Předmět The Law of US Corporations (MVV155K)

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Materiál	Typ	Datum	Počet stažení

Cíl

At the end of the course students should be able to- discuss various legal formulations, their advantages and disadvantages;- articulate which formulations would be most advantageous to the entrepreneur in a number of hypothetical business transactions;- discuss corporate formation, the legal requirements thereof;- elect the jurisdiction which is most advantageous for your business formulation;- identify significant areas where American corporate law diverges for the laws of the Czech Republic;- formulate an opinion as to why such distinctions exist;- evaluate the most advantageous legal entity for a hypothetical client’s business transaction.

Osnova

CLASS ONE :A. CLASSIFICATION OF BUSINESS FORMS1. THE SOLE PROPRIETORSHIP – The single owner of a service oriented business with no employees.2. THE PARTNERSHIP - Introduction to the more formal type of business arrangement when multiple owners are contemplated and a written agreement on the sharing of profits and losses is advisable. Discuss pros and cons and contrast with the corporate form.3. THE INCORPORATED LEGAL ENTITY - Corporations, Limited Liability Corporations, Business Trusts, Special Purpose entitiesB. BUSINESS, LEGAL AND LIABILITY CONSEQUENCES OF DECISION ON CHOICE OF ENTITYCLASS TWO:THE LIMITED LIABILITY CORPORATION (LLC) A HYBRIDA. HISTORY AND NEED FOR HYBRID ENTITYB. PARTNERSHIP CHARACTERISTICSC. CORPORATE CHARACTERISTICSD. TAX CONSIDERATIONSCLASS THREE:TAX CONSIDERATIONS IN THE CHOICE OF BUSINESS ENTITYA. AVOIDING DOUBLE TAXATIONB. LIMITATION OF EMPLOYMENT TAXESC. FEDERAL AND STATE TAX CONSIDERATIONSCLASS FOUR:SECURITIES AND EXCHANGE COMMISSION (SEC) – FEDERAL REGULATION OF CORPORATE ACTIVITIESA. SEC enforcement actions – see case review.B. Sarbanes – Oxley Legislation- Need for greater corporate board accountability and oversight - violations and enforcement actionsC. Holding Management accountable for corporate activities - Shareholder rights -Shareholder derivative law suitsCLASS FIVE:MANAGEMENT AND CONROL OF CORPORATIONS – CONFLICTS OF INTERESTA. The Duty of CareB. Duty of Loyalty –Sinclair Oil v. LevienC. Business Judgment Rule – Gall v. Van GorkomCLASS SIX:MERGERS, ACQUISITIONS AND HOSTILE TRANSACTIONSA. Unocal DecisionB. Smith v. Van GorkomC. Gall v. Exxon Corp; Essex Universal v. HarrisCLASS SEVEN:MERGERS, ACQUISITIONS AND HOSTILE TRANSACTIONSA. Hollinger v. Hollinger International, IncB. Irving Bank Corp. v. Bank of New York, Inc.C. Ash v. McCallCLASS EIGHTCORPORATE PERSONHOOD- CORPORATION’S RIGHTS UNDER THE US CONSTITUTION INCLUDING EQUAL PROTECTION, SEARCH AND SEIZURE AND FREEDOM OF SPEECH. – Analysis of U. S. Supreme Court opinion in Citizens United litigation and the precedents overruled in the process.

Literatura

Copies of all cases for discussion will be distributed at the class session prior to the date of discussion.

Garant

JUDr. Jiří Valdhans, Ph.D.

Vyučující

JUDr. Jiří Valdhans, Ph.D.