Jack and Louisa own a car wash
expanding their business by opening two more car washes in the same city.
Louisa is a bookkeeper for a major corporation. She intends to eventually quit
her job to operate the car washes full time.
Jack and Louisa are going to hire a mechanic, Greg, who once
owned his own chain of car washes in another city. Jack and Louisa currently
operate as a limited partnership.
Greg suggests that Jack and Louisa should change to a
corporate form. Should Jack and Louisa change from the limited partner form of
business organization to a corporate form? Explain your reasoning.
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