Legal, Ethical, and Regulatory Issues in Business Case Study - 1

Legal, Ethical, and Regulatory Issues in Business - Case Study Example In most case profit of the company is always shared with respect to the ratio of capital contributed by the partners into the business and the same case applies to sharing of loses. All partners in general partnership have equal right towards decision-making considering that each partner equally participates in management and control of the organization affairs. 2. It is noteworthy that the general partnership has unlimited liability and as such failure of the company to clear its debt obligations the personal property of the partners will be confiscated by the creditors (Cheeseman & McDonald 86). John Albert and Matthew Baker will be directly liable for all the liabilities of Lending Store. Failure of the general partners to clear the claims of the creditors will certainly make them lose their personal property to settle the debt. This means that the liability of general partners is a direct responsibility of the partners and as such, the partners must stand up for the responsibilit ies once they occur. 3. Forming a corporation involves many paper work and legal requirements unlike partnership and sole proprietorship. The first step in forming a corporation in Arizona starts with searching for a business name. The chosen name must be checked with the registry to ensure that it is not used by another company or does not infringe another company’s name or trademark. The second step involves registering the business name. The third step involves choosing of directors who can make vital policies and financial decisions such as authorizing stock issues. The fourth step involves filing the corporation’s â€Å"articles of incorporation† with the Arizona state corporate filing office. The fifth step involves writing the corporate by-laws. The corporate by-laws are the guiding principles of the daily affairs of the organization. The sixth step involves creating a â€Å"shareholders’ agreement† which helps the owners address various cor porate issues such as voting rights, and intellectual property rights. The next step involves convening the first meeting of the board of directors. The seventh step involves issue of certificates to the equity owners. This stage is important because a corporate is required not to commence business before officially dividing owners’ interest in the organization. The next step involves obtaining business licenses and permits for the corporation from the relevant authorities that is federal government, state of Arizona and the local government. Then afterwards a business can begin operations. 4. Once Albert and Baker have formed a corporation, the company will be personally liable for its own liability. This means that Albert and Baker will not be personally liable for the debt of the organization. This is because corporate bodies normally have a separate life from its owners and as such, it can operate everything that a human being does on its own. In other words, corporate bo dies are artificial persons and as such, they can sue or be sued for failure to honor their obligations. The liability of the corporate owners is limited to the amount of money they have contributed towards acquisition of company assets and other investments (Cheeseman & McDonald 112). Albert and Baker are cushioned from the loss of personal property whenever the company fails to honor its debt obligation by the amount contributed they have to the company

Single Nucleotide Polymorphism (SNP) in Prion Protein Alleles renders Essay

Single Nucleotide Polymorphism (SNP) in Prion Protein Alleles renders susceptibility or resistance to Natural Scrapie in sheep - Essay Example Among these 3 codons there are 5 alleles generated that causes resistance and 3 alleles generated that causes susceptibility to the disease. Therefore, genotype of the breeds may dictate susceptibility or resistance to scrapie. Scrapie can be highly infectious and transmissible among similar species. But being a genetic disease, only individuals that are susceptible in the prion protein (PrP) gene could be infected, regardless of any environmental factors. The objective of this research is to analyze each species genotype as to their genetic make up for alleles. Single nucleotide polymorphism (SNP) in the genotype of the three codons mentioned earlier, renders sheep susceptible or resistant to the disease. The research will involve the genotypic comparison of two breeds of sheep: The Awassi flock and The North Country Cheviot flock, to see which genotype of the two breeds resembles the disease allele the most. DNA extraction and amplification will be done through PCR amplification. F urthermore, identification of the nucleotide sequences that closely resemble those of the disease allele will be determined using methods of restriction enzymes and specific primer binding sites. PROJECT SUMMARY The purpose of this study is to identify sheep susceptibility and resistance for scrapie from two different breeds based strictly on genotypic variations due to single nucleotide polymorphism (SNP) at codons 136, 154 and 171. The primary reason for carrying out this research is to increase awareness about the fatal neurological disease in order to encourage farmers and breeders to take proper measurements in identifying the correct symptoms and to use proper sterile techniques to minimize transmission of the disease from environmental factors. More drastically, with no treatment or cure for scrapie, breeders can anticipate selective breeding to eradicate scrapie by mating a resistant ram (ARR) with any ewe. Thus, it will assure a resistant genotype for scrapie in the offspri ngs. Although selective breeding showed to have a few successes in the past, the method is not guaranteed to work every time, since factors such as mutation and single nucleotide polymorphism (SNP) render the animal susceptible to acquiring the disease upon interaction. INTRODUCTION Scrapie is a dangerous, degenerative disease affecting the central nervous system (CNS) of sheep and goats. The disease is also referred to as la tremblante (French: trembling), Traberkrankheit (German: trotting disease), or rida (Icelandic: ataxia or tremor) (Detwiler 1992). The disease was first recognized as affecting sheep in Great Britain and other countries of Western Europe over 250 years ago. The earliest definite record of the incidence of scrapie was in Britain in 1732. Following this event, there were accounts of a scrapie-like disease occurring in the Dorset Horn, Wiltshire Horn and Norfolk Horn breeds in England between 1750 and the early 1800s. Scrapie progressed in becoming a major problem in the English Suffolk breed around 1950, leading to successive financial loss in flocks. In 1938, first report of the disease was identified in Canada and since then there have been over 167 flocks in 6 Canadian provinces with confirmed cases of classical scrapie (Plummer 1946). In general, there is a gradual development of clinical cases of scrapie that have been recorded in many regions around the world; notable exceptions are Australia and New Zealand. This is due