You are a business lawyer specializing in start-up businesses. One day a new client, Tom Terrific, enters your office and indicates that he is interested in starting a boutique store featuring domestic and imported cheeses. He has a limited amount of capital at the outset, so he indicates that he will probably be a one-person operation at the beginning, handling all aspects of the business. His goal, however, is to grow the business to the point where he may get partners or employees, like his friend Jerry, to help. Eventually, he plans that the business develops to the point where his role is simply to manage the operations.

He seeks your advice on how to begin. What do you tell him?

Please advise your client on the following issues:

1: The choices of business organizations available, including the requirements of each form. Please state all of the advantages and disadvantages of each form from a legal, administrative, financial, as well as an operational perspective

2: Which form would you advise best meets Tom's needs and why?

3: What role/roles would you recommend Tom hold in the organizations? Please define the available roles and why you chose your recommendations.

4: How is Tom to compensate you for your services?