Yolanda comes to you seeking your legal advice. She wishes to start a clothing company along with her friends Navdeep and Chris. All three had met at George Brown College where they initially came up with the idea 2 years ago. The clothing line will focus on garments for boutique women's clothing shops.

Yolanda wants to know how the business should best be set up. Please explain to Yolanda the three main forms of business organization - sole proprietorship, partnership, and incorporation. In your answer please identify the benefits and drawbacks of each of these forms of business organization. Explain which form of business organization you think is best for Yolanda, Navdeep and Chris