You and three of your close friends have discussed plans to open a pizza restaurant with a delivery service. You intend to attract to your business young professionals who live and work near the downtown area and who are healthy and fitness-minded. You and your co-owners agree that each will invest equally in terms of time and money. However, in addition to contributions and "sweat-equity" made by each of you, another $400,000 is essential for the restaurant to succeed.

What type of organization is best suited for this business activity? What steps would you take to manage the restaurant during times that you and your co-owners are not present? What liabilities do you and your co-owners face?