LAWS 2422 - Business Organizations

4.5 Credits

Students learn about the formation and operation of business enterprises, focusing on the sole proprietorship, general and limited partnerships, limited liability partnership, limited liability company, and the business corporation. Students will be introduced to the advantages and disadvantages of each form of business enterprise. Students examine the paralegal’s role in gathering facts, organizing data, and drafting documents typically encountered in the corporate environment.

Prerequisites: (2) LAWS 1101 and LAWS 1230

Lecture Hours: 4.5
Lab Hours: 0.0
Internship Hours: 0.0
Clinical or Practicum Hours: 0.0

Course Objectives

Compare the characteristics, advantages, and disadvantages of sole proprietorships, partnerships, limited liability entities, and corporations, including formation procedures and governing laws.
Draft documents such as articles of incorporation, partnership agreements, bylaws, minutes of meetings, and written consents, using state-specific forms and statutory requirements.
Discuss relevant statutes and case law to determine appropriate legal outcomes in business scenarios involving liability, taxation, governance, and dissolution.
Examine ethical considerations, securities regulations, and corporate governance issues, including insider trading, shareholder rights, and ESG (Environmental, Social, Governance) responsibilities.
Research state statutes, secretary of state forms, and filing procedures to ensure compliance with jurisdictional requirements for business formation, operation, and termination.

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