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.