Question
Amiir is looking to expand his current business venture and wants advice on the legal structure that will best suit his needs. He has been
Amiir is looking to expand his current business venture and wants advice on the legal structure that will best suit his needs. He has been running an on-line electric skateboard retail outlet on his own, but he now wants to use his international contacts to set up a supply channel for his own brand of self-designed electric skateboards "Killer Boards".
He has worked out it will take $2M to have his design properly specified and to set up a well-marketed Go-Fund-Me crowd sourcing appeal. He also knows of 5 rich young tech entrepreneurs who use his current boards and have said they are willing to back his latest venture. However, the potential funders want to make sure they are shielded from liability as Amiir's design calls for a skateboard that can go 60km/h.
What business structure would you recommend for Amiir? Justify your answer with at least 3 reasons for your recommendation. There is no need to use Memo format or ILAC.
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