You just passed the bar and are working at a small firm in College Station when a new client strolls into your office with the following situation:

"I'm Jimmy Billy Bo Bob Bates from up the road in Podunkia and I've got an issue I may need some help with sir. I've got this new product that I think can really sell big in College Station and Aggie alums. It's a cologne/perfume that makes you smell just like Reveille. People love that dog so much I just know it's going to be a hit with so many aggies across the country. Everyone I've talked to in Podunkia is so excited about it. In fact, I have 90 cousins and each of their spouses lined up to be potential investors at $500 a piece on average. I spoke to the fellers at the bookstore on campus and they said they'd love to carry it when I get it in production. My cousin Sammy Jo Dean Bates told me to ask an attorney about what I might need to do. The investor cousins don't want to have nothin' to do with the business, as they got jobs already. Some are concerned about their personal money, as a bunch of them went in together and won that lottery last year. They're also worried about damaging side effects like smelling like a Longhorn cow or other travesties. Do I need to do nything special or should I just take their money and get going? I'm not rich, so I would like to limit the upfront costs as much as possible, as well as taxes."

Your task is to draft a memo to the client expressing your opinion as to what he should do with regards to the organization of his business given the circumstances described. You should discuss completely the business entity you recommend and also explain why you might not have felt that the other entities we studied were very appropriate. This latter piece can be done in a sentence or two with most of the entities. Do not discuss the LLP or FLLP as an option. This is your chance to show that you can apply the class concepts and terminology appropriately.

Format: This memo (look up general formatting if you don't know) is to be typed in Times 12 point font. Memos are generally single spaced. The correct length is whatever it takes to adequately explain your recommendation to the client and briefly discuss exactly why you would not recommend the others. I doubt a quality paper will be much less than 1.5 , but should not exceed 3.

As a new legal professional, you should also be correctly using basic grammar conventions with regards to spelling, punctuation, and proper phrasing. This includes using memo format and citing (internally) where appropriate, as well as including any references used at the end. These issues are worth 25 total points. A detailed grading rubric may be found on the next page.