Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are about to start a new business venture (with multiple retail branches). You intend to have up to 100 passive investors. You personally intend

  • You are about to start a new business venture (with multiple retail branches). You intend to have up to 100 passive investors. You personally intend to be the sole decision maker and to "run the show." What organizational form would you select to protect both your investment in this venture AND your total personal net worth? Explain why.
  • How EXACTLY would you structure it? What would your official role/position/title be? (Note: You cannot falsely claim you are passive because too many witnesses will see you actually "run the show.") You may need to do some independent research on "piercing the corporate veil."
  • Are there any other steps, besides corporate formations, that you can take to protect yourself from liability?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Information Technology Auditing

Authors: James A. Hall

4th edition

1133949886, 978-1305445154, 1305445155, 978-1133949886

More Books

Students also viewed these Accounting questions

Question

What will be you living situation/home environment?

Answered: 1 week ago

Question

Why should a consultants progress be regularly monitored?

Answered: 1 week ago