You have incorporated a business which a pack of Tommies now seeks to take over. You oppose this and also feel that the Tommies should use their "education" and start their own business instead of taking the easy way by trying to acquire your successful business. However, your shareholders have been offered a higher than market value for their shares by the aggressor. Briefly describe your duties and responsibilities as an officer/board member to your shareholders. 2 Based upon the price offered by the Tommie group, your shareholders appear to be in favor of this take-over. Identify and describe (6) methods that would enable you to effectively resist the take-over.

1. What does the initial franchise fee cover? Does it include a starting inventory of supplies and products? 2. How are the periodic royalties calculated and when are they paid? 3. Are all trademarks and names legally protected? 4. Who selects the location of your business? 5. Are you assigned an exclusive territory? 6. If the territory is not exclusive, does the franchise have the right of firstrefusal on additional franchises established in nearby locations? 7. Is the franchisee required to purchase equipment and supplies from the franchisor or other suppliers? 8. Under what conditions can the franchisor and/or the franchisee terminate the franchise agreement? 9. Can the franchise be assigned to heirs? 10. Who provides and pays for advertising and promotional items? Conclusions: Now that you have researched this company, do you think that buying this franchise would be a viable option for you? Share your findings in a two-page report.

Compare the advantages and disadvantages of the corporation versus the partnership

Define public limited liability business with appropriate examples. Briefly explain three main characteristics of a public limited liability business?