MGMT 3100 Lecture Notes - Lecture 10: Internet Service Provider, Title Insurance, Software
9 May 2016
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3 of 4 short answer (5 marks each) 2 of 3 case problems (10 marks each: likely to involve multiple issues. For the exam, know key statutory provisions: don"t have to memorize the actually statute, but know general idea, statute name s. # Exam case answer: identify main legal issue/issues, discuss relevant legal principles, apply principles to salient facts of the case. > what each person would argue or take one position: reasoned outcome. Opening a business on your own: keep 100% of revenue, keep start up costs down, full decision making power, reducing risk caused by mistakes of others, no need to trust others. Opening a business with others: shared liability corporation (limited liability, pooling substantive skills, greater collective capital resources (start up costs & ongoing costs) Which one is best depends on the circumstances. Can have a partnership of corporations: limits the personal liability. Partners share profits, as a result of the collective energies to generate profits.
