Assume that you are a new paralegal in a law firm in Hagerstown, MD. A man named Martin Blinko walks in, pays his $150 initial consultation fee and tells you and your boss that he wants to open a food truck business in which he will serve Asian / Mexican Fusion meals that are both spicy and delicious. He sees a need for this service in the downtown area and believes he can get the right licenses. He owns his own truck which he just paid off and is now free and clear with no bank liens. He also owns his own cooking equipment. His life savings are tied-up in the truck and the equipment. He hopes to seek investors for what he thinks will be a growing business with additional trucks in his future. He tells you that he is not sure if he should be a sole proprietor, enter into a general partnership or, perhaps, start a corporation for his new business. He asks you what you would do if you were him.

You and your boss leave the room. Your boss then asks you how he should advise Mr. Blinko. What do you tell him and what is your reasoning for advising your boss in this way?