Jon-jon and Ron-Ron are best of friends. Being a car enthusiast, they decided to setup a car rental business. They pulled together their resources and contributed to the partnership fund all the properties that belonged to them and agreed to divide the profits among themselves. The partners projected that the business will be a success because they are well-connected with the elites of the town due to the fact that Jon-jon is the son of the wealthiest family in the town and Ron-Ron is the only son of the town Mayor. As a business advisor, the partners approached you and sought advice on the propriety of their business plan. How would you respond to their inquiry?

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Introduction Jonjon and RonRons venture into a car rental business as best friends reflects both the enthusiasm for the automotive industry and a strategic partnership leveraging their social connecti... View the full answer