“…We argue that this scenario is appropriate for this study because the optimal time to seek professional advice for the small business owner is often in the entity formation stage (Schanz 2007). Out of all the legal decisions to be made regarding the organizational structure of the venture-agreements between founders and owners, financing, contracts, risk management, intellectual property, management and control of business entities, ease of transferring interests, and labor relations (Mann, O'Sullivan, Robbins, and Roberts 2004;Schanz 2007)-one of the most common legal issues in this phase is entity formation (Malach, Robinson, and Radcliffe 2006). Selecting the best entity for the particular small business client is a high priority (Mann et al 2004), and small business owners need to utilize their advisers early in the start-up process to derive the best benefits (Marcum and Blair 2011).…”