Business Organization Best Suited For Entrepreneur Physician

Question

An entrepreneurial physician invents a surgical instrument that may have substantial value, and the physician wants to commercially exploit the invention. The physician has sufficient capital for the early stages of the venture, but, if a patent can be obtained, substantially more capital will be required, and it is likely that the capital will come from outside investors.

1.    Describe two different forms of business organization that are suitable for this purpose and what actions must be taken and documents that must be prepared to complete the organizational process. Please be specific.
2.    Which form would you recommend and why? Be sure to describe your analytical criteria.


Summary

The question belongs to Law and it discusses about a scenario where a physician invents a surgical instrument and is trying to patent and commercially exploit it. The different forms of business organizations that are best suited in this scenario have been explained in the solution.

Total Word Count 105