You have recently gained an internship at a firm of Financial Planners. You are very keen to impress the partners within the firm with your knowledge of Business Structures. One of the partners has asked you to provide each of the following clients with written advice as to the most appropriate business structure to recommend based on a risk assessment of each client, along with the relevant laws and legislations that apply, and their business as well as the selected criteria outlined below. Client 1 Albert Young, single, aged 25 years. Albert is currently employed full-time as a groundsman at the Metricon Sports stadium at Carrara. A keen gardener and inventor Albert has created a formula to increase the longevity of flowering plants, once harvested. Albert wants to patent his formulae, commercially produce, distribute and sell his formulated product. It is very important to Albert that he maintain control of the production, distribution and sale of his product. Albert earns a salary of $58,000 as a groundsman. He still lives at home with his parents. Albert's current savings total $40,000. Albert is the only child of Victor and Victoria Young, who are both retired and receive the age pension. Client 2 Audrey Wang, 45 married, with 2 children aged 15 and 17. Audrey is a qualified solicitor employed by the Gold Coast City Council. Audrey's spouse Angus is a Professor in the Department of Engineering at Griffith University. Audrey intends to establish a legal practice in Southport. Audrey is confident that she will be referred legal work from the Gold Coast City Council as she is on very good terms with the Gold Coast Mayor and senior council executives. Audrey and Angus jointly own their own home and are currently paying off an investment loan on a rental property jointly purchased last year. Audrey is currently negotiating a loan to fund the leasing of her law office, including office furniture, computers, printer/scanner. Audrey's chief concern is to maximise the level of asset protection over her and Angus' current and future property.