2.Three young attorneys wish to open a law practice. They each were to make an initial investment of capital in the opening of the office and also wish to equally share in the profits. They want their relationship to be controlled by an agreement which they can craft to their needs. They are also interested in limiting the sale of each attorneys interest in the business to outside persons. What form of business structure would be best to meet these needs?

A.A close corporation. By forming a close corporation, the attorneys can prevent the others from divesting their shares in the corporation.

B.A general partnership. By forming a general partnership, the attorneys can control by agreement the relationship between them, including the divestiture of any share of the business by anyone of the partners. In addition, in a general partnership, there is generally a sharing of investment and profits.

C.A limited partnership. By entering a limited partnership, at least two of the three attorneys could limit their potential personal liability.

A professional legal corporation. By establishing a PLC, the attorneys can limit their personal liability while still achieving their other goals.