The following is the A.B.A. Standard 301 Statement regarding learning outcomes for Business Law Certificate:
Knowledge and understanding of substantive law
- Understand the general legal boundaries that define the regulation of business, including the general parameters of business association law, tax law, and commercial law.
- Recognize the most common forms of business associations, including partnerships, limited liability companies, and corporations.
- Understand the rules governing formation, management and dissolution of the most common forms of business associations, as well as the implications of choosing one form of association over others.
- Understand basic principles of federal income taxation.
- Understand basic legal principles that govern at least one of the following advanced business association topics: securities offerings, mergers and acquisitions, or business taxation.
- Understand basic commercial law principles that govern at least one of the following areas: sale of goods, creation and enforcement of security interests in personal property, or real estate transactions.
- Understand at a beginning level at least one of the following specialized business topics: antitrust, consumer law, intellectual property law, international trade, or accounting.
Legal Analysis and reasoning
- Be able to identify relevant legal issues and to understand, interpret and apply statutes and case law in the area of business associations and income taxation at a developing level.
- Be able to identify relevant legal issues and to understand, interpret and apply statutes and case law in the area at least one of the following areas at a developing level: commercial law, bankruptcy law, or real estate law.
- Be familiar with often-recurring issues in business practice, and where to begin researching such issues.
- Be familiar with business organization codes and tax codes and interpretative regulations as starting points for legal research as to most business association or tax issues.
- Understand the role of case law in statutory and regulatory interpretation in the business law area.
- Be able to engage critical thinking to predict outcomes and recommend appropriate action on issues relating to business associations, income taxation, and commercial and/or real estate law.
Written and oral communication in the legal context
- Be able to locate sources for legal forms used in creating and managing business associations.
- Be able to strategically negotiate and/or draft simple contracts.
Exercise of proper professional and ethical responsibilities
- Understand ethical rules relating to entity representation and related conflict of interest issues.