Problem: Douglas had always dreamed of starting his own insurance agency. Last year he was afforded the opportunity to open a franchise location for a large national insurance company. He helps the company issue property and casualty insurance policies to customers in his geographic area. Douglas has five full-time employees who work for him. His mother, Melony, is a 10 percent owner in the business. What business entity should Douglas and his mother utilize? Discuss the LLLP, the LLC, the S corporation, and the C corporation. Please state the advantages and disadvantages of each ownership form.