Penn State
Lewis Katz Building, University Park, PA
twitter   facebook   linkedin   Instagram   webmail
Give Now Apply Now

Minority Business Ownership: The Lawyer’s Role in Closing the Minority-White Gap

Course Abbreviation: 
ULWR 952
Credit Only: N Anon Gr: N

This seminar is broken into the following three parts:

Part I, Introduction and in-Depth Analysis of the Minority-White Gap in Business Ownership, will focus on understanding the current state of the differences between white and minority business ownership and the underlying reasons for such differences. This section of the course will run for four weeks.

Part II, The Lawyer’s Essential Tools In Representing a Minority-Owned Small Business, will focus on some of the basic tools a lawyer needs when advising on the formation and operation of a small business, including a practical introduction to the following concepts: (1) the organization and operation of the basic forms of business (i.e., corporation, partnership, and limited liability company (LLC), (2) the federal income tax considerations in the choice of business entity (i.e., C corporation, S corporation, partnership, or LLC), (3) the private placement exception to the registration requirement of the Federal securities laws, (4) negotiating Small Business Administration assistance for a minority-owned business, and (5) the drafting of an agreement for the acquisition of a small business. In looking at each of these topics, consideration will be given to any issue that is unique to minority businesses. This section will run for eight weeks, and students will make joint presentations on assigned topics with a practicing lawyer.

Part III, The Big Ideas for Addressing the Minority-White Gap in Business Ownership, will focus on (1) a critique of various existing private and public proposals, and (2) the development of new public and private proposals, for addressing the problem. This section will run for two weeks, and students will make presentations on an assigned topic.

This course satisfies the upper-level writing seminar requirement.

Samuel C. Thompson Jr.