Ted Brown and Jim Green have been discussing going into business together for several months, and they are anxious to start that business before the end of this month. However, both Ted Brown and Jim Green each have to be out of town for several weeks on other business, so Ted Brown has told his son, Theodore, who is 16, about the discussions with Jim Green and has appointed Theodore to complete the negotiation of the final details of the business. Jim Green has told his son James, 18 years old, about the discussions with Ted Brown and appointed James to complete the negotiations.

Ted Brown and Jim Green's business will develop an app for cell phones that will identify family-oriented attractions along major highways so families can download the app to help in planning family vacations. The app development will take 4 months, and then it will take approximately another 4 months to deploy the app fully. As the app becomes popular, the business will solicit family-oriented businesses to advertise on the app. Ted Brown and Jim Green have very little capital to use in the app's development and deployment. They will probably need to raise the capital necessary to develop and deploy a quality app.

• Can Theodore Brown and James Green legally create the business that Ted Brown and Jim Green discussed?
• If Theodore and James create the business, what duties do they each owe their father? Describe what those duties mean in this case.
• What factors do Ted Brown and Jim Green (or their sons on their behalf) need to consider in selecting a form for this business?
• What form of business will provide the most advantage for their venture?
• What are the disadvantages of the form of business that they selected?