This is a Canadian Business Law assignment.
SITUATION:
Wanda's Hamburgers Ltd. is a public company with over 250 shareholders and a board of 9 Directors. Tom Horton is a sole proprietor with complete control of his business. Jiva Java is a partnership of 2 individuals who equally share the management and profits of the business. All three businesses have all been in the fast food business for 10 years and are fierce competitors which do not trust one another. However, an extremely attractive, but risky restaurant chain prospect has recently surfaced which requires the co-operation of all three. Each will agree to participate, as long as they can be sure their current investments are protected. Further, all three agree that management of the new business should not be by any of the three. The three also agree that control of the new business and the benefits of future growth should be divided evenly among the three.
WHAT I WANT:
Please select the most appropriate business form for this fact situation. Please provide your preferred choice and a list of reasons why you chose a particular form of business organization over other alternatives. All alternatives must be thoroughly discussed, evaluated and reasons given for why they were accepted or rejected.
STYLE:
What is important is not the length of your answer but the basis of your analysis together with the reasons that you give to support your analysis. Do not hesitate to be creative in selecting your business form.
Your answer should be no more than 3 single space, typed pages.