Question

William and Theodore have decided to start a travel business called Excellent Adventures. Since their business primarily involves time-travel their clients may be harmed during a small but significant portion of the travels. Consequently, William and Theodore would like a business form that will shield both of their personal wealth from any legal claims that the firm might be subject to after one of the travel mishaps. If William and Theodore are the only investors in this U.S. domiciled firm, which legal form of organization would be best for Excellent Adventures to protect both William and Theodore

Answer 1

Answer:

Hence the answer is a corporation.

Explanation:

William and Theodore have decided to start a travel business called Excellent Adventures. Since their business primarily involves time travel their clients may be harmed during a small but significant portion of the travels. Consequently, William and Theodore would like a business form that will shield both of their personal wealth from any legal claims that the firm might be subject to after one of the travel mishaps. If William and Theodore are the only investors in this U.S. domiciled firm, which legal form of organization would be best for Excellent Adventures to protect both William and Theodore as a corporation.

A corporation may be a large company or group of companies authorized to act as one entity and recognized intrinsically in law