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Small grocery store business

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Your best friend has a small grocery store business with another friend where they formed a partnership when they opened last year. Your best friend has now asked you whether she and her partner (who now has a terminal disease) should form a Corporation or not. (Business is great and they may want to expand the size of their Store). What would you advise her in reference to the strengths and weaknesses of each form and whether they should form a Corporation? If you keep the Partnership, what specific items/elements should be stated in the Partnership Agreement?

Reference no: EM131751655

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