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Business enterprises is a core class for any future lawyer who wants to work with businesses. Understanding the types of businesses and the rules that govern them is key. The course will start with discussing partnerships and the rights of partners. It is also important for you to know the responsibilities of partners, because each partner is liable for the business torts of each other partner.
You will also learn the rules of how a partner, or someone acting as if they are a partner, can bind the company in an agreement. After learning all of the risks of a partnership, you will learn about corporations and limited liability companies. These are types of businesses that limit the liability of the owners and operate as separate legal entities. There is also an established set of rules for these types of companies; these rules protect minority owners, allowing them to sue to protect their interests or making sure that they have access to the books and records of companies.