meanwhile, Jeb’s wind farms are shut down by government regulators, and he goes bankrupt, leaving extensive personal creditors looking to collect.
Specifically, the following critical elements must be addressed in Milestone 3:
1) Identify the main types of business entities and discuss the advantages and disadvantages of each.
2) Recommend a specific business entity for Arcadia Sports and include your reasoning.
3) Based on the characteristics of each type of business entity, determine the type under which Jeb and Josh would be personally liable to Jane for damages.
4) Based on each type of business entity, analyze the ability of Jeb’s personal creditors to seize the assets and/or profits of Arcadia Sports.