You see and read about different kinds of businesses every day. The following scenarios describe two businesses. Use the description of each business to classify it as a proprietorship, partnership, corporation, or limited liability partnership and/or limited liability company (LLP/LLC). Business #1: Jin and his uncle started a software development company. Without his uncle’s knowledge, Jin illegally used another company’s code to meet the needs of a client. The resulting lawsuit closed the business and bankrupted both Jin and his uncle.
This is an example of:
A. An LLP/LLC
B. A proprietorship
C. A corporation
D. A partnership
Business #2: Alexander and Jin run a law firm in downtown Phoenix. The firm has debt of $100,000, but Alexander and Jin will not be held personally liable for the firm’s debts. The business organization is the type that requires Alexander and Jin to report all business-related income on their personal tax returns.
This is an example of:
A. A partnership
B. A corporation
C. An LLP/LLC
D. A proprietorship

Business #1: Jin and his uncle started a software development company. Without his uncle’s knowledge, Jin illegally used another company’s code to meet the needs of a client. The resulting lawsuit closed the business and bankrupted both Jin and his uncle.

One of the main disadvantages of a partnership is that the owners are personally liable for all the obligations regarding to the business.

Business #2: Alexander and Jin run a law firm in downtown Phoenix. The firm has debt of $100,000, but Alexander and Jin will not be held personally liable for the firm’s debts. The business organization is the type that requires Alexander and Jin to report all business-related income on their personal tax returns.

A LLC is a hybrid between a partnership and a corporation. The firm is a pass through entity, meaning that the owners are taxed directly (no corporate tax). But it also provides limited liability, so the owners are not personally liable for the firm's obligations.

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;

answerprotecting competitors;