BUS-307 Business Law II builds on the foundational legal concepts of BUS-206, examining the main types of business entities and their defining characteristics, business formation and legal structures, SEC registration processes, negotiable instruments and liability issues, fraud and legal defenses, corporate governance and ethics, bankruptcy, agency relationships and fiduciary duties, and product liability and risk management.
Business entity formation and structure
The course covers the main types of business entities — corporations, partnerships, LLCs — and the legal implications of choosing one structure over another, a foundational decision that shapes a business's liability exposure and governance from day one.
Governance, compliance, and risk
BUS-307 covers corporate governance, SEC registration, and bankruptcy — the legal frameworks that govern how established businesses operate responsibly, raise capital compliantly, and navigate financial distress if it occurs.
Key topics in BUS307
- Business entity types and formation
- SEC registration processes
- Negotiable instruments and liability
- Corporate governance and ethics
- Bankruptcy and financial distress
- Agency relationships and fiduciary duties
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Worked example: entity choice shaping legal exposure
- Sole proprietorship: Simple to form, but the owner bears unlimited personal liability
- Corporation or LLC: More complex to form and govern, but limits the owners' personal liability exposure
- Lesson: BUS-307 teaches that business entity choice is a genuine legal risk-management decision, not just an administrative formality
Related courses
Frequently asked questions
BUS-206 establishes the foundational legal system, contracts, torts, and agency concepts that apply broadly to any business, while BUS-307 goes further into the specific legal frameworks that govern how businesses are formed, structured, financed, and governed as ongoing entities — business entity types, SEC registration, corporate governance, and bankruptcy. A student needs BUS-206's foundational legal literacy before BUS-307's more specialized entity-formation and governance topics make full practical sense.
Different entity types carry genuinely different consequences for the owner's personal liability exposure, tax treatment, and governance requirements — a sole proprietorship exposes the owner's personal assets to business liabilities, while a properly formed corporation or LLC can shield personal assets in most circumstances — meaning entity choice is a substantive legal risk-management decision, not a mere administrative formality. BUS-307 covers this because understanding these real consequences is essential before forming or advising on any business structure.