Due to the risk of environmental hazard related to toxic waste disposal, the need to purchase several vehicles, acquire a licensed landfill, hire several employees and secure financial funds, firm individual, with unlimited personal liability, would not be advisable. While a partnership would help Stan gain greater financial and operational support, he would still be subject to unlimited personal liability for his actions and potentially those of his partners (depending on the type of partnership he uses). Because a corporation exists as a separate legal entity that owns property, rights, and liabilities separate from the owner, Stan would have limited personal liability (he theoretically cannot lose more than he invested in the company); and could use equity financing to reduce the amount of its financial debt, offer better repayment options and increase the chances of business success. Furthermore, while the corporate veil can be pierced, this is not a common occurrence and only occurs in cases of serious wrongdoing. Therefore, of the three options for Stan's toxic waste business, a corporation would be most beneficial to him as it is the only form of business organization that provides him with both limited personal liability and equity financing options for