You are in "Business Law Shark Tank". You will be pitching a business idea to be reviewed by your fellow students. You are not pitching an invention or product, but a business. Almost everyone has wanted to start their own business. This is your chance to present a description of a business you would like to start and show how it can be successful. You are going to try and get your reviewers to invest in your business. You must post your Business Plan by Thursday night to get assigned a peer review. The required material you will need to include for your Business Plan, is listed below. You will want to be convincing so you will likely want to include more than this: A description of the business you wish to startDescribe where you will locate the business and the demographics of the area that establish a sufficient customer base.Experience or Background: Describe any experience or background you have in that business that provides you greater likelihood of success. Type of Business: Identify the type of business entity that you choose to start $($sole proprietorship, partnership etc$)$ andExplain why you choose that entity. Identify how that entity is taxed, andYour personal liability as an owner of the business. Show the finances of the business and what you will use the Business Law Sharks money for.Personal Liability: A description of the potential personal liability and what steps you will take to protect yourself if needed.