The client was a young IT professional who wanted to start-up a new company. The idea was to combine virtual reality developments with online education which was getting quite popular after coronavirus pandemic in 2020. Furthermore, the client was getting ready to launch virtual offices as well. Test runs have shown a strong interest from many companies as this would allow to save a lot of money on office spaces, utilities and supplies.

You have also asked the client which criteria is the most important for the new company: 

(a) organizational requirements and costs, 

(b) liability of the owners, 

(c) the continuity of the business, 

(d) the transferability of ownership,

 (e) management control and regulations,

(f) the ability to raise capital

(g) income taxes.

Specify the most suited legal form of business for each above mentioned criterion and explain the reason. 

Answer rating: 100% (QA)

answers Introduction The legal form of business includes sole proprietorship General partnership Limited liability partnership corporations etc Each of these legal forms of business have their advanta... View the full answer