Chaz wants to start up a food delivery service. He has $500,000 of personal assets. He is going to use personal money to seed the start up.

He doesn't want to face a lot of start up paperwork, or yearly documentation requirements to run his new business. He wants to interact with lawyers and accountants to operate his business as little as possible until he sees if it is going to be successful.

He will be the only owner for now. What business entity would you tell him to form and why? Also, would you give him any specific advice on how to manageusing his personal assets in the business? Explain your answer