Chang and Lee have developed a very unique and easy to use app which helps

university students to readily access and comprehend current information on

business sustainability and ethics. This app has already attracted many

customers throughout Australia. Chang and Lee have also received considerable

interest in their app from students, academics, and private and public

organisations overseas. Chang and Lee are young business graduates who do

not have collateral assets and access to traditional loan funds from a bank or

other financial institution.

Required: With regards to the above issues, advise Chang and Lee as to what

type of a business entity they could establish and utilise in order to operate their

developing app business and acquire ongoing funding from investors. Your

advice should also include any advantages and disadvantages associated with

such a business entity.