Legal Underpinnings of Business Law

  Imagine that you own each of the following businesses: Tinker’s Home Secuity Service (sole proprietorship) Tinker & Tailor’s Home Secuity Service (general partnership) Tinker & Tailor’s Home Secuity Service (LP) Tinker & Tailor’s Home Secuity Service, Inc- (corporation) Tinker & Tailor’s Home Secuity Service, LLC (LLC) The businesses are being sued for breach of contract- Create a matrix that lists each business, and compare and contrast you personal liability exposu'e 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 curently own- (Even if you never plan to own a business, pretend as if you will do so for the puposes of this assignment-) Examine the best business organizational form for the business that you have described, including in you' examination personal liability exposu'e, management, taxation, and ease of formation-