Jimmy Joe Thudpucker and his sister, Linda-Lou Thudpucker are starting a carpet and flooring business here in Winchester. Jimmy will do the installations work and Linda-Lou is great with customer service. Jimmy-Joe Finds out that you are taking BA-303 and wants you to explain the advantages and disadvantages of using either a
(1) Written Partnership Agreement;
(2) LLC;
(3) Limited Partnership, or
(4) Traditional Corporation.
Explain the advantages and disadvantages of these types of business models. Don’t forget to recommend which specific type you think is the best choice for the Thudpuckers’ new business.