Final answer:
Individuals in specific licensed professions such as medicine, law, engineering, or accounting can form a Professional Service Limited Liability Company (PLLC) with other professionals to offer their services collaboratively, while benefiting from limited liability protection.
Step-by-step explanation:
An individual may form a Professional Service Limited Liability Company (PLLC) with other professionals to offer services within their expertise. This type of business entity allows licensed professionals, such as doctors, lawyers, engineers, and accountants, to pool their resources and work together while providing limited liability protection. Each state may have specific rules on which professions can form a PLLC together, often requiring all members to be licensed in one of the professions the PLLC will provide services for. This structure is designed to comply with state laws that require certain professional services to be owned and operated by licensed practitioners.