Business Organization

Catalog description

Several types of entities are permitted by law to conduct business, with each entity having different characteristics, powers and liabilities. This course deals with the formation and liabilities of sole proprietorships, and the law of partnerships, their liabilities, taxes, termination of them, as well as relationships among partners and with third parties. Included are limited partnerships as well as traditional partnerships. Corporations, their formation, pre-formation responsibilities, powers, ownership, management, shareholders, officers, directors and termination of them are considered. Closed corporations and professional corporations are highlighted. Selected topics include employment agreements, structure, trade secrets protection, restrictive covenants, compensation plans, dividends and other distributions, stock splits, and limited liability companies.