Write a 900-word paper, discussing all three of the businesses below. For each of the businesses, discuss the following: (a) the business entity that represents the best choice for each business, taking control, taxation, and liability issues into consideration; (b) identify laws and regulations each business must consider in starting the business; and (c) identify risks against which each business must protect itself.
Restaurant/bar business: Lou and Jose plan to open a sports bar and restaurant where customers socialize and watch sporting events on large-screen TVs that hang around the bar. They do not have much money, but they do have Miriam, a wealthy investor who does not have time to participate actively in the business, but wants to provide capital to start the business in return for a percentage ownership.
Extermination business: Frank is a wealthy investor who plans to open a chain of exterminating businesses across the United States.
Professional practice business: Akiva and Tara have just completed all educational and experiential requirements to be licensed as obstetricians. They want to open a medical practice together. They will take out a large loan to finance start-up costs.
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