Business Law- One to two page memo
Instructions: You are serving as an advisor to a client who would like to change his/her sole proprietorship small business to a Limited Liability Company (LLC) or Corporation. He/she is unsure about the benefits of an LLC or Corporation. You need to find a way to explain to your friend the benefit of this type of business formation.
You decide to write a short professional memo to explain the benefit of a LLC or corporation. Prepare a well-written one-two page (single-spaced) memo. In drafting your memo, you will need to create a fictitious company you are writing the memo to assist in this business formation change.
Be sure to include the following sections in your memo.
- Explanation of an LLC or Corporation
- Conclusion showing a strong recommendation for the formation of an LLC or Corporation.
- Use grammatically correct business writing that is “audience centered, purposeful, persuasive, and economical” (M.E. Guffy & D. Loewy, 2010, p. 50).
- Be sure to cite your sources (if relevant) using APA. Please use the American Psychological Association (APA) format for in-text citations (may not be relevant in this assignment). Instruction for using APA can be found online at https://owl.english.purdue.
edu/owl/resource/560/01… ( Links to an external site.). - Do not plagiarize.
Solution Preview
Memorandum
TO: Enhance Sole Proprietorship
FROM:
RE:
DATE: July 17, 2019
The memo informs you of the significant advantages of changing your business to a corporation. The need to change your business from a sole proprietorship to a corporation is enhanced by the vast benefits over the latter, aspects that are of significance to the business owner and the shareholders. The objective of the memo is to define a corporation and compare it to the sole proprietorship type of business. The vast benefits associated with the corporation poses the need for you to change your business.
A corporation is a business structure that is owned by its shareholders who benefit from the company’s profits.
(649 words)