Upon successful completion of the course, students will be able to: describe various documents that must be filed with government agencies in order to create various types of businesses; explain characteristics of various business formations, specifically as they relate to tax and liability issues; outline the formation of a corporation including the certificate of incorporation and corporate bylaws; determine which form of business is most appropriate in a particular situation; list various remedies available to shareholders in claims of mismanagement against key personnel of the corporation; outline the basics of mergers, acquisitions, and hostile takeovers; outline procedures through which mergers and hostile takeovers are accomplished and apply some of the laws surrounding those events to hypothetical situations; define functioning of major stock exchanges such as the New York Stock Exchange and NASDAQ; explain various types of bankruptcy protection available under federal law; identify the most appropriate type of bankruptcy protection to seek, given an individual's financial situation; compare and contrast various types of bankruptcy filings, including liquidation bankruptcy under Chapter 7 of the Bankruptcy Code and reorganization under Chapters 11 and 13; outline the bankruptcy process including various timetables involved; and define and apply the rule of creditors and determine which debts will most likely have priority over others.