After reviewing all of the various ways you can form a business, think of the pros and cons for each way to do business. Consider the ease of formation, the formalities if any in how you make decisions and conduct business as well as financing and your personal liability as the owner. Tell the class what type of business you want to form (you can make this up), what form you will use to create your business ( sole proprietor, partnership, limited partnership, corporation, LLC etc.). Give the reasons why you feel that would be the best form for you. In the discussion state why you would not chose all of the other forms of business. You just received a tip from your cousin who is in accounting on XYZ company on the profit and loss statement she is working on. Based on her information you know you will lose a considerable amount of money if you do not sell before the information is made public. Explain to the class what you will do and why. What do you think will happen if you sell?