Acme Fireworks
Acme Fireworks
Margaret E. Bridges
Brian Lahargoue
BUS 311 Business Law 1
Growing Acme Fireworks There is much to consider when expanding a business. How will you make, market, and distribute your product. Are you willing to take full liability for your product and understanding the legalities of what happens if your product is defective? Once that has been established, it’s important to make sure that your business dealings are in order. The strength of the contract and what all it entails. Knowing that the legal document is important more so when things tend to go downhill. Above all is deciding which type of business entity the company will select especially if the company starts out small and looks to expand. Which entity will best serve the growth of the company such as Acme Fireworks? Some years ago I watched a movie called fight club. The movie dealt with a ton of social issues. One of the characters worked for a car company that would fly out their employers out to the areas where there were car accidents. They worked almost as an insurance adjuster that would come and appraise a vehicle once it has been in a wreck and determine, based on the damages how much they would award the car owner. However in the case here the employees would view accidents all over the country and decide if it would cost more to recall the product or pay the total fee for the said accident. If the cost was too much to do a recall then the company would take responsibility for the accident if a law suit is brought forth, however if it is cheaper to recall then the necessary actions would be taken to recall the malfunctioned part. Knowing this it is important that we label the products and its proper uses so if there is an issue then it can be said that the manufacture warned the consumer. In this way, any injury would not be the fault of Acme Fireworks, but the consumer. Just as the example with the cars above, if someone lights a
Margaret E. Bridges
Brian Lahargoue
BUS 311 Business Law 1
Growing Acme Fireworks There is much to consider when expanding a business. How will you make, market, and distribute your product. Are you willing to take full liability for your product and understanding the legalities of what happens if your product is defective? Once that has been established, it’s important to make sure that your business dealings are in order. The strength of the contract and what all it entails. Knowing that the legal document is important more so when things tend to go downhill. Above all is deciding which type of business entity the company will select especially if the company starts out small and looks to expand. Which entity will best serve the growth of the company such as Acme Fireworks? Some years ago I watched a movie called fight club. The movie dealt with a ton of social issues. One of the characters worked for a car company that would fly out their employers out to the areas where there were car accidents. They worked almost as an insurance adjuster that would come and appraise a vehicle once it has been in a wreck and determine, based on the damages how much they would award the car owner. However in the case here the employees would view accidents all over the country and decide if it would cost more to recall the product or pay the total fee for the said accident. If the cost was too much to do a recall then the company would take responsibility for the accident if a law suit is brought forth, however if it is cheaper to recall then the necessary actions would be taken to recall the malfunctioned part. Knowing this it is important that we label the products and its proper uses so if there is an issue then it can be said that the manufacture warned the consumer. In this way, any injury would not be the fault of Acme Fireworks, but the consumer. Just as the example with the cars above, if someone lights a