Anthony Krystofnik and Lou Hersch are opening a Shoney's Restaurant in a growing section of Columbia, South Carolina. There are no competing family restaurants in the immediate vicinity. Their most fundamental decision is how to organize the business. Krystofnik thinks the partnership form is best for their business. Hersch favors the corporate form of organization. They seek your advice.

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Discuss the advantages and the disadvantages of organizing the business as a corporation.