Your good friend Operetta tells you that she wants to open a jazz club and coffeehouse in her local community in Westchester County. She also tells you the following:

1. Operetta is wondering whether her business should be or could be formed as a New York Not-for-Profit Corporation or as a New York for-profit entity

This is the only information she gives you, based on what you know ADDRESS AS MANY RELEVANT LEGAL ISSUES AS POSSIBLE USING LEGAL REASONING AND LEGAL TERMINOLOGY YOU SUGGEST TO YOUR FRIEND.