Imagine that you own
each of the following businesses:Tinker’s Home Security Service (sole proprietorship)
Tinker & Tailor’s Home Security Service (general partnership)
Tinker & Tailor’s Home Security Service (LP)
Tinker & Tailor’s Home Security Service, Inc. (corporation)
Tinker & Tailor’s Home Security Service, LLC (LLC)The businesses are being sued for breach of contract.
Create a matrix that lists each business, and compare and contrast your
personal liability exposure as an owner as a result of the lawsuit.
For each business entity, analyze how you might limit
your liability exposure as an owner.
Describe a business that you may own some day or that
you currently own. (Even if you never plan to own a business, pretend as
if you will do so for the purposes of this assignment.) Examine the best
business organizational form for the business that you have described,
including in your examination personal liability exposure, management,
taxation, and ease of formation.Submit a 2 page paper (not including title and reference pages). Your
paper must be formatted according to APA style as outlined in the approved APA
style guide and you must cite at least three scholarly sources in addition to
the textbook.