You and a close friend are contemplating the start of a business. The business is for the purpose of designing webpages. You each intend to contribute $10,000.00 a seed money. Because each of you has your own job, you are going to have to hire employees. You are both very creative and concerned about employees taking your design templates and starting their own businesses. You are also not sure about whether you want to form a partnership, corporation or limited partnership.
Please set forth the position you would take concerning the type of business entity you want to form and support your decision by listing the reasons that you are choosing the particular entity.
Also, discuss how you intend to protect your business properties (templates, etc.) so that the employees you hire will not â€˜stealâ€™ your templates and designs.