I have pasted the questions I need answered with are 1 A and 1 B. The informatio

I have pasted the questions I need answered with are 1 A and 1 B. The information for the questions is pasted below 1 B.
Part A, Question 1 (25 points):
Addressing each of your business client’s interests and concerns, discuss the merits of each of these business entity forms, and differentiate between each of these business forms by identifying, describing and distinguishing the characteristics of each, in terms of:
Method of creation (ease, expense and speed of formation)
Legal Position and Liability of owners
Transferability or tradability of ownership interests and raising capital
Management and control by owner
Your choices for your business client are:
Sole Proprietorship,
General Partnership
Limited Partnership
Limited Liability Company
Part A, Question 2 (10 points):
Based on your business client’s interests and concerns, which business entity form would you choose to start his/her business? Assess and discuss why, or why not, would you choose the business form you did.
Your Business Client’s Interests and Concerns:
Right now, the business/client is just starting up and there is little capital and no assets other than those of the owner (your friend’s intellect, savings, and creditworthiness).
In the future, the business/client wants to “go BIG” and be a multinational multibillion-dollar business (consider IPOs on publicly traded stock exchanges).
The business/client wants to get started right away because he/she has been offered paid short-term business “contract work” manufacturing for other companies – they are just waiting on you to get them safely started.
The principal (your friend) does not mind “sharing” a portion of the business (equity) in the future, if it is necessary to grow and succeed.
The principal must focus on day-to-day management of business functions right now, however one day the principal would rather focus their personal work on researching and developing new pharmaceuticals, and yet still retain ultimate control of the company.
The principal, also believes if he/she is the one starting the business and taking all the risks of loss (the entrepreneurial risks), then he/she should always be able to have the largest share of rewards from business success.
The immediate paid short-term “contract work” manufacturing the business/client has, keeps him/her in business for now, but the business/client will need to raise significant investment capital ($100 million+) to realize his/her long-term growth vision.
Ultimately, the principal wants the option to “cash out” and retire wealthy. However, although “retired”, he/she will likely want to continue active involvement in research to stay busy (he/she is not sure at this point).
Your friend, the principal, detests paying what he/she considers “unnecessary” taxes.
Finally, your friend/client is seriously concerned that he/she will be inventing new products and putting them on the market. This involves significant risk of personal liability if the products are defective, defectively manufactured, or misused causing injuries or death, possibly resulting in major harm and enormous damages awards.
You are the legal expert that the principal (your friend) trusts more than anyone else. Your friend, the principal, has hired you as his/her business attorney to decide which type of business organization entity form to use.

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