Instructions Ted Brown and Jim Green have been discussing going into business together for several months, and they are anxious to start that business before the end of this month. However, both Ted...

Running Head: BUSINESS LAW                                1
BUSINESS LAW                                         6
BUSINESS LAW
Table of Contents
Answer 1    3
Answer 2    3
Answer 3    4
Answer 4    5
Answer 5    6
References    8
Answer 1
Ted Brown and Jim Green have jointly decided to develop an app. This form of business law is framed under the partnership rights. Both Theodore Brown’s son and James Green's son can make important decisions on behalf of their fathers. This can be viewed as the true test of partnership. The test can help to determine whether Mr. Brown and Mr. Green form a partnership or not (Kirin, Hryshchak & Illarionov, 2020).
The partnership law helps to recognize the inheritance of the firm and keep them separated from the third parties. The partnership law determines the real relationship between each partner and clarifies the share of the business. The agreement or the contract between the parties is the main reason, which can be attributed to the cause why their sons can decide on their behalf. It is mandatory for the partnership not to arise family status and operation of law.
There are legal provisions about the entrance of minors into a partnership. A minor can only be a party to a contract. The minor is barred from being a partner in the partnership. The minor can admit to the benefits of a partnership. Consequently, the sons can enjoy all the advantages of partnership right.
Answer 2
When Theodore and James decide to take on the business decisions from their fathers, they become liable to the partnership law. Both the partners are expected to maintain good faith. The major challenge for them is to indemnify loss. Attending all the duties diligently is the main duty towards their fathers (Giorgi, Lavagna & Campioli, 2019).
It is also important to share the losses and not succumb into illogical arguments. The sons should be responsible to hold and use the property of the firm. Theodore and James will be accountable for the private profits. The profits of a competing firm should be a major focus. The sons are expected to act within their authority.
Answer 3
Theodore and James have to be very cautious while choosing a business model to develop the apps. There are different types of models available to build a mobile application. It is important for them to decide, which model. The most preferred business model to develop an app is Freemium. It is the best way to monetize the app by offering it to the users for free. There is also the existence of Freemium apps that allow multiple purchases.
The most important factor to consider while developing a business model is scalability. Scalability states that increasing output does not imply increasing inputs. Every successful entrepreneur is known to emphasize on scalability. Scalability involves growing the revenue for the business and efficiently reduces the cost to the company. A business model, which flourishes under the concept of scalability, can never be...