I need a legal memo analyzing each type of business entity and select the one that is most appropriate for the doctors. Include citations.

Dr. Smith, Dr. Stone and Dr. Fitch are all pediatricians. They want to set up a practice together. Personal income tax rates are lower than corporate income tax rates. They are also concerned about liability for medical malpractice claims and want protection. They live in the state of Nita, which allows sole proprietorships, partnerships, corporations, professional corporations (P.C.s), and limited liability partnerships.

The doctors come to your law firm and ask for guidance in determining which type of business entity is best suited for their needs. Your supervising attorney assigns you the task of drafting a memo analyzing each type of business organization that is available to the doctors in the state of Nita and asks you to recommend one for the doctors.

Grading Rubric

Criteria	Ratings
Identifying All Applicable Entities	Needs Improvement Fails to properly identify all entities 1 points	Good Properly identifies each entity 3 points	Exemplary Properly identifies each entity 4 points
Describing Each Entity	Needs Improvement Fails to properly describe each entity; Fails to include all pros and cons for each 1 points	Good Properly describes each; Includes pros and cons of each 3 points	Exemplary Properly describes each; Includes pros and cons of each 4 points
Selecting Entities and Supporting Selection	Needs Improvement Fails to properly identify entity; Fails to connect to client facts 1 points	Good Clearly identifies entity and supports selection; Connects selection to client facts 3 points	Exemplary Clearly identifies entity and supports selection; Connects selection to client facts 4 points
Formatting	Needs Improvement Does not meet one of the categories 1 points	Good Proper memo formatting; Correct grammar; Correct syntax 3 points	Exemplary Proper memo formatting; Correct grammar; Correct syntax 4 points
Total: 16 points (max)