Members:

Erzon John Lucernas

Mark Anthony Camangeg
Andril Lian Terante

Title: Automated Coconut Sugar and Syrup Production Machine

Business Type: Partnership
Reasoning:
Our business is a collaboration, but the production machine we offer is a form of
machine that can give those coconut farmers and tenants another source of income. This
business is staffed by two to three people. This business requires additional investors or
customers that will purchase our machine. In contrast to a corporation, a partnership does
not exist independently of its individual shareholders. The partnership does not pay
income tax on its own.

A business partnership typically starts with a verbal agreement between the partners to
start a new company or to split an existing company. This agreement is then formalized
in a written document that specifies the type of partnership and the terms of the
agreement and is signed by all parties.

The fact that our business is a partnership, it may be due to the fact that improved
communication makes handling issues and its scope less difficult that leads to faster
growth.