You will no doubt want to consider the following, but you are certainly free to (and encouraged to) discuss any other issues you believe to be pertinent: management issues liability issues taxation issues inheritance issues nepotism If you opt for a partnership form, you will need to discuss what law you are using and what provisions will be addressed in the partnership agreement.

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.