3.2An entrepreneurial physician invents a surgical instrument that may have substantial value, and the physician wants to commercially exploit the invention.The physician has sufficient capital for the early stages of the venture, but, if a patent can be obtained, substantially more capital will be required, and it is likely that the capital will come from outside investors including venture capital funds and other institutional investors.

3.2.1Describe two different forms of business organization that are suitable for this purpose and what actions must be taken and documents that must be prepared to complete the organizational process.Please be specific.

(Sole Proprietorship, General Partnership, Corporation (C or S), Limited Liability Company (LLC), Limited Partnership, Limited Liability Partnership)

3.2.2What are the advantages and disadvantages to recommending a "tax pass through" entity for this venture?

3.2.3Which form would you recommend and why?Be sure to describe your analytical criteria.