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Jasmine wants to start a company that will allow people to pay for purchases by using a visual biometric app on their mobile phones. Instead

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Jasmine wants to start a company that will allow people to pay for purchases by using a visual biometric app on their mobile phones. Instead of using a credit card, the retailer would take a photograph of the purchaser's eye to confirm the identity of the purchaser. Once the identity is confirmed, monies would be transferred from the purchaser's account to the seller's account. She believes she will be able to sell this app to major banks and retailers and that the technology will be widely used over the next five years. She anticipates that she will need $100,000 - $250,000 to initially develop the app and another $100,000 - $250,000 to market the app. While she has the technical knowledge to develop the app, she knows very little about marketing or running a business business. She thinks she can get a loan from the bank for $250,000 to help fund the project. Choosing between a sole proprietorship, partnership, and a corporation, which organizational form do you recommend that Jasmine should use? Explain the reason for your answer in detail - identify the benefits and drawbacks of your approach

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