Catalogue 2019 - 2020

LLMC 862 Operations of Closely Held Business



Course Description

This course provides an overview of the legal problems involved in the formation and operation of closely held businesses. For purposes of this course the term closely-held business will mean any business whose ownership interests are not publicly traded. The course will focus on both the unincorporated and incorporated business. Primary emphasis will be given to the limited liability company, the limited liability partnership and closely-held corporations. Topics will include the mechanics of entity formation; management and control of the closely held business; financial rights and liabilities of the entity's owners; fiduciary duties among the entity's owners; the transferability of entity ownership; and exit rights during dissociation and dissolution.