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this is business question Discussion Forum - Business Organizations Johnny installs fire prevention systems in homes and offices. He is an employee of the Fantastic
this is business question
Discussion Forum - Business Organizations Johnny installs fire prevention systems in homes and offices. He is an employee of the "Fantastic Protection Services Company," a locally owned business. Johnny has substantial experience in fire protection and wants to open his own store. Johnny's sister, Sue, also works at Fantastic Protection Services as a salesperson. Johnny is convinced that he is smarter than his current employer and could be more successful. Johnny is uncertain, however, what form of business organization he should choose. The only thing he knows for certain, is that he wants to limit his liability. In that regard, he wants your advise as to the following business forms: 1. Limited Liability Partnership (LLP) 2. Limited Liability Company (LLC) 3. Corporation Explain to Johnny the benefits and liabilities of each of these forms of business organization. Also, indicate to Johnny what additional information you would like to know to better advise him about his choice of business organization Step by Step Solution
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