Business formation question.

Business Formation Exercise To culminate our studies of Business Forms we are going to take the practical step of forming your own business. You will do the following: 1. Decide what type of business to form (Businesses that participate in illegal activities, just like in the real world, will not be permitted. 2. Choose a name for your New Jersey business that has not been selected in the past - you can go to New Jersey Business Name Availability Che (link in this module) to check the name's availability. You will need to include with your submission a screenshot/cut & paste of the screen that indicates that the name is available. You will not be expected to pay a fee for any services related to this assignment. 3. You will choose among the following, which type of business form to use: Partnership. Corporation Limited Liability Partnership, Limited Liabilit Company Limited Partnership, or Professional Corporation. You may not form a franchise or a Sole Proprietorship 4. You will prepare formation documents for your business, either Articles of Incorporation or a Partnership Agreement. Examples of these types o documents specific to these businesses are available in your text and on the Internet. Contact me if you have difficulty locating them. If the agreement requires personal information, I ask that you list your name, but use fake addresses. Again, reach out to me if you have questions 5. You will prepare a report for me, which will be a minimum of four pages (double spaced, Times New Roman 12 pt font - the formation document not part of the four pages), which will include the following Explain what type of business you will be running. Include how big you expect it to be, why you think the business will be successful, who will supervise the work being done, where you plan to locate the business and why you decided to choose that location. Explain what type of business form you Ivil be using You'll need to explain why that business form will work well with the business that you're starting. You will also have to explain why you've eliminated each of the other business forms You will ma timifir