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Jeff comes to consult with you about an idea he has. He tells you that he does not have a lot of cash to pay

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Jeff comes to consult with you about an idea he has. He tells you that he does not have a lot of cash to pay but if you help him, he will compensate you with equity in the company. He talks about a crazy website were individuals can buy and sell books online, something called "Amazon". Knowing that the book industry is a multi-billion-dollar industry, you agree. Jeff tells you that he needs to form a business entity for his business idea. He wants a company that he can grow while still keeping a close eye on his investors. Jeff has big dreams that that company will one day be a multi-billion- dollar company that sells more than books. Jeff wants the most liability protection possible while still avoiding as much taxes as possible. Which duties do you owe a corporation? (No IRAC needed. Short Answer Only)

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