Q Assignment Scenario Jan and Lee are professional photographers who specialize in family portraits. They want to open their own photography studio in Pittsburgh under the name Yellow Bridge Photography. They have found available space that can be renovated and leased, but they have limited business experience. They estimate start-up costs of $40,000 and have agreed to a 50/50 deal to split costs and operate the new studio. Jan tells Lee that she has spoken to her accountant. She proposes to operate the studio “as a 50/50 proprietorship” and explains that this avoids the expense, paperwork, and additional taxes that could be due from forming a new entity. You are a recent law school graduate practicing commercial law, and Lee is your client. Lee has heard of limited liability companies and wants your legal advice on whether an LLC for the new studio would be a better choice than Jan’s proposal. You decide to advise Lee, in writing, on the benefits of an LLC and include analysis of key issues of liability protection, income taxes, and use of an LLC operating agreement. Assignment Instructions Submit a concise memo of 250–500 words. Before submitting, please be sure to prepare and edit your work in a word processing program to correct errors and refine your submission. Grades for this assignment will be based on the quality of your submission and analysis on the key issues of use of an LLC structure, liability protection, income taxes, and use of an operating agreement. To get full marks, your submissions should: • respond in accordance with the assignment instructions and subject matter; • include your careful analysis and thinking; • include references and citations to supporting course materials or outside sources where utilized; • be organized, refined, and well-written; and • be edited to correct errors and ensure clear communication of your thinking. Rubric Writing Assignment Rubric Writing Assignment Rubric Criteria Ratings Pts This criterion is linked to a Learning OutcomeAssignment Subject Matter 15 pts High quality, substantive written response that clearly and fully addresses the assignment instructions, expectations, and subject matter. 12 pts Submission adheres to assignment instructions, but may not make connections to the lesson or deviates slightly from assignment expectations or subject matter. 9 pts Submission examines assignment instructions, but makes limited connections to the lesson or deviates moderately from assignment expectations or subject matter. 6 pts Submission loosely addresses the assignment instructions and expectations, and/or does not make connections to the lesson or subject matter. 0 pts No Marks 15 pts This criterion is linked to a Learning OutcomeAnalysis 15 pts Correctly identifies and thoroughly, thoughtfully analyzes all relevant factors related to the assignment. 12 pts Identifies and thoughtfully analyzes most relevant factors related to the assignment. 9 pts Identifies and analyzes relevant factors related to the assignment, but there are some omissions in identification and/or analysis. 6 pts Failed to identify and/or analyze many relevant factors related to the assignment. 0 pts No Marks 15 pts This criterion is linked to a Learning OutcomeWriting Quality and References 10 pts Organized, refined, and well-written submission that uses proper spelling, grammar, punctuation, and sentence structure expected of a college-level business student. Submission follows a logical flow and includes references to supporting course materials. External references are cited appropriately where utilized. 8 pts Consistently uses proper grammar, punctuation, sentence structure, and logical flow with few exceptions. Submission includes references to supporting course materials, and outside sources are cited where utilized. 6 pts Submission includes minor issues with grammar, punctuation, and/or sentence structure, and/or issues with organization. Submission includes references to course materials, but lacks external citations where appropriate. 4 pts Submission includes several instances of improper grammar, punctuation and/or sentence structure and/or does not exhibit a logical flow. Submission alludes to sources generally but does not include any references or citations. 0 pts No Marks 10 pts Total Points: 40 PreviousNext