There are some different kinds of business structures, but if you want to run a business with you friend the most suitable for you would be creating a partnership.
There are 2 kinds of a partnership-
Simple partnership
LLP* partnership.
In my opinion, you should create LLP partnership. In this partnership partners have limited liability. The LLP is a corporate body with a separate identity from the partners. It means that your personal assets are protected in chance of bankrupt.…
