Paul Peters is an inventor. He has various creative inventions that he thinks will make him a lot of money if he markets them right. His best friend Ronald Robinson has a Bachelor degree in Marketing, an MBA, and has innovative ways of marketing products. Paul does not have a lot of money, but his cousin Sara Sanders is millionaire after hitting it big with the house boom and knowing when to stop investing. Paul thinks that with his inventions, Ronald’s business skills, and Sara’s money, they can make it big. Paul decides to create a business with these individuals and asks you for help with the details. You must give him advice on what is the best business for him to form? Why? Make sure to include a description of the business model that would be best for him, as well as a description of the other business models and why they would not be as good as the one you advised him. Also make sure to cover all of the steps that he must follow in order to form that particular type of business.

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Paul Peters Ronald Robinson and Sara Sanders can form a Limited Liability Company LLC since it is a ... View the full answer