Materials for the U.S. Business Law Academy courses can be found by selecting the course title below.
Please read Embry v. Hargadine very carefully, focusing on understanding the facts in detail.
Texts
- Beyond Winning: Negotiating to Create Value in Deals and Disputes, by Robert H. Mnookin, Scott R. Peppet, and Andrew S. Tulumello, 2000.
- Ask for More: 10 Questions to Negotiate Anything, by Alexandra Carter, 2020
Day 1: Welcome, Opening Exercises, Negotiation Theory
- Reading assignment: Beyond Winning, Chapters 1-3
Day 2: Negotiation Simulations
- Reading Assignment: Beyond Winning, Chapters 4-5, 10
Class 1 (Economic Theory; Shareholder Voting)
- A&K, pp. 111-116, 189-196, 200-203, 229-246
- Statutory Background: SEC Rule 14a-8; Delaware General Corporations Law (DGCL) §141
- Recent Developments: West Palm Beach Firefighters’ Pension Fund v. Moelis (2024) pp. 2-14; Tesla 2024 Stockholder Proxy Solicitation
Class 2 (Directors' Fiduciary Duties in Delaware Law)
- A&K, pp. 259-262, 269-275, 310-313, 316-322, 323-336
- Statutory Background: Delaware General Corporations Law (“DGCL”) §§ 102(b)(7), 141
- Recent Developments: Maffei v Palkon (2025), pp. 36-43; Macey & Romano, Disrupting Delaware’s Dominance (2025); cf Micheletti & Parker, Delaware’s Continued Dominance (2025)
Class 3 (The Law and Ecomonics of Executive Compensation)
- A&K, pp. 375-399
- Tornetta v. Musk (2024) pp. 2-8, 102-127, 158-192
Class 4 (Duties of Oversight: Risk Management and Compliance)
- A&K pp. 277-306
- Statutory Background: DGCL § 102(b)(7)
- Recent Developments: McRitchie v. Zuckerberg (2024), pp. 2-19; In re McDonald’s Corp. Stockholder Litigation (2023), pp. 2-5
Class 5 (Enforcement of Fiduciary Duties: Shareholder Litigation)
- A&K, pp. 411-418, 420-422, 431-442
- Statutory Background: Federal Rules of Civil Procedure, Rule 23.1
- Recent Developments: United Food and Commercial Workers Union Tri-State Pension Fund v. Zuckerberg, pp. 37-41
Class 6 (Economic Reasons for Mergers; Transactional Structure and Related Legal Rules)
- Slides for Class 6
- A&K pp. 197-526
- Statutory and Regulatory Background: DGCL § 251
Class 7 (Directors' Fiduciary Duties and the Sale of the Firm)
Class 8 (Defensive Tactics and the Poison Pill)
- A&K pp. 579-587, 590-592, 605-613, 662-668
- Recent Developments: Williams Companies Stockholder Litigation (2021)
Session 1: Acquisition of a Residence
Session 2: Mergers & Acquisitions
- Ronald J. Gilson, "Value Creation by Business Lawyers: Legal Skills and Asset Pricing"
- Gail Weinstein, Warren de Wied, Steward Kagan, "COVID-19 as a Material Adverse Effect (MAC) Under M&A and Financing Agreements"
- Prepare Discussion Questions #2
Session 3: Venture Capital
- Theodore Baums & Ronald J. Gilson, "The Legal Infrastructure of the German Venture Capital Market: Replicating the U.S. Template"
- Prepare Discussion Questions #3
Session 4: Venture Capital
- Ronald J. Gilson & David M. Schizer, "Understanding Venture Capital Structure: A Tax Explanation for Convertible Preferred Stock"
- Prepare Discussion Questions #4
Session 5: Nonprofits
- David M. Schizer, How to Save the World in Six (Not So Easy) Steps, chapters 1, 2 and 3 (book will be provided on first day of class)
- Prepare Discussion Questions #5
Session 6: Nonprofits
- David M. Schizer, How to Save the World in Six (Not So Easy) Steps, chapters 4, 6 and 8
- Prepare Discussion Questions #6
Session 7: Derivatives
- Robert M. McLaughlin, Over-the-Counter Derivatives Products, 66-71
- Ronald J. Gilson & Bernard S. Black, "The Option Perspective," 231-234, 238-244, 250-251
- Prepare Discussion Questions #7
Session 8: Motion Pictures
- Arthur De Vany, Hollywood Economics, "Part I, Box-office Champions," 7-10
- F. Andrew Hanssen, "Vertical Integration During the Hollywood Studio Era," 519-27, 531
- Brian Warner, "How One Brilliant Decision in 1973 Made George Lucas A Multi-Billionaire Today"
- Victor P. Goldberg, "The Net Profits Puzzle," 524-32, 538-50
- Prepare Discussion Questions #8