Gabriel and Leah are preparing to operate a small business which specialises in Australian specialty chocolate. Gabriel tells you he plans to perform the administrative duties such as sending bills to customers and answering the phone orders. Leah will cook and decorate the chocolates. Gabriel and Leah both want some involvement in the management and ownership of the business. Gabriel and Leah are married but do not have any close family members. They intend to hire more staff and wish to see the business continue after their retirement. Leah is aware that another operator has just been sued and was found liable for $1 million dollars in damages after some plastic was found in one of their specialty chocolates. Gabriel and Leah are unable to decide between a partnership or a company structure.   

Provide advice to Gabriel and Leah on how the venture should be structured ?

Answer rating: 100% (QA)

Based on Gabriel and Leahs situation both the partnership and company structure have merits Starting ... View the full answer