I’m working on a Business exercise and need support.
2 Corinthians 6:14 CSB says “Don’t become partners with those who do not believe. For what partnership is there between righteousness and lawlessness? Or what fellowship does light have with darkness?”. Initially my thoughts when reading this verse were, we should not partner with Paul at all. I realized I was being judgmental about Paul and that Jesus hung out with the sinners and tax collectors. He is hanging with them to reveal their sin, bring them to repentance, and to follow God’s word (Revelation.co, 2015). He calls us to love and witness. He calls us to pray. He calls us to be kind to all. But Jesus never commands us to become entangled in a close fellowship with those who reject His truths (Revelation.co, 2015). Therefore, I feel as though we could use his expertise in hospitality industry to help the business and witness to him and pray for him in the process.
I feel as though due to the differing beliefs and to protect the family land the business should be an LLC. The brothers would be able to set forth the internal rules for the actual operation of the entity through the operating agreement (Katz & Melvin, 2017, p. 472). An LLC is a sovereign legal being, and as a legal form, the LLC can own property and enter contracts distinctly from its owners (Upcounsel). LLC members normally are not personally liable for any of the LLC’s debts or obligations (Upcounsel). A general partnership operates through its owners’ names (Upcounsel, n.d.). General partnership partners are personally liable for the partnership’s debts and other obligations (Upcounsel, n.d.). If a partnership has assets or owes money, the same goes for the partners (Upcounsel, n.d.).
In partnerships and LLCs, the profits and losses are passed straight to the owners. Partnerships and LLCs offer no stock and have no stockholders (Upcounsel, n.d.). In both multimember LLCs and general partnerships, the division of profits and losses are similar (Upcounsel, n.d.). Partners typically regulate profits and losses based on the percentage or value of capital that each individual contributed to the business (Upcounsel, n.d.). Additionally, LLC owners and partnership members have the flexibility to enter into agreements that will distribute profits and losses in such a way that will benefit their own specific business model (Upcounsel, n.d.) .