Sam and Laurel want to go into business together. There is no gourmet pastry shop in their small town and their plan is to be the first and corner the market. They already have all the money needed to start the company and would like to have some liability coverage while sharing the profits. What type of business structure would be best for Sam and Laurel? (1 point) Responses
sole proprietorship sole proprietorship general partnership general partnership Limited Liability Corporation Limited Liability Corporation franchise
1 answer
Limited Liability Corporation would be the best business structure for Sam and Laurel. This way, they would have liability protection while still being able to share profits and make decisions together.