TECH 516 - Foundations in Business Law for Scientists and Other Non-Lawyers

Course Description

Scientists and Business Development professionals looking to understand the different types of business structures and the legal implications of each and learners interested in pursuing business opportunities of their own (e.g., spin-offs, start-ups, etc.) will benefit from this course. Students will learn the various types of business formations (e.g., Corporations, Partnerships, Limited Liability Companies, Limited Liability Partnerships, Sole Proprietorships, etc.), the advantages and disadvantages of each (e.g., ownership structure, tax implications, risk profiles, etc.), and the process of business formation. Students will also be exposed to common business contract terms and litigation claims and defenses (e.g., breach of contract claims, reaching through to parent company or business owner assets, and strategies to resolving litigation).

Learner Outcomes

When you complete the course successfully, you will be able to:

Analyze the advantages and disadvantages of each business association discussed in this course and apply those to specific fact patterns.
Examine various examples of business litigation to understand the real-life implications associated with each business association discussed in this course.
Draft articles of organization and an operating agreement for a mock LLC, demonstrating necessary steps for starting a business.
Engage in a broad discussion of common business contracts and familiarize themselves with the meaning and impact of various terms encountered therein