Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bill, a local inventor, developed a diet pill that he believes will solve the obesity problem in the United States. Bill wants to create a

image text in transcribed

Bill, a local inventor, developed a diet pill that he believes will solve the obesity problem in the United States. Bill wants to create a new company, 50% owned by Bill and 50% owned by a ajor drug company. Although he believes the pills are safe, Bill is concerned about liability if someone becomes sick or dies. The best form of business organization for the new company is Select one: a. sole proprietorship with Bill as owner and the drug company as creditor b. S-type corporation with Bill and the drug company owning equal shares C. general partnership with Bill and the drug company as equal partners d. limited liability company with Bill and the drug company owning equal shares

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

What are the elements of the marketing research proposal?

Answered: 1 week ago

Question

Define Income Elasticity of demand.

Answered: 1 week ago