After reading the material from Chapter 19 and watching the posted video.What are the majordifferences between the outlined business entity options?Focus your discussion on SoleProprietorships, Partnerships (General Partnerships and Limited Partnerships), and LLC's.Within your discussion please identify the major advantages and/or disadvantages. Once youhave a good idea of the differences between the entity types, please read the posted factpattern and answer the following questions.What law should be applied to resolve the disputeover profits?How will profits be distributed?How could this have been avoided?Would yourecommend that different business entity for the friends?

Fact Pattern for Discussion Question 5 Brian, Jessica, and Tyson start a pet sitting and dog walking business together. They agree to be partners in the business, but do not formalize there partnership in a written agreement. The do business as, Pet Lover's R Us and open a bank account in the name of the business with all three partners on the account. Brian contributes 60% of the starting capital, and Jessica and Tyson each contribute 20%. Nothing is decided about how profits will be divided. Brian assumes that he will be entitled to 60% of the profit, in accordance with his contribution. Jessica and Tyson, however, assume that the profits will be divided equally. A dispute over the profits arises, and ultimately a court has to decide the issue