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Hypothetical Corporation Assignment.
1. Think of any business idea. I want you to pick something you are passionate about (no Chicken business please!) Imagine you are going to create a business that you are passionate about. I want you to choose one business entity between a General Partnership, Limited Partnership, Corporation or Limited Liability Company. You will write me a short paragraph why you chose that entity type. Tell me the advantages and disadvantages of the entity you chose and why you did not choose another entity type.
3. I want you to go to the Secretary of State’s Website (link is in your slides or just Google ‘California Secretary of State’). I want you to locate the proper form to create your new business organization. If you are preparing a Partnership, there are forms to create a General Partnership. If you are creating an LLC, there are forms for the Articles of Organization for LLC. I want you to download the form and fill it out (it is generally 1-2 pages, max). Go here to this link