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