You and two of your friends are carefully considering starting a new business which will manufacture and sell frozen lobster pies.The business will make the pies at a factory in Portland, Maine.The pies will be sold to supermarkets in Maine and nearby states.

Write an essay discussing which form of business organization would be thebest choicefor the new enterprise.You should select the business organization which, on balance, has the most attractive features from the point of view of the owners.The essay should stateWHY the business organization you have selected is better, on balance, than (at least some of) the others.The essay should discussall of the following issues:

A. potential personal liability of the owners,

B. management rights,

C. federal income tax treatment of the business and its owners, (Caution: Do not use phrases like "single taxation" or "double taxation" unless you explain what the phrases mean.)

D. any legal restrictions on who can be owners (if relevant,) and

E. transferability of ownership interests