"Scenario:

Restaurant/bar: Lou and Jose plan to open a sports bar and restaurant where customers socialize and watch sporting events on large-screen TVs that hang around the bar. They do not have much money, but they do have Miriam, a wealthy investor who does not have time to participate in the business, but wants to provide capital to start the business in return for a percentage ownership.

Question:

discuss the business entity that represents the best choice for each business, taking control, taxation, and liability issues into consideration;

identify laws and regulations each business must consider in starting the business, and

identify risks against which each business must protect itself.