LEGAL 260 - Business Organizations

3.0 Credits
This course provides a comprehensive introduction to the laws governing business entities, including sole proprietorships, partnerships, LLCs, and corporations, with an emphasis on Washington law and the role of paralegals in supporting business operations and compliance. Students will examine essential components of business law, including agency principles, fiduciary duties, and the responsibilities of corporate officers, directors, shareholders, and partners. Key topics include entity formation, management structures, liability, and regulatory compliance at both state and federal levels. Practical exercises guide students through preparing and reviewing essential business documents, such as operating agreements, articles of incorporation, and bylaws. No prior legal training or experience with accounting, economics, or finance is required to take this course.
Course-level Learning Objectives (CLOs)
Upon successful completion of this course, students will be able to:

Evaluate and differentiate the advantages, disadvantages, and structural features of sole proprietorships, partnerships, LLCs, and corporations to determine the most suitable entity for specific business contexts.
Analyze and apply the principles of agency law, including contract and tort liability, to understand their impact on business relationships.
Identify and explain the roles of state and federal laws in the formation, regulation, and operation of sole proprietorships, partnerships, LLCs, and corporations.
Develop, review, and apply essential formation and operational documents, such as partnership agreements, operating agreements, articles of incorporation, and bylaws, to ensure compliance and readiness.
Describe and apply fiduciary responsibilities and ethical obligations of officers, directors, shareholders, and legal professionals in case scenarios involving conflicts of interest and ethical decision-making.
Identify and implement ethical principles, including confidentiality and conflict of interest, in managing business organizations according to professional standards for paralegals.
Understand the required steps for business formation, including filing, record-keeping, and ongoing compliance, to ensure each business entity type meets legal standards.

Course Typically Offered
Fall