Brown and Green have a concept for a new survey measuring instrument based on their many years in the Civil Survey field. They want to establish a business to raise capital, design,manufacture, and market this new instrument. Both Brown and Green are well established, are in their mid-50s, and have no family members who would be prepared to take over the business when they are ready to retire in about 10 years.
What form of business would the two entrepreneurs choose if they wanted the easiest and lowest-cost way to get it off the ground?
Brown and Green have a concept for a new survey measuring instrument based on their many years in the Civil Survey field. They want to establish a business to raise capital, design, manufacture, and market this new instrument. Both Brown and Green are well established, are in their mid-50s, and have no family members who would be prepared to take over the business when they are ready to retire in about 10 years.
What form of business would they choose if they wanted to ensure their personal assets would be available when they are ready to retire?
Brown and Green have a concept for a new survey measuring instrument based on their many years in the Civil Survey field. They want to establish a business to raise capital, design, manufacture, and market this new instrument. Both Brown and Green are well established, are in their mid-50s, and have no family members who would be prepared to take over the business when they are ready to retire in about 10 years.
If Brown and Green had assets and needed to raise money for their new venture, which form of business might make it easier to obtain a bank loan?
Brown and Green have a concept for a new survey measuring instrument based on their many years in the Civil Survey field. They want to establish a business to raise capital, design, manufacture, and market this new instrument. Both Brown and Green are well established, are in their mid-50s, and have no family members who would be prepared to take over the business when they are ready to retire in about 10 years.
Once the business is running and profitable, which business form facilitates getting money out of the business while maintaining the business as a going concern?
Brown and Green have a concept for a new survey measuring instrument based on their many years in the Civil Survey field. They want to establish a business to raise capital, design, manufacture, and market this new instrument. Both Brown and Green are well established, are in their mid-50s, and have no family members who would be prepared to take over the business when they are ready to retire in about 10 years.
In your opinion, is there justification for starting up with one business form and converting to another form later?
You are a member of OACETT, a principal in XYZ Company and also a member of a city council. The city council approves appropriations for projects undertaken by the city. One such project is an energy conservation project with a large potential reduction in energy costs. XYZ Company has established a good reputation in the energy conservation field. XYZ Company has submitted a proposal to the city council to provide services for this project under consideration.
Which OACETT Code of Ethics principle is most relevant in a situation where an engineering technologist is both a principal in a private company and a member of a city council, which approves funding for projects?
