Unincorporated Business Organizations

Credits: 3.00
Faculty: Bradley Borden

Unincorporated business organizations (i.e., limited liability companies, all forms of partnerships, and business trusts) have become a vital part of the economy. They are the vehicle of choice for small businesses; venture, private equity, and hedge funds; real estate investment firms; various operations of multi-national companies; professional services firms; and many other venturers. The number of unincorporated business organizations formed each year continues to grow rapidly, and their share of all assets held and all income earned by businesses is growing. This practice-focused course covers topics such as the source of law governing unincorporated business organizations, their formation, the scope of limited liability afforded such organizations and practices that may jeopardize that protection, management arrangements of such organizations, transfers of interests in such organizations, cross-hybrid and other reorganization transactions of such organizations, and their capital structures. The course will provide hands-on opportunities to study and analyze organizational and transactional documents commonly used by such entities and determine the effect various provisions of such documents have on the legal and economic rights and obligations of the members of unincorporated business organizations.

Grading and Method of Evaluation:

Letter grade only. Final exam or problem preparation, analysis, and classroom participation.