Jeb And Josh Case Summary

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In the case of Jeb and Josh a business entity that might be appropriate would be a Partnership. A partnership is easy to form, and generally does not require an official or written agreement to establish it (Kubasek p. 772). This business entity is the relationship existing between two or more persons who co-own business for profit (Kubasek p. 772). Each person contributes money, and expects to share in the profits, losses of the business equally. Unfortunately, with this type of entity, Jeb and Josh would need to be concerned at the fact that they will be personally liable for any lawsuits filed against their business.
Another option would be Limited Liability Company (LLC). This type of business entity is an unincorporated form of business

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