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Updated to reflect changing trends and new judicial developments, Corporations: Law and Policy, Materials and Problems exposes students to the richness and complexity of corporate law, with carefully crafted and painstakingly edited cases. The book's organization reflects the growing importance, doctrinally and structurally, of the business judgment rule. Each chapter includes a problem for class discussion, many of which place students in the role of corporate planners and allow instructors to highlight the real-world impact of doctrinal uncertainty concerning the scope of the director's duty of care. The fifth edition includes updated emphasis on the corporation as a set of rules meant to resolve intra-corporate conflicts and protect investor/creditor expectations. The book also provides expanded treatment of the role of institutional shareholders and outside directors in corporate governance; the debate surrounding state-chartering competition and the prominence of Delaware in U.S. corporate law; the duties of controlling shareholders; and SEC rules and Sarbanes-Oxley provisions affecting corporate disclosures and insider-trading duties.

As a part of our CasebookPlus offering, you'll receive the print book along with lifetime digital access to the eBook. Additionally you'll receive the Learning Library which includes quizzes tied specifically to your book, and outline starter and digital access to leading study aids in that subject and the Gilbert Law Dictionary. This title covers the law of business associations for introductory courses. It discusses business organizations, including agency, general partnerships, closely held corporations, publicly held corporations, limited partnerships, limited liability partnerships, and limited liability companies. The material on the unincorporated business forms has been revised, updated, and expanded to reflect the centrality of these forms of business organization in modern law practice and in the economy generally. Among other state and model statutes, the Revised Uniform LLC Act (2006), the Revised Uniform Partnership Act (1997), the Uniform Limited Partnership Act (2001), and the Third Restatement of Agency (2006) are discussed and cited.

Business Organizations Law in Focus, Second Edition provides a thorough introduction to the key attributes, advantages, and disadvantages of every form of for-profit business organization in the United States, including: partnerships, limited liability companies, and corporations. The practice-oriented approach of the Focus Casebook Series elucidates the legal and practical aspects of business organizations through real-world scenarios that provide numerous opportunities for students to apply theory to practice and solidify their understanding of key concepts. Clear exposition and Case Previews support independent learning and focus case analysis. New to the Second Edition: Significantly more editing of cases with an eye towards making case excerpts shorter and more accessible to students. Expanded coverage of LLCs in Chapter 12, including a newly added case and related exercises addressing the primacy of the operating agreement in LLC governance and 2019 case and associated exercises highlighting LCC dissolution standards. Newly-added cases and exercises in Chapter 9 highlighting the continued evolution of Delaware’s Caremark corporate monitoring and oversight doctrine, including references to the Delaware Supreme Court’s recent decision in Marchand v. Barhill, 212 A.3d 805, 809 (Del. 2019) reversing the dismissal of Caremark claims against an ice cream manufacturer over allegedly persistent food safety issues, and the Chancery Court’s decision in Clovis Oncology, Inc. Derivative Litig., C.A. No. 2017-0222-JRS, 2019 WL 4850188 (OCT. 1, 2019) denying a motion to dismiss Caremark claims involving allegedly “serial non-compliance” with FDA protocols and regulations having to do with drug approval. An additional case in Chapter 10 that asks whether the “disrespectful and unfairly disproportionate treatment of a female shareholder by the male majority in a closely held corporation constitutes corporate oppression” pursuant to New York Business Corporation Law § 1104-a (a)(1). A new case in Chapter 10 in which shareholders of AmerisourceBergen—one of the world’s leading wholesale distributors of opioid painkillers—sought to exercise their inspection rights under DGCL § 200 to investigate whether the firm had engaged in wrongdoing in connection with the distribution of opioids. Additional and expanded references to Model Business Corporation Act (MBCA) standards across Chapters 8, 9, and 10, including expanded references to MBCA standards concerning director conflicting interest transactions, the corporate opportunity doctrine, and the MBCA’s universal demand rule for derivative actions. A new case in Chapter 3 addressing duties of loyalty and candor in the partnership context that invokes the Meinhard v. Salmon standard in a manner that is more accessible to students. Updated coverage of the proxy system and proxy regulation, securities offering rules and regs, and developments in insider trading law. New cases and “spotlight” sections that address a variety of timely issues, including “unicorns” (start-up businesses with a valuation of at least $1 billion), claims involving opioid manufacturers, and corporate governance matters involving #MeToo claims. Professors and students will benefit from: Features that engage students in applying theory to practice, such as Real-Life Applications, Application Exercises, and Applying the Concepts. Experiential exercises on drafting documents and preparing appropriate filings. An overview in Chapter One of the various forms of business organization and their key attributes, advantages, and disadvantages. An emphasis on contemporary principal cases and issues that resonate with today’s students and fuel class discussion. Clear exposition of legal principles means students can absorb assigned reading on their own, and professors don’t have to explain it from the lectern in class. Attention to attorney ethical issue and rules that commonly arise in the representation of business entities. The online ascii art generator can convert text to multiline text boxes. Try it now.

This edition continues to bridge the gap between lawyers' understanding of the perspective of managers and vice-versa. It continues to meet the needs of both law students and management students. This new edition incorporates additional material on the personalities involved in and the political and social issues raised by the cases studied, and now includes two anti-takeover cases (involving Time magazine and Paramount studios). In an era of re-examination of the basic assumptions of business regulation, this text is a good introduction to the field.

Clear, succinct, descriptions of the reasoning and policy issues underlying corporate law that is accessible to law students with no business or economic background. The 2020 edition is thoroughly updated to include recent U.S. Supreme Court, Delaware and other leading decisions and regulatory developments (for example, the most recent version of the Model Business Corporation Act as well as the Delaware statute) that impact the conduct of corporate affairs including fiduciary obligations and duties in corporate transactions, governance, and management of corporations and LLCs, as well as benefit corporations, including the landscape of securities fraud suits in the federal courts, new discussions of unincorporated forms of business, insightful explanations of such news-making issues as corporate governance and director liabilities, and coverage of LLCs and LLPs.

An edited compilation of statutes, rules, and forms for use in the typical Corporations or Business Associations class, current through the Spring of 2023, including appropriate selections from: Model Business Corporation Act (with Comments) Delaware General Corporation Law California Corporations Code New York Business Corporation Law Derivative Complaint -Walt Disney Litigation Securities Act of 1933 and Securities Exchange Act of 1934 (including Rules and Forms) New York Stock Exchange Listing Standards Uniform Partnership Acts of 1914 and 1997 Delaware Revised Uniform Limited Partnership Act Delaware Limited Liability Company Act Uniform Limited Liability Company Act (2006) Restatement (Third) of Agency