Question: Instructions: You will be provided with three different business start-up scenarios. For this scenario, I would like you to explain what business entity you would

Instructions: You will be provided with three different business start-up scenarios. For this scenario, I would like you to explain what business entity you would recommend for each situation and provide an explanation/analysis as to why you have recommended a certain type of business entity versus another.

Mike and Lamar are recent graduates from MIT. While at school they developed and patented a synthetic compound that can be used a substitute for many motor oils and machine lubricants. Mike and Lamar have already received some interest from local business developers and venture capitalists that see global potential for their developed product. Mike and Lamars parents have offered to front them money to assist with any company start-up costs. What business entity would you recommend for Mike & Lamar and why?

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