What advice will you give her/him about structuring the new business? What issues should your friend be concerned about in making his/her decision about which business form to create? How does your suggested form successfully respond to the issues confronting your friend?

You have found yourself in the following situation.

One of your friends has recently developed an innovative method to preserve and protect leather. The product can preserve leather for five years at a very reasonable cost. Several investors have learned of the product and are asking about investment opportunities. Your friend is very interested in the business possibilities this opportunity presents. Knowing that you have recently completed a rigorous business law class your friend asks your advice on how best to structure this new business.

What advice will you give her/him about structuring the new business? What issues should your friend be concerned about in making his/her decision about which business form to create? How does your suggested form successfully respond to the issues confronting your friend?