Question: This is a one question im not able to fix in one picture thats why I posted 2picture Choose the Business Form that best applies

This is a one question im not able to fix in one picture thats why I posted 2picture This is a one question im not able to fix in one
This is a one question im not able to fix in one
Choose the Business Form that best applies to the scenarios below: hy is a talented artist and is developing a strong reputation. She currently sells her drawings and paintings at exclusive art shows, but she wants to grow her business and she is considering working with others who have skills, experience and investment funds to grow the business. Vivy recently met Sam, a sculptor. Sam has been selling his work on A limited liability partnership his own for many years but is ready to work with someone else to B, limited partnership collaborate artistically, rent studio space together, host joint exhibits and share marketing. But he'd like to keep business administration partnership efforts and costs at a minimum. Sam and Ivy could forma D. sole proprietorship Things with Sam did not work out, but Ivy met Stella, a retired film E unlimted share structure executive who had been very successful in her career. Stella thinks that Ivy should sell some of her work to the entertainment F. corporation industry. Stella would use her contacts to make introductions for lvy and Stella would also invest funds to get the business of the ground. But beyond that. Stella wants minimal involvement with the day-to-day running of the business because she plans to enjoy her retirement in Florida. Ivy agrees that she would manage the business, continue to create art and generally be responsible for the obligations and operations of the business. Ivy will take a fee for her management services as well as her share in the profits. Ivy and Stella could forma tvy instead decides that she wants to bring in her extended family and a larger number of friends and colleagues as investors. She doesn't mind giving up some control over the business and being Ivy instead decides that she wants to bring in her extended family and a larger number of friends and colleagues as investors. She doesn't mind giving up some control over the business and being subject to greater bureaucracy as long as she gets to continue creating art. In fact, she'd be happy for the business to hire an experienced business manager to run things. Ivy could form a If Ivy decides to keep to the simplest form of business ownership, Ivy could form a Ivy realizes that she needs professional advice. She goes to see her lawyers. There are 3 lawyers in the office - one that practices real estate law, one that practices tax law and one that handles corporate matters. They all have their own clients and responsibilities, but they share office space, marketing and other expenses. The most likely type of business form they would use is a

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!