Read the scenario below, create a legal opinion memo, and answer the prompts listed after the scenario.
You converted your family business into a corporation. Your family consists of your spouse and 2 adult children. You’ve authorized 25% shares to each family member. You and your spouse created the business when the kids were young. Your business philosophy and strategy is to focus on local clients, build up referrals, and avoid mass marketing because money is not everything. However, your millennial adult children believe that mass marketing and social media will take the business to a national, if not, global level and increase profits exponentially. At the next business meeting, the corporation (your family) must decide on a marketing plan for the next 5 years. You and your spouse have 50% of the vote and your kids have the other 50% of the vote. What do you do?
Create a memo and answer the following (write the prompt and then your answer). Minimum 4 sentence response for each prompt. Your responses should be clear and direct.
- Issue: state the question/describe the problem objectively for each party involved.
- Solutions: state the desired result for each party involved.
- Outcomes: state what you think will happen if each party obtained their desired result.
Sample Solution
