The Smith family has a very successful family tea shop that also provides wireless Internet access and live entertainment. They believe that there is a great deal of growth opportunity in such tea...

The Smith family has a very successful family tea shop that also provides wireless Internet access and live entertainment. They believe that there is a great deal of growth opportunity in such tea shops and plan to eventually expand. After meeting with their lawyers and accountants, they realize they need to change their business structure to either a corporation or a limited liability company. They understand that both have limited personal liability.

Using the information in your text regarding the advantages and disadvantages of each, make a recommendation as to which you would recommend to the Smiths.  Provide at leastthree reasonsfor your recommendation. Be prepared to defend your point of view.

I recommend that the Smiths form a ________________.

1. corporation


2. limited-liability company


3. The rationale for your recommendation is as follows: (Explain your 3 reasons )