PRL 143 - Business Organization Law

Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: Voc/Tech

This course will cover instruction in the law of legal entities used in conducting business. An exploration of the similarities and differences between sole proprietorships, partnerships, corporations, limited liability companies, and other types of business organizations will be covered. An examination of the process necessary for the creation and existence of various business organizations, including study of the operation of a corporation and special topics in business law.
Prerequisite: PRL 102, PRL 103, PRL 112
Competencies

Analyze Various Business Organizational Models
1. Describe Sole Proprietorships
2. Compare General and Limited Partnerships
3. Discuss Limited Liability Partnerships and Companies
4. Define Agency Relationship
5. Explain Corporations
Examine the Formation of Corporations
1. Discuss the Preincorporation Phase
2. Identify the Corporate Name and Jurisdiction
3. Define Articles of Incorporation
4. Distinguish Postincorporation Phase
Compare Securities and Taxation of Corporations
1. Describe Types of Stocks
2. Discuss Types of Debt Securities
3. Identify Types of Corporate Taxation
Analyze Corporation Management
1. Define Shareholders’ Rights and Responsibilities
2. Describe Director’s Rights and Responsibilities
3. Discuss Corporate Reform- Sarbanes-Oxley and Dodd-Frank Acts
4. Differentiate Corporate Dividends
Analyze Securities Regulation and the Stock Exchanges
1. Compare Changes in Corporate Structure
2. Describe Termination of Corporate Existence
Investigate Special Topics in Corporate Law
1. Define Employee Compensation and Agreements
2. Contrast Business Ethics and Legal Ethics
3. Discuss Common Interdisciplinary Issues including Contracts, Leases, Intellectual Property, Antitrust Law, Unfair Competition and Bankruptcy