Susan, a software developer, has decided to start her own business. She has developed a software program that reviews contracts and provides analysis of certain key legal terms, with the intent that the software can be used by companies to replace review by an attorney. In order to get her business up and running, she needs to rent office space, hire three employees, and purchase various technological equipment. She also plans to enter into contracts with several suppliers that she worked with in her prior job. She anticipates that her business will have fairly substantial losses in the first two years of its operations, "break-even" in the third year, and start producing a profit in the fourth year. Susan was very successful in her prior job and managed to save $500,000 in cash. She plans to initially fund the business with part of her own savings, and obtain additional capital from friends and family if needed, but she anticipates that she will eventually need to obtain funding from institutional investors such as venture capital investors. What type of business entity should Susan form for this business and why? Please be sure to explain how to form the entity you select. Note: be as specific as possible - i.e., if you think corporation, explain what type of corporation (and why), if you think limited liability company, explain member-managed or manager-managed and what tax election (and why), if you think partnership, explain what type of partnership (and why).