Assignment 8 – Summative– Legal PlanAssignment InstructionsFor your final summative assignment, you complete the legal section of a business plan. Include the following: A defense for the form of business entity for the company you’ve chosen, the number of owners, and other factors. An explanation of liability with federal, state, and local taxes and how you will protect the business and yourself (if sole proprietor). An explanation of any patents, copyrights, trademarks, trade secrets, and IP. An explanation of any contracts that will be needed. An explanation of how you will comply with insurance required by law–social security, unemployment, and worker’s compensation. An explanation of how you will protect the business again the four general categories of insurance–property, liability, earnings, and health/disability/life.