Daphne and Simon want to start a business together making and selling cupcakes and other desserts. They want to name their company Diamond of the Season Cupcakes. They are trying to decide whether to form: a general partnership, a limited liability partnership, or a limited liability company. Their objectives are to form an entity with the best combination of the following features: (1) ease of formation; (2) limitation, to the extent possible, of personal liability for debts and other financial obligations of the business; (3) favorable tax treatment; and (4) flexibility in management of the business. In a brief memorandum (two-page maximum), make a recommendation to Daphne and Simon about which entity they should form and why. Your analysis should include a comparison of the advantages and disadvantages for each type of entity they are considering (i.e., you should not discuss every type of entity covered in the assigned reading). In making your recommendation, be sure that you are prioritizing Daphne and Simon's four stated objectives.