Reference no: EM132201351

You and your best friend, a former DeSales college classmate, have decided to open a business specializing in local youth group sports equipment, uniforms, and memorabilia. As you begin to make your plans, the first thing you have to decide is what form of business organization you will use to actually organize this new business. After lengthy research and discussion, you and your friend have narrowed the list of possibilities down to either a general partnership or a corporation. Pick one of those two forms of business organization and discuss why you would choose it over the other to organize your sporting goods business. Your response should include all of the basic characteristics of the form of business organization you chose (e.g., ease of formation and termination, management responsibility, profit distribution, extent of liability, and ability to raise additional capital) and what thoughts about those characteristics led you to favor the business form you chose over the other type.