A: The most appropriate jurisdiction, in this case, is general jurisdiction. This is because Novelty has substantial systematic contacts that relate to the forum. Therefore, the court can apply the jurisdiction to the two parties. The state court has judicial power over a person who is affected by the state. The ‘long arm’ set rules and guideline to state on how they can exercise their constitutional power to oversee the conduct of non- citizens (Bachar & Hensler, 2017).
B: ADR is the process of settling disputes by other means other than the use of the court.
Advantages:
Disadvantages:
C: It will be in the best interest of Funny Face to negotiate terms straight with Mr. Margolin. This negotiation will subsequently assist keep this incident away from media. It would then permit Funny Face to correct action of placing the PYR chemical in product that FDA never approved.
D: The corporate officer is reliable for the criminal acts. This is because of the apparent negligence on the part of the management.
E: The classification of the criminal act committed by Funny Face / Novelty is called Infractions. This kind of crime causes less harm and includes minor offenses and they are mostly punishable by a fine. Donald Margolin only seeks for the compensation because of the negligence of the Novelty which only causes damage to his business reputation and face (face damage). This is a minor case. Funny Face advice products to the internet that causes harm to its customers (Mikula, 2017). The company should first confirm the quality of the products so as to ensure that all the products produced are safe for use by the general public. The error was due to negligence
F: As stated above both parties knowingly and willingly arrived at the decision of putting the PYR chemical inside the aftershave and then production process was to follow. Chris, Funny Face, Novelty, matt, and Ian should all be accountable to cover any of the Donald Margolin depend in this case. This is because they all come into agreement of making the products.
G: The ethical decision-making process under WPH (Whom, Purpose, How) guidelines consist of three major elements. An important set of ethical rules needs recognition that the top managerial decision must satisfy the following key criteria: The decisions affect specific groups of stakeholder in the processes of the firm (Meyerson, 2015). The appropriate question is, therefore, whom this would touch directly. The decisions are established in order to achieve a particular purpose. Business decisions are directed toward achieving an ethical end. The decisions should satisfy the standards of action which focused on business behavior (Ware, 2016).
Managers must put in place set guideline and rules for how to come up with ethical decisions. The WPH method of decision-making process had made me come up with the conclusion of many ethical issues in this case study. Whom; the decision only affects those who consume the products. Therefore, it was unethical putting the PYR chemical into the goods offered by the company (product). Purpose; the purpose was to reduce the cost associated with the production process, which led to the production of a harmful product by the company (Ray, Kennedy, Herring & Essary, 2015).
Case Study 2
Sole Proprietor Partnership: This puts all business liabilities for operations and finance on the proprietor. The business owners’ personal properties remain tied to his business and hence the owner assumes all risks against his personal property in case there is a financial hardship. The owner has to file self-employment taxes alongside yearly income tax returns on Form 1040. The losses and profits and reported via owner and remain taxed at individual rate It is the simplest entity to establish, however, the owner characteristically has to sell his business to regain his investment (Cindy, 2015). Advantages: Easy to start and maintain; owner and business are single entity legally; no fees in the creation and the owner could deduct a net business loss from his personal income taxes. Disadvantages: The owner is liable personally for all debts, business liabilities, and judgment; and owner has to pay taxes (personal income) for each net profit of the firm.
Partnership: It has two or additional owners who share equal controls unless the agreements indicate otherwise or structure is established as a limited one. Loses and profits of business flow to partners and become taxed at the individual rate. Operating partners always assume risk financially and legally. Creditors of the business are able to gather debts from a personal asset of the partner. A partner has to sell his interest to recoup the investment. Advantages: Easy to establish and maintain; no fees for creation; owners could report the share of net business loses on their personal income. Disadvantages: All partners remain liable jointly and personally for all debts, liabilities, and judgment. Owners have to pay personal income taxes for each business profit.
Corporation: It has unlimited owners/shareholders. Business is distinct from owners in financial and legal issues. Loses and profits are taxed at corporate rates. In case of profit realization, shareholders are paid and subsequently report it as income and subsequently pay tax at the individual rate. A shareholder has to sell his interest to recoup his investment. A shareholder can trade his shares in the publicly held corporation on the open market. Advantages: Owners enjoy limited liabilities for debts, liabilities, and judgment. Certain benefits could be deducted as expenses of the business. Owner and business could pay taxes with good accounting by splitting business profits. Disadvantages: Expensive to create and maintain, complex paperwork has to be filed with state secretary and has to pay its own taxes as distinct tax entry (Benefits and Drawbacks of Different Types of Business Entities, 2015).
Limited Liability Company: LLC is hybrid of corporation and partnership. Owners are safeguarded from liability (personal) as in the corporation. However, owners benefit from tax in similar manner a partnership enjoys. LLC is never perceived as business kind for taxation purposes by the government (federal). LLC business has to file its taxes using his chosen acknowledged structures. The owner must file form 8832 with IRS (Internal Revenue Service) to alter LLC classification. Advantages: Owners enjoy limited liability for debts, liabilities, and judgment even where they engage in substantial business control; business losses and profits are allocated to owners based on dissimilar lines compared to ownership interest. Owners are able to select how LLC shall be taxed, either as done in partnership or corporation. Disadvantages: Costly to establish compared to sole proprietorship or partnership.
References
Bachar, G. J., & Hensler, D. R. (2017). Does Alternative Dispute Resolution Facilitate Prejudice and Bias: We Still Don’t Know. SMUL Rev., 70, 817.
Benefits and Drawbacks of Different Types of Business Entities. (2015, May 19). Retrieved from https://smallbusiness.findlaw.com/incorporation-and-legal-structures/benefits-and-drawbacks-of-different-types-of-business-entities.html#sthash.CXkwh2Bh.dpuf
Blake, S. H., Browne, J., & Sime, S. (2016). A practical approach to alternative dispute resolution. Oxford University Press.
Cindy, P. (2015). The Three Types of Business Entities in Accounting. Retrieved from https://smallbusiness.chron.com/three-types-business-entities-accounting-10242.html
Delgado, R. (2017). The Unbearable Lightness of Alternative Dispute Resolution: Critical Thoughts on Fairness and Formality. SMUL Rev., 70, 611.
Fiadjoe, A. K., & Okyir, N. T. (2016). The Alternative Dispute Resolution Act of Ghana Deconstructed: Providing a More Positive-Sum Approach to Conflict Resolution. Transnational Dispute Management (TDM), 13(4).
Kubasek, N. (2011) . Dynamic Business Law . Mc Graw,2011. 2nd Edition
Lee, C. K., Yiu, T. W., & Cheung, S. O. (2016). Selection and use of alternative dispute resolution (ADR) in construction projects—Past and future research. International Journal of Project Management, 34(3), 494-507.
Meyerson, A. L. (2015). Alternative Dispute Resolution. GPSolo, 32, 6.
Mikula, S. D. (2017). Alternative Dispute Resolution. The Catholic Lawyer, 33(1), 11.
Pryor, W. (2017). Alternative Dispute Resolution. SMU Annual Texas Survey, 3(1), 3.
Ray, A., Kennedy, R. B., Herring, S. D., & Essary, M. (2015). Alternative dispute resolution (ADR) versus the court system. Journal of the Alabama Academy of Science, 86(2), 125-126.
Resolution, D. (2013). Alternative dispute resolution.
Ware, S. (2016). Principles of alternative dispute resolution. West Academic.
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