Three friends are interested in going into business together

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Reference no: EM131084210

Three friends, Louise, Marcia, and Rebecca are interested in going into business together. Louise will contribute her full efforts on a daily basis but has limited funds to invest in the business. Marcia will fund the venture but wants to limit her liability to her initial investment and has no interest in the daily operations. Rebecca will be involved as an active consultant and manager and will also contribute funds. Louise and Rebecca are willing to accept liability for the firm's debts as they feel they have nothing to lose by doing so. All three individuals will share in the firm's profits and wish to keep the initial organizational costs of the business to a minimum. Based on this information, what form of business entity seems most appropriate for Louise, Marcia and Rebecca? sole proprietorship joint stock company limited partnership general partnership corporation.

Reference no: EM131084210

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