You own and operate a small store. Currently, you are a single proprietor. What kinds of risks and liabilities are you facing? How could you address these risks by becoming incorporated? Discuss some of the advantages and disadvantages to corporate business organization.

I could spend hours discussing this with you but the real issue here is what have you learned in school? This is why they want you to answer the question and not me.

Thanks a lot, I just wanted some ideas from others, that's all :)