Fiduciary Duties Imagine playing in a sporting event with a player on your team who injures his own teammates. Worse, you suspect he’s doing it on purpose, so he can boost his own scoring opportunities. You check the rulebook, but ...

Governing agreements are contracts. For most contracts among private parties, freedom of contract means that, aside from establishing fundamental guidance for their validity (such as the need for an offer, acceptance and consideration) and providing for basic fairness (such as consumer warranty ...

In the first module, we introduced business governing agreements and how they apply to three of the most common forms of companies: corporations, limited liability companies and partnerships. We considered questions including the advisability of having a governing agreement, whether ...

In any joint endeavor, whether it’s children getting together to build a tree house or entrepreneurs and investors establishing a multi-million-dollar business, human experience teaches us that “making up the rules as we go along” invites uncertainty, discord, power struggles, mission failure, and ...

On March 4, 1977, the Wyoming state legislature passed a statute that authorized the creation of the United States’ first limited liability company. The statute presented one of the most sweeping changes in business organization law in the country’s history. The ...

Think of the largest and most well-known American companies such as Apple, General Motors, Wells Fargo and ExxonMobil. All are publicly traded companies, driving business activity in the United States. A public company is one that sells shares of ownership ...

Operating a small business isn’t easy and these businesses fail at a staggering rate. Every year, over a million people in the United States form small businesses and by the end of the first year of operation, at least 40 ...

An entrepreneur starts a new business every eleven seconds in the United States and one in twelve Americans attempts to start a new business annually. Business organizations can be legal entities through which investors and entrepreneurs provide goods and services ...

One was a master of analytics while the other had an unrivaled business foresight. Together, Apple co-founders Steve Wozniak and Steve Jobs formed one of the most successful business partnerships in the history of the United States. By choosing to ...

An entrepreneur starts a new business every eleven seconds in the United States and one in twelve Americans attempts to start a new business annually. Business organizations can be legal entities through which investors and entrepreneurs provide goods and services ...