The concept of limited liability is an important aspect to consider as it influences the business structure of a company based on the legal structures within the company. Undertaking a proper analysis on the legal aspect of a company helps in ensuring that the company is in a position to maintain ethical considerations and overcome any ethical dilemmas that hinder proper development of a given business entity (Leuciuc, 2016). The concept of limited liability helps in defining significant decisions that relate to the amount of taxes payable in a given business and the amount of paperwork that is required to be undertaken by a given business to make the business operations adequately. Business professionals in a given business entity assist a business in ensuring that a given company focus on understanding the concept of limited liability to develop an understanding on the legal aspect within a business that may help in dealing with ethical issues in the business (Kray, 2010).
In an evaluation of Trump University, it is clear that there are ethical issues that influence the formation and running of business entity in a bid to ensure that all the stakeholders involved in the business can experience positive business relations in the given company. Based on the fact that president Trump chooses to pay for a settlement rather than litigate the case creates a major ethical dilemma in the given organization. The ethical dilemma, in this case, arises considering that the settlement focused on ending a fraud case concerning defunct real estate seminar program. The legal structure of a business maintains that such issues in a given business environment should be solved amicably using the legal process to ensure that justice is maintained in a given case (Gilstrap, C., & Minchow-Proffitt, 2017). The president implemented vital ethical frameworks to overcome the ethical dilemma involving the fraud case in the university. The ethical frameworks incorporate defining whether it is morally and ethically correct to settle the case without necessarily undertaking a legal process.
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References
Gilstrap, C., & Minchow-Proffitt, H. (2017). The Ethical Frameworks of Social Media Policies Among US Nonprofit Organizations: Legal Expectations, Dialogic Prescriptions, and a Dialectical Model. Journal of Nonprofit & Public Sector Marketing , 29 (2), 169-187.
Kray, B. R. (2010). Respecting the Concept and Limited Liability of a Series LLC in Texas . Mary's LJ , 42 , 501-549.
Leuciuc, E. G. (2016). The Immunity from Personal Liability Provided to the Shareholders of the Limited Liability Company by the Romanian Law. Knowledge Horizons. Economics , 8 (1), 84-86.
