Founding of an Enterprise

Module 2

Business Entities

Prof. Dr. Carsten Jungmann

Taking an interdisciplinary approach, the course on Business Entities will familiarize the participants with the legal and practical concepts of the financial and organizational issues relating to incorporated entities and partnerships. Basic economic concepts and models will be highlighted.

Participants will be able to distinguish between the different business entities (especially partnerships, stock corporations and companies with limited liability) available for the start-up and running of a business from a finance and from an organizational perspective. In this regard, practical advantages, disadvantages and the risks for shareholders/members/partners as well as for creditors dealing with the company are discussed.

The concept of limited liability in incorporated entities will be analyzed and compared to liability rules in partnerships. As partnerships (and hybrid forms of partnerships and companies/corporations) play an important role in practice for mid-sized businesses, the course has a clear emphasis on these entities. With regard to stock corporations and companies with limited liability, special attention will be put on the central problems and current topics of corporate finance (payout policies, capital measures, treatment of member loans, etc.). In addition, the course will explore the limits of limited liability as a matter of the corporate structure and discuss the concept of “piercing the corporate veil”.

Emphasizing organizational aspects of the law of business entities, the course centers on issues such as the distribution of rights and responsibilities between shareholders and analyzes how incorporated entities of different sizes and business models require different forms of organization. Finally, the course addresses the field of corporate groups and the problems of cross-border activities of (incorporated) entities.

 

Entrepreneurship

Prof. Dr. Peter Witt

The course investigates the process of starting a new company from the perspective of an entrepreneur. It provides participants with a theoretical background on the context of entrepreneurship and typical entrepreneurial behavior. It gives practical advice on how to start a company and discusses the preparation of business plans. We especially focus on three steps of the entrepreneurial journey: opportunity recognition, resource acquisition, and implementation. In addition, the course also looks at the challenges in later stages of the entrepreneurial process, e.g., managing fast growth and realizing a profitable exit.

 

End of Module 2 Case Study

Prof. Dr. Carsten Jungmann, Jernej Bergoc

In a case study of a start-up company in the shared mobility industry, students will be asked to apply their knowledge gained in the courses of Module 2 in order to analyze the strengths and weaknesses of the start-up under review, as well as to give concrete recommendations on its future development.

Hamburg