Possibility of starting a business

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Have you started a business or explored the possibility of starting a business? If so, discuss how the various forms of legal entity factored into that process. If you have not started a business, consider this hypothetical scenario, and discuss the same.

You and your friend Mark come up with a brilliant idea for a new service business while you are in college. When you both graduate, you and Mark start working together and attract the interest of Google. Mark wants to grow the business to be more attractive to Google and other potential suitors, but you think the company will be more successful if you continue your management role.

Think about the status of your partnership and the potential of becoming one of the other forms of legal entity detailed in Exhibit 21-5. What legal entity do you think would fit your company? Why?

Reference no: EM132489262

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