Watch the short video on basic corporate structure and business entities. The video helps explain some of the legal nuances of a corporation and compares the corporation to other types of business entities discussed in the text.
Understanding Corporate Structure (1:07)
A friend has asked you to help her decide how to protect her soon-to-be-opened bakery from liability, while still maintaining a business structure that fits her needs. Compare and contrast two (2) different possible business entities that would be suitable for her and explain why. Be sure to support your response with legal reasoning.