Courses 2013 - 2014
LAW T 525 Advising Privately-Owned Businesses
The course focuses on the role of the lawyer as an advisor to privately-owned businesses and their owners. Case studies are used to examine a broad range of structural planning issues and the practical and analytical challenges of the planning process, with emphasis on tax and business considerations, tax traps and pitfalls, and creative planning strategies. Different types of privately-owned businesses and analyzed, compared and contrasted in the case studies. Planning issues that are examined include: choosing the best entity form; organizing and funding the entity; multiple entity techniques; remedying prior entity mistakes; the "deal" among multiple owners; owner distribution and compensation strategies; segregating control, income and capital interests; compensation and retention strategies for key employees; entity and owner insurance planning; business continuity challenges; alternative exit strategies and related owner planning impacts; employee planning. Select drafting considerations and implementation mechanics also are reviewed. The course is designed to broaden the student's substantive knowledge on a broad range of structural issues and to help the student develop analytical and planning skills. Prerequisite: A530 Basic Income Tax or equivalent and recommended pre- or co-requisite: A515 Business Organizations.