Business Associations Problem leff comes to consult with you about an idea he has. He tells you that he does not have a lot of cash to pay but if you help him, he will compensate you with equity in the company He talks about a crazy website were individuals can buy and sell books online, something called Amazon. Knowing that the book industry is a multi-billion-dollar industry, you agree leffels you that he needs to form a business entity for his business idea. He wants a company that he can grow while still keeping a close eye on his investors Jef has big dreams that that company will one day be a multi-bilsion-dollar company that sells more than books Jeff wants the most lilability protection possible while still avoiding as much taxes as possible 1) Please tell me the two different types of Equity and what they mean? INo IRAC needed 2) What kind of relationship have you started with Jef? What type of authorityliest has leff given to you, please explain? (No IRAC needed 3) Please tell me which business entties would you recommend to Jeff, and why? if more than one. please explain the difference between them. (No IRAC needed)