A. Briefly describe the differences among the following business entity types with regards to liability protection for the owners and/or principals as well as taxation: sole proprietorship, partnership (general and limited), limited liability company (LLC) and a corporation (S and C).

B. You will be creating a fictitious company whose only presence is in the United States (domestic entity and domestic sales only). As you put this company together, you will apply what you have learned in this course to analyze a variety of legal areas your company will need to execute and prepare for. For your document that describes the following:

The type of business you are creating

oAre you manufacturing, and/or selling goods, and/or providing services?

The name of your business and the significance behind the name?

Include a draft company logo (you can insert a hand drawn image or picture)

The form of business you chose and why (corporation, partnership, LLC, etc.)

Who are your customers? What are their demographics?

Where is your business located, and why did you choose that location?

Where is your startup funding coming from (Debt, equity, bootstrapping, etc.)?