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.

*) Please tell me which business entities would you recommend to Jeff, and why? If more than one, please explain the difference between them. (No IRAC needed)