Alberto has a business idea which consists of a soft drink dispenser for home use and he also has experience working as supervisor/ manager. Billy Bob is a salesman and Cat doesn’t have experience but would like to invest in this idea.
Issue: Which form of business should the 3 take when creating this business?
Law: Sole Proprietorship: The single owner is the business and all lead and held responsible by one person
Partnership: agreement between two or more parties to pursue a business for profit
Limited Liability Corporation: hybrid form of business that has the aspects of limited liability combined with a partnership’s tax benefits
