Instructor(s) Gehl, Michael
This is an introductory course that covers the laws governing business relationships, including principal-agent relationships, general and limited partnerships, limited liability partnerships, limited liability companies and corporations. Topics covered will be formation requirements, management rights, liability to business affiliates and to third parties and dissolution. The methods by which business entities are combined will be briefly discussed. Devices used to control closely-held businesses, the rights of minority owners of those businesses and methods by which those rights can be protected will also covered. Examples of documents used in connection with these business relationships and transactions will be distributed and discussed. One class will provide a primer on the fundamental income tax characteristics of different forms of business entities. Students will learn how to counsel clients on choice of the proper form of business entity and how to structure relationships among its owners.