Childhood dreams reality by starting business together

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Reference no: EM132231027

You and your best friend, whom you have known since the 5th grade, have decided to make your childhood dreams a reality by starting a business together. You graduated business school with an MBA while your best friend recently earned an advanced degree in engineering. The company will design and manufacture revolutionary tailgating furniture that is made from a new composite material that has been recently patented by your best friend. With this new material, the furniture will fold and condense into a very small package. This will enable the average family sedan to hold a five-piece lounging set. You plan to handle business matters, while your friend handles design and manufacturing. As part of the business matters, you have located a financing and credit card company to contract to help your customers purchase your goods. You have also located a real estate agent to help you locate office space. You have decided to rent your space and authorized the agent to enter negotiations for you if he finds a space meeting your price point and retail space needs. Your friend has also located a manufacturing third party that will produce your goods.

Question: In the above scenario what would be the best business entity to use?

Reference no: EM132231027

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