You and Four Friends Are Investing $10,000 Each to Start

Multiple Choice

You and four friends are investing $10,000 each to start a business. To keep things even, you will all own 20% of the business and will contribute 20% of the work required to make the business successful. If the business makes a profit, you'll each get 20%. However, you all agree that the business must provide liability protection. Which form of business best meets your needs?

A) joint venture
B) LLP
C) partnership
D) corporation