Joe and Mark would like to start a new business selling a product new to the U.S., the Peraves Monotracer. This is a motorcycle-type vehicle that is encased in a sort of shell, so that the rider can ride this product in any kind of weather. Joe and Mark have done a considerable amount of research on this product, and think it would be successful in the U.S. However, they are still concerned about the risk of a new venture and both would like to avoid losing any personal assets. They should organize their firm as a: Multiple Choice general partnership. limited partnership. corporation. sole proprietorship.

A corporation refers to an organization that is governed by a single entity. The responsibilities of the individuals are levied on the corporations. In corporations, a group of people act collectively. The group of shareholders represent the common goal in an organization.

According to the given expert, Joe and Mark should organize their firm as a corporation. This would help them not to loose any of their personal asset.