University of PhoenixThe entity business plan that will be discussed in this paper will be the Sports Franchise Bar. The name of the franchise will be called Batter's Up 4 Touchdowns or BU4Ts for abbreviated purposes. The business plan will be presented in this paper. It will show the planning, the research and the necessary forms needed for BU4Ts. It will also discuss the impact of a global legal environment and how to manage this effectively along with how the different organizations thrive in such an environment.
OrganizationsCorporations are one of the most common and prevailing organizations. Corporations are prevalent in the legal global environment. Although other organizations such as sole proprietorship and partnerships exist and can be honorable organizations, they are not always the best organizations for the global environment. These types of organizations often lack the resources, financing and power of the big corporations to survive in the global environment.
Corporations are able to have the latest up-to-date technology, the best legal representation and world-wide available resources. The BU4Ts is a franchisor and will have franchises. "A franchise is established when one party (the franchisor, or licensor) licenses another party (the franchisee, or licensee) to use the franchisor's trade name, trademarks, commercial symbols, patents, copyrights, and other property in the distribution and selling of goods and services. Generally, the franchisor and the franchisee are established as separate corporations." (Cheeseman, 2007). Legally, a franchise is considered an independent contractor. This means that although the franchisees may have BU4Ts' trademarks, trade secrets and services, the franchisees are liable for their own negligence and contracts.
InternationalThe international market is an excellent means for franchisees to expand without having the large investments that would normally be required. A foreign franchise would have the tools, background and the people to facilitate the cultural...