I'm part of a team of 3 developing a mobile application. As we're nearing a release date and more important decisions are needing to be made, we're starting the discussion of whether to establish a Partnership, LLC, or Inc. We're all in mutual trust with each other, so dishonesty is not a primary concern.
From my understanding a partnership is simpler to establish but there's personal liability. An LLC's biggest disadvantage is that it can't go public. Inc sounds like it has a lot of hoops to jump through.
Given the nature of this community, I figured I might glean some unique insight. If there are other questions like this, feel free to just link me to the resource/question.
Thanks!