Jake developed an innovative stain-removal product after yea…
Jake developed an innovative stain-removal product after years of experimenting with chemical formulas. Confident that his invention had great potential, he wanted to start a business to manufacture and market the product. However, Jake lacked the financial resources needed to launch the company. His wealthy aunt agreed to invest a significant amount of money but did not want to participate in managing the business or making daily decisions. Jake would oversee all business operations, while his aunt would contribute only capital and share in the profits according to a written agreement. What form of business ownership does this scenario represent?