question archive Jenae, Jorge, and Ben are starting a business
Jenae, Jorge, and Ben are starting a business. The business will have significant capital contributions from each of the three owners. The business is a high-risk type of business, wherein the owners would risk personal liability for the debts and lawsuits incurred by the business. Should Jenae, Jorge, and Ben consider forming this business as an LLC, general partnership, sole proprietorship, or a corporation?
Provide an explanation as to why you selected the specific type of business organization; include the benefits and burdens of selecting this business organization.