Evaluate the following scenario and determine why the
particular form of business organization should be used
Define the form of business organization currently used
Discuss the advantages and disadvantages of this form of
business organization
Define at least two alternative forms of business
organization
Discuss the advantages and disadvantages of these forms of
business organization
Choose a form, justifying your selection with adequate
discussion
Discuss why the alternative form is not as well suited
Consider some of the legal problems associated with the type
of business involved. Provide citations to support your answer.
Conway just received his contractor’s license in the state
of Virginia. For years, Conway did light construction work for a few commercial
accounts. He was very successful and had enough clients to keep him busy, along
with his father and brother, working six days a week. Occasionally, a client
would hire Conway to do a substantial amount of carpentry work for an entire
business. Conway has purchased a substantial amount of property. He intends to
create an upscale neighborhood containing houses valued in the $200,000 range.
He realizes that he will have to borrow heavily to construct the first few
houses. At present, Conway’s business operates as a sole proprietorship. Should
Conway continue to operate his business as a sole proprietorship? Should he
operate his business as a partnership? Explain why or why not.
