Creation of Corporations

uyen and Van are two friends who have worked in a high-end restaurants for many years. Van is a highly regarded chef and Huyen has excellent experience in management. They have always wanted to open a Vietnamese-French fusion restaurant in Dallas, Texas. They have saved a substantial amount of money, but they will need to acquire additional c​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​apital from investors, preferably by loans to the new business. They will also need to lease restaurant space, acquire equipment, and enter into various agreements before the restaurant will open. They figure that they will need to put about $500,000 into the place before it opens, but expect that it will be very popular and profitable. As they think about going forward with the project, what legal issues should they think about, and what advice might you, as a friend, give them​‌‍‍‍‌‍‍‌‍‌‌‍‍‍‌‍‌‌‌‍​?

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