Harold Williford recently patented a new iron, Burnless. This iron allows the user to iron clothing while wearing them without causing any harm to the user. Harold would like to establish a company to manufacture, sell, and market the new product. Harold is cash-strapped and has few financial resources. He seeks your advice on which form of business he should create. Write a paper in which you explain which business form (sole proprietorship, general partnership, corporation, or limited liability company) Harold should select. Further, discuss the advantages of your selected business form over the other three.
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