Problem
Two years ago, Jeremy and Rene started a business to market an app Rene had developed. They were fresh out of college with few assets and no need for any additional capital, so they formed a _________ [INSERT YOUR ENTITY FOR A5 F ROM Q5]. The business has been successful, and although they are still based in Rene's apartment, they are starting to feel cramped and would like to move to a location with more room for growth and to hire employees.
Jeremy's cousin Brenda would be a perfect addition to the business. She and her wife are in their forties, they own their home with no mortgage, their adopted children are now at Bellevue College, and Brenda is ready to leave her marketing position with a large cellular service in Factoria, Bellevue and try something new. Brenda, however, wants to come into the business in an ownership role rather than an employee.
Explain Jeremy and Rene's options to bring Brenda in as an owner, including consideration of a new business form.