New Limited Liability Company Of Granite Cleaning Product Essay

New Limited Liability Company Of Granite Cleaning Product Essay

Length: 1099 words (3.1 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

As the new limited liability company of granite cleaning product, the client and our CPA firms have to follow many duties and liabilities because the members are involved in decision making and are in possession of fully control. When running an LLC or any other entities, it is required that every company is responsible for having a director, officers, and members. Their members are not liable for obligations of the LLC essentially on the grounds that they are individuals. As I mention earlier, the client has to file the article of the organization, which determined whether the LLC will be managed by the members or managers. Hopson’s said that if the LLC is going to have passive investors or is operating multiple ventures that require different managers, owners should consider a manager-managed LLC that specifies the authority of the manager and members in the regulations and the operating agreement. Because an LLC offers flexibility in distributing profits and losses to its members, the agreement needs to be very specific about how distributions are made; they can be based on ownership percentage, the amount of work a member performs for the LLC, a combination of work and ownership, or other distribution formulas (2014, p.43). Washington State Legislative indicates that, except as provided in a limited liability company agreement, a member or manager may lend money to, act as a surety, guarantor, or endorser for, guarantee or assume one or more specific obligations of, provide collateral for, and transact other business with a limited liability company and, subject to other applicable law, has the same rights and obligations with respect to any such matter as a person who is not a member or manager (1994, sec. 25.15.035).
The li...

... middle of paper ...

...tion, and subordination of the LLC 's advantage to those of an offshoot of a part and discovered truth issues existed as to these ruptures of guardian obligation claim
The other duties of the limited liability company fall under the law of the business entity. The board of director has the obligation to deliver an annual report after the commissioner examined it within six months. After that, make sure to prepare a business plan for the next year. The director should also prepare and maintain confidential registration information regarding the shareholders of the share ownership. Then, archive the resolutions of the shareholders and the Board of Directors of the Company and all other corporate documents. Make sure to attend and set up the meeting regarding this business and record and keep notes of all the important information for the business such as the finances.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

New Product Marketing Essay

- In Japan, many homes have an electronic toilet seat rather than the conventional ones we use in the United States. The seat features an integrated, self-sanitizing bidet with a nozzle the size of a pencil that comes out from underneath the toilet seat and squirts water (adjusted to the user's comfort) to cleanse one' body after using the toilet. An attached blow drying unit eliminates the need for wiping with toilet paper. Users can adjust the water pressure, the temperature of the water, and the duration of the spray....   [tags: Business Market Analysis]

Free Essays
1157 words (3.3 pages)

The Implementation Of The Operating Agreement Essay

- The operating agreement is the members of LLC have a decision on how to operate the various aspects of the business (Miller, 2014, p.41). It is simply a contract. The LLC operating agreement must accommodate setting up sub-LLCs. Many states do not require the operating agreement because LLC exist. With other states, the operating agreement should be written so their interest can be protected. According to Miller, operating agreement typically contains provisions relating to the management and how future managers will be chosen or removed, how profit should be divided, how membership interests may be transferred, whether the dissociation of a member, such as by death, will trigger dissolution...   [tags: Limited liability company, Corporation]

Better Essays
1268 words (3.6 pages)

Individual Campaign Analysis of Procter and Gamble Essay

- Mission: We will provide branded products and services of superior quality and value that improve the lives of the world’s consumers, now and for generations to come. As a result, consumers will reward us with leadership sales, profit and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper....   [tags: p&g, personal product market, unilever]

Better Essays
1427 words (4.1 pages)

Critical Success Factors For New Product Development Essay

- This essay is about what are the critical success factors in new product development. This will cover what the latitude say about the factors that determine new product success. The five most important success factors will be listed and evaluated. Conclusions will also be given as to what the overarching issue might be for executing the success factors. In today’s markets there are high levels of Competition in most areas. The introduction of new products is commonly viewed as a medium for profitably and growing the businesses (Yenipazarli, 2015)....   [tags: Marketing, Marketing research, Product management]

Better Essays
1255 words (3.6 pages)

Customer Satisfaction And Product Development Essay

- New product development is the process of introducing a diverse product in the existing, emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments....   [tags: Marketing, New product development]

Better Essays
1953 words (5.6 pages)

Use of Qualitative and Quantitative Research in New Product Development Essay

- There are many ways for the product manager (PM) to gather information on their way to creating a successful business plan to present to upper management to justify the funds and support for new product initiatives, projects and activities. The research methodologies of quantitative, qualitative and experimental research are important processes to assess, identify and refine the many variables which help define the path to decision-making for new product development, product lines and product portfolios....   [tags: product management]

Better Essays
860 words (2.5 pages)

Marks & Quot Public Limited Company Essay

- Assignment One Business Environment The two contrasting businesses described in this report will be, Marks&Spencers Public Limited Company (PLC) and Oxfam. Marks & Spencer 's was a start up retailing company founded in 1884. They originally started as a small stall in Kirkgate Market, Leeds however over the years they have successfully expanded as a well known brand and international retailer. Their main purpose is to make as much profit as possible while satisfying their customers with outstanding products....   [tags: Limited company, Corporation, Charitable trust]

Better Essays
1834 words (5.2 pages)

The Challenges Of New Products And Services Development Essay

- Nowadays, innovation and new product development (NPD) could be considered as an effective strategy for organisations to gain high competitive advantages over its competitor. This strategy has supported companies to satisfy customer requirements individually. Nevertheless, it could also create the challenges as well as the risks which could support or hinder the achievement of companies (Bolumole et al., 2014). This paper will discuss on the challenges of new products and services development. It would also illustrate the challenges and risks associated with developing new products and services....   [tags: Innovation, New product development, Revenue]

Better Essays
1000 words (2.9 pages)

Developing a New Product Essay

- My innovative business idea concerns the introduction of a new product in the market which is aimed at reducing the deaths of American soldiers during war together with other innocent civilians. The product shall be marketed under the brand name “Sham-lethal detector”. A lot of research will be put in the development of the device which utilizes the latest technology. In addition, the product will not only be able to detect explosive devices but also landmines that are mostly found in war torn areas especially Iraq and Afghanistan....   [tags: Business Product Development]

Better Essays
1946 words (5.6 pages)

Essay about Analysis of The Limited, Inc.

- Analysis of The Limited, Inc. History The Limited, Inc. was founded by Leslie H. Wexner on August 10, 1963, beginning with one store located in Columbus, Ohio. During its first year in operation, this store achieved sales of $157,000. His strategy was to provide a "limited" assortment of quality, fashionable sportswear at medium prices. The "limited" concept worked well and by the late 1970s, Wexner began a twofold strategy of market development and product development. New stores were opened and acquired an appeal to women of different ages, sizes, and budget limits....   [tags: The Limited Retail Consumerism Clothing Essays]

Better Essays
4511 words (12.9 pages)