Following several months of online sales and development of new products and materials, you and 5 of your friends decided to take the next step and formalize the existence of your operations, your friends asked you to take the lead and present them with possible options for running the business and with whom to register the possible entity, they also asked you to provide them with at least two options covering the managerial part and structure, capital compliance and formalities. Please write to them a formal letter describing the potential options and your conclusion.