Business memo

Instructions attached in the document below

Business Entity Application Memo
Fact Pattern:
You just passed the bar and are working at a small firm when one of the partners hands you the following
situation to address:
Jim Linzy, a new client of the firm, owns all rights to develop, manufacture, and sell a new computer he
believes will perform better and cost less than other computers of equal capacity. Jeffrey has two wealthy
friends, Eleanor and David, who are interested in investing in this business with him. Each of the three
would invest $100,000. There may be a substantial risk in this new business, and the investors do not
want their family fortunes at risk. In setting up the business, there are four principal objectives the
investors want to accomplish:
1. To limit the liability of each investor to the $100,000 that each contributed;
2. To give each investor assurance of an equal voice in the management and operation of the
business without exposing them to personal liability;
3. To ensure that the profit and loss resulting from the business can be reported as income or taken as
a deduction directly on the individual’s federal tax returns of the investors without being taxed
first to the entity.
4. Limiting the cost of forming the enterprise should also be considered.
They have some entity knowledge and wish to consider ONLY the following four business entities:
• General Partnership
• Limited Partnership
• LLC
• C Corporation
Format: This memo (look up general format if you don’t know, and there is also an example in
Canvas) must be typed in Times New Roman, 12-point font. Your memo should be single-spaced. The
correct length is whatever it takes to explain your recommendation to the client adequately and briefly
discuss why you would not recommend the others. Generally, a quality memo will be approximately 1.5
pages long, but should not exceed 2.5 pages.
Grammar issues are worth 24 points. This includes using memo format, citing (internally) where
appropriate, and including references at the end. As a new legal professional, you should also be using
basic grammar conventions correctly with regard to spelling, punctuation, and proper phrasing. Detailed
grading rubrics are attached to the assessment directions near these general instructions.
Copyright. (2023) by Lucas Loafman at Texas A&M University-Central Texas, College of Business
Administration; 1001 Leadership Place, Killeen, TX 76549; 254-501-5944; Fax 254-501-5825;
loafman@tamuct.edu
Memo General Rubric
Retake the Bar
Exam
Probably an
Ethics
Complaint
Writing Quality Not in memo
There are issues
Overview (see
format and/or has with proper
separate rubric rampant issues
memo format
below for the
with grammar.
and/or
breakdown of
(0-8 points)
approximately
this component)
five
grammatical
issues per page
on average. (916 points)
Entity Choice
There is no way
You did not
this entity should choose an
have been
appropriate
chosen. (0-5
entity. (6-10
points)
points)
Analysis
Accuracy issues
There were
were rampant,
significant
and/or business
accuracy issues
entities were not in discussing
the focus, and the your chosen
paper deviated
entity, and/or
significantly into multiple entities
other matters. (0- were not
24 points)
mentioned. (2542 points)
Paying the Bills
Going to be the
next TV star!
There may be a
slight formatting
issue, and/or there
are approximately
three mistakes per
page on average.
(17-20 points)
The submission is
in proper memo
format and
contains
approximately one
grammatical
mistake per page
on average. (21-24
points)
Your entity choice
could work, but is
not the best, given
the facts. (11-13
points)
There were no more
than two minor
errors regarding the
chosen entity
discussion, and/or
one key entity may
have either been
left out or needed to
be discussed more.
(43-53 points)
You recommended
the most
appropriate entity,
given the facts.
(14-16 points)
For your chosen
entity, all
characteristics
were discussed
accurately, and
there was a good
discussion of why
the other major
entity forms were
not recommended.
(54-60 points)
Copyright. (2023) by Lucas Loafman at Texas A&M University-Central Texas, College of Business
Administration; 1001 Leadership Place, Killeen, TX 76549; 254-501-5944; Fax 254-501-5825;
loafman@tamuct.edu
Writing Quality Rubric
Sub-competency
Mastery
4
Proficient
3
Developing
2
Novice
1
Readability
• Organization
• Flow of thought
• Transitions
• The paper topics
were covered in the
appropriate order
without repetition.
• The paper was easy
to follow, and no
rereading was
necessary.
• The paper utilized
smooth and
effective transitions
between topics.
• Some topics were
out of order, and
there was some
repetition.
• The paper was
difficult to follow;
rereading was
necessary in several
parts.
• There were issues
with the clarity and
effectiveness of
transitions between
topics.
Language
• Vocabulary
• Tone
• The paper used
sophisticated and
correct topical
vocabulary.
• The tone was clear
and appropriate for
the intended
audience
• The topics were
covered in an
effective order
with minor
repetition.
• The paper was
generally
followable; only
minor rereading
was necessary.
• The transitions
between topics
were mostly
smooth and
effective.
• The paper’s
vocabulary was
acceptable and
mostly correct
for the topic.
• The was mostly
clear and
appropriate for
the audience.
Grammar (1.5 times the
column points)
• Sentence structure
• Punctuation/mechanics
• The paper used
complex sentences
for effect and
impact.
• There were no
punctuation or
mechanical errors.
• The paper used
some compound
sentences, but
several were simple
and choppy.
• There were more
than three
punctuation and/or
mechanical errors
per page.
Citations and References (1/2
of the column points)
• Proper attribution to
avoid plagiarism
• Correct form (APA, MLA,
Chicago)
• Almost all factual
information was
cited.
• The citations and
references
completely
conformed to a
professional style
(APA, MLA,
Chicago).
• The paper
generally used
compound
sentences
effectively.
• There were no
more than two
punctuation
and/or
mechanical
errors per page.
• Most factual
information was
cited.
• The citations and
references had
minor deviations
from a
professional
style (APA, MLA,
Chicago).
• The topics were
not covered in a
logical order, and
there is
substantial
repetition.
• The paper was
incredibly difficult
to follow, with
frequent
rereading
needed.
• The transitions
were ineffective
or missing.
• The paper used
simple vocabulary
and was not
correct for the
topic.
• The tone was
completely
inappropriate
tone for the
audience.
• The paper
frequently used
simple, choppy
sentences.
• There were more
than five
punctuation
and/or
mechanical errors
• The vocabulary was
more limited, and
there were several
inaccuracies about
the topic.
• The tone was
somewhat
appropriate for the
audience.
• Some factual
information was
cited.
• The citations and
references
substantially
differed from a
professional style
(APA, MLA,
Chicago).
• Minimal, if any,
factual
information was
cited.
• The citations and
references did
not follow a
professional style
or were missing.
Copyright. (2023) by Lucas Loafman at Texas A&M University-Central Texas, College of Business
Administration; 1001 Leadership Place, Killeen, TX 76549; 254-501-5944; Fax 254-501-5825;
loafman@tamuct.edu