Russell and Rachel have designed a new type of cell phone that they believe will revolutionize the market. They would like to start a company to produce, market, and sell the phone, and they know that they will need a considerable amount of up-front capital investment to develop a prototype and later to create inventory to sell. What is the best form of business for Russell and Rachel

Question

Business

Gregory Lloyd

4 April, 13:48

Russell and Rachel have designed a new type of cell phone that they believe will revolutionize the market. They would like to start a company to produce, market, and sell the phone, and they know that they will need a considerable amount of up-front capital investment to develop a prototype and later to create inventory to sell. What is the best form of business for Russell and Rachel

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Answers (1)

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Kinsley · Answer 1

Answer: Corporation

Explanation:

Corporation is a form of business operation which declares the business as a separate, and legal entity that is guided by a group of officers which are known as the board of directors.

A corporate structure is an advantageous way to start a business because it exists as a separate entity. form of business operation that declares the business as a separate, legal entity guided by a group of officers known as the board of directors. A corporate structure is perhaps the most advantageous way to start a business because the corporation exists as a separate entity.