Mr J Russia desires to protect and manage his assets for the benefit of his wife and two kids. He approaches you and gives you the following information: 1. The entity object should be certain and lawful. 2. Mr Russia also tells you that he wants the entity to make profit for the benefit of third parties. Identify the type of business entity while explaining how it works, its requirements as well as its advantages and disadvantages..

1. Mr J Russia desires to protect and manage his assets for the benefit of his wife and two kids. He
approaches you and gives you the following information: 1. The entity object should be certain
and lawful. 2. Mr Russia also tells you that he wants the entity to make profit for the benefit of
third parties. Identify the type of business entity while explaining how it works, its requirements
as well as its advantages and disadvantages.