Legal Forms of Business

Legal Forms of Business

Credibility

Explanation

Choosing a business form to pursue is one of the essential decisions executive leaders have to make. The choice is crucial because it determines the activities the business can or cannot pursue (Nevada SBDC, n.d.). Legal business forms also determine a business’ tax responsibility and whether or not it can be pursued. The primary business forms in the order of sophistication include sole proprietorship, partnership, corporation, and limited liability companies. It is not clear which of the four business forms is the best, but sole proprietorship and partnerships do not offer limited liability protection, hence not preferred (Reuting, 2014). The others, corporations and limited liability companies (LLCs), differ in how they are taxed, with corporations offering more taxation options than LLCs.

Determining the Credibility of the Sources

Timeliness is one of the factors used to ascertain the credibility of academic sources. Credible academic sources ought to be as recent as possible to ensure that the information included is up to date. Since this research is about legal business forms, credible sources must include updated information from the sources used.

The authority of a source also determines its credibility. Regarding this case, government sources and corporate law dedicated sources are more credible since they offer perspective. Also, peer-reviewed articles and those whose authors’ credentials are listed offer highly credible information.

Finally, sources that were most relevant to the topic under study scored highly on credibility. Apart from responding satisfactorily to the question, their abstracts and summaries offer sufficient information relating to business forms.

Areas of Improvement

To ensure a critical evaluation exercise or research is reliable, there is a need to spot potential biases. Articles and newspapers are educative and engaging, but they sometimes fail to give full details about a trend or a story. For instance, a story of a business entity that grew without utilizing technological solutions may be fascinating, yet it is just an exception to a growing trend. There will be a need to focus on the author’s credentials and the source To avoid biases.

Moreover, taking advantage of the ‘next step opportunities’ will come in handy. Next step opportunities, in this case, refer to future trends in research. For instance, social media is becoming a reliable business-based research source since information is published in real-time. Besides, social media platforms have critical mass followers from all spheres of life.

References

Hurth, E. (2006). Advantages and disadvantages of different forms of industrial action.

Nevada SBDC. (n.d.). (800) 240-7094. https://nevadasbdc.org/wp-content/uploads/2010/11/forms_business_ownership.pdf

Reuting, J. (2014). Limited Liability Companies For Dummies. Hoboken, NJ: Wiley

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

Legal Forms of Business

Overview
The purpose of this assignment is to explore the extent to which the Internet can provide useful information.

The question you are trying to answer is, What are the different legal forms of business, and what are the advantages and disadvantages of each, including liability issues?

Complete the four parts in order.

Part 1: What’s Out There?
Search the Internet.

Formulate questions or phrases designed to generate keywords that might inform this issue. For example, if you are trying to determine how using a corporate form of business affects personal liability, your keywords might be personal liability and corporations.
Use any search engine (Google Scholar or other) and use as many different keywords, phrases, or questions as you would like to come up with at least 10 possible sources that specifically address the topic statement listed above. This assignment asks you to do the “legwork” necessary to come up with an answer to this topic statement by developing your own list of the top three sources that could help you answer this question.
Part 2: What’s Useful?
Evaluate each source that you find to determine whether that source helps you answer the question. Ask yourself if it really attempts to answer the question and if it does, what answer it provides.
Part 3: What’s Credible?
Evaluate each source to determine whether you trust it. Use the guidelines in the Internet Research tab of the Undergraduate First Course Research Guide to help you decide how credible each resource is.
List all of the resources you found in order of their credibility, starting with the most credible sources. You will need to end up with at least three that you trust. If you have fewer than three, go back to Part 1 and work through the process again until your list of credible sources totals at least three.
Use consistent formatting to list your resources. In Unit 6, you will learn APA formatting for citations and references. While APA formatting is not required for this assignment, using it will give you the opportunity to earn a “Distinguished” rating on this criterion (see the Legal Forms of Business Scoring Guide).
Part 4: What to Turn In
Prepare a three-column chart with the headings Sources, Relevant (yes or no), and Credibility Rating (1–10), with 1 being the most credible. Include all of the sources you found. (See the Evaluating Sources Chart Example linked in the Resources.)
Provide a short explanation (one page or less) that describes what you learned from this assignment, including:
How and/or where can you find potential answers to the question listed above?
Ideas about what you might do differently if you had a similar assignment in the future.