For this discussion, consider three friends who had an idea for a new kind of shoe. They created a sample in their garage, and then found a manufacturer to make a limited number of the new shoes. They took their new shoes to the flea market to sell. They sold very well and the three people wanted to expand their business. The following options were discussed in the group:
Option 1: Become a limited partnership.
Option 2: Become a corporation.
For this discussion, choose one of the two options above and discuss why your choice is the best choice for this new business.
Response Criteria:
Respond to the question and to other students' postings. Consider the following when posting your responses:
Why might this be the right form for the new business?
What might some of the disadvantages be?
What might be reasons for choosing the other form?