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Business Planning

William Henderson
B632, Fall, 2009

Description

This course focuses on the role of the lawyer as an advisor to closely held businesses and their owners. Numerous case studies are used to expose the student to a broad range of structural planning issues and the practical and analytical challenges of the planning process. There is a heavy emphasis on planning traps and creative planning strategies. Different types of closely held businesses are analyzed, compared, and contrasted in case studies that raise important issues in co-ownership planning, enterprise funding, choice of entity planning, multiple entity planning, owner compensation, key executive planning, life insurance planning, structuring profit and capital interests, profit distribution planning and diversification, exit and business transition planning, employee relations and benefits, and retirement planning. Numerous drafting considerations and implementation mechanics also are reviewed. The course is designed to broaden the student's substantive knowledge on a broad range of issues and to help the student develop three essential planning skills:

  1. the ability to identify and address business objectives, not just legal issues;
  2. the ability to evaluate and apply specific strategic options;
  3. the ability to effectively communicate with non-lawyers.