University of Sydney Handbooks - 2019 Archive

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Business Law

Table of postgraduate units of study: Commerce

The information below details the unit of study descriptions for the units listed in the Table of postgraduate units of study: Commerce.

Timetabling information for the current year is available on the ( Business School website). Students should note that units of study are run subject to demand.

Business Law

Achievement of a specialisation in Business Law requires 30 credit points from this table comprising:
(i) 6 credit points in foundational units of study
(ii) 6 credit points in compulsory units of study
(iii) 18 credit points in elective units of study

Units of study for the specialisation

Foundational unit of study

CLAW5001 Legal Environment of Business

Credit points: 6 Session: Semester 1,Semester 2 Classes: Three hours of classes per week which may include one or more of the following: lectures; seminars; tutorials or workshops. Assessment: case analysis (20%), mid-semester exam (35%), final examination (45%) Mode of delivery: Normal (lecture/lab/tutorial) day
All business conduct is regulated by the law. Every transaction and every relationship is governed by an increasingly complex mix of statutory and judge-made laws. The ability to identify and manage legal risks, and knowledge of compliance and dispute resolution strategies, are essential business management skills. This unit examines the legal framework and regulatory regime within which all businesses operate in Australia and in a global economy. It introduces students to the legal implications of commercial conduct and provides an overview of the Australian legal system and threshold legal concepts of agreement, ownership, and civil and criminal liability. Key areas of substantive business law are examined including contracts, torts (in particular negligence and the economic torts), property and securities, and crime. The unit also provides students with an overview of areas of legal regulation with an increasingly significant impact on business operations including: privacy, intellectual property rights, competition law, consumer law (in particular advertising regulation, product liability and unfair contracts), misleading conduct and unconscionable conduct.
Business and the Law 6th edition, Andrew Terry.

Compulsory units of study

CLAW6002 Corporate Structures in Practice

Credit points: 6 Session: Semester 1,Semester 2 Classes: One three hour class per week which may include one or more of the following: lectures; seminars; tutorials or workshops. Prerequisites: CLAW5001 Assessment: Executive report (30%), mid-semester exam (20%), final exam (50%) Mode of delivery: Normal (lecture/lab/tutorial) day
The corporation is the dominant structure adopted for business undertakings globally. This unit aims to demystify corporate regulation and its impact in the contemporary commercial context with a view to introducing students to the types of issues they will encounter in the real world of corporations. The unit reviews business structures (joint ventures, partnerships, trusts and companies) from a business perspective with a focus on the corporate form. The unit also examines the different options available for the conduct of businesses and the different stages of the corporate life cycle, including: how corporations are brought into existence and the characteristics attained upon incorporation; how corporations undertake certain activities (including entry into contracts, fundraising, issuing shares, paying dividends); how corporations are managed and power is distributed between participants, how the law places certain duties and obligations upon those who manage corporations; the consequences which may result from any breach of those duties and obligations; and managing corporations in financial distress, liquidation and de-registration. It takes an application-based approach which gives the unit a practical as opposed to theoretical orientation. Current issues in corporate regulation in Australia and internationally are discussed to provide students with an understanding of the types of issues which confront different types of corporations, and how these issues impact upon their management and the discharge of corporate responsibility.

Elective units of study

CLAW6007 Issues in Law and International Business

Credit points: 6 Session: Semester 2 Classes: One 3 hour class per week which may include one or more of the following: lectures; seminars; tutorials or workshops. Prerequisites: CLAW5001 Assessment: mid-semester exam (40%), case study presentation (20%), final exam (40%) Mode of delivery: Normal (lecture/lab/tutorial) evening
Globalisation enables successful businesses to tap into the international economy to find new and bigger markets for their goods and services. Entering the global marketplace also means greater risk, as businesses deal with new customers, and are forced to operate in unfamiliar legal environments where the "normal" rules of business often don't apply. This unit aims to provide students with an understanding of how the global economy is regulated (if at all), and to provide the tools needed to use international business law to minimise the risks of doing business in the global economy. Questions addressed include: What is international business law and what do I need to know?; What institutions ensure a level playing field for my business?; How do I make an agreement to sell my goods to foreign customers?; How do I protect those goods in transit?; How do I ensure payment for goods and services I provide?; How do I build a presence in a foreign market through local agents and distributors?; What considerations apply to entering and borrowing from foreign capital markets?; How can I safely do business online in the global virtual economy?; What if things go wrong?; and How do I fight foreign disputes by my rules and in my court?
CLAW6026 Taxation Law and Practice

Credit points: 6 Session: Semester 1,Semester 2 Classes: One 3 hour class per week which may include one or more of the following: lectures; seminars; tutorials or workshops. Prerequisites: CLAW5001 Prohibitions: CLAW5002 Assessment: mid semester exam (20%), major assignment (30%), final exam (50%) Mode of delivery: Normal (lecture/lab/tutorial) day
Taxation is an inevitable reality for all individuals and businesses. The impact of taxation on business structures, transactions and decisions is both real and significant. An understanding of how taxation law works is not only vitally important for professional accountants but is also an essential management skill in an increasingly complex business environment. This unit introduces students to the principal forms of taxation within the Australian taxation system with a focus on concepts and principles of income tax law. Students also learn how tax law is applied in practice. This unit covers key concepts of taxation in Australia (including the concepts of income, capital gains tax, deductions, and the residence and source principles) and examines the taxation of different entities (including partnerships, trusts and companies). The taxation of international business transactions is also considered.
CLAW6030 China's Legal Environment for Business

Credit points: 6 Session: Semester 1 Classes: 1x 3hr seminar per week Assessment: mid-term exam (25%), presentation of proposed research area (10%), proposal of research paper (5%), research paper (50%), class participation (10%) Mode of delivery: Normal (lecture/lab/tutorial) day
China has recently become the second biggest economy in the world and is Australia's most important trading partner. Australian businesses are increasingly engaging with China. This unit addresses the frequently asked question of how to do business with China. It addresses China's unique business environment which has resulted from its unique culture, history and demography, and examines the business regulations, tax system, and the administrative and compliance issues businesses will face when carrying on business with China. The unit first outlines the business environment in terms of culture, history, economics, demography, and government administration. It then provides students with an understanding of the legal environment that businesses will face in China. Through a hypothetical case study, different aspects of business regulation such as contract, entity structure, mergers and acquisition, property and intellectual property rights, the tax system, different tax types and associated international issues, and social insurance are analysed.
CLAW6031 International Financial Crime

Credit points: 6 Session: Semester 1 Classes: 1x 3hr seminar per week Assessment: test (20%), group assignment (30%), final exam (50%) Mode of delivery: Normal (lecture/lab/tutorial) day
International financial crime occupies a leading place on the international governance agenda. It has a devastating impact on national economies, international security and human development. This unit examines key international financial crimes such as investment fraud, corruption, tax evasion, money laundering and terrorist financing. Students gain an understanding of how these crimes are committed, detected and prosecuted. They analyse the changing regulatory environment and the new risks facing businesses and the professions. The role of bank secrecy and tax havens in facilitating financial crime is also studied. There is a special focus on the prevention of financial crime, and the regime for tracing, freezing and recovery of illicit assets. The unit draws on case studies from Australia, United States, Europe and Asia so as to gain a better appreciation of the national and international responses to international financial crime.
CLAW6032 Regulating Innovation and Distribution

Credit points: 6 Session: Semester 2 Classes: 1x 3hr seminar per week Assessment: class participation and engagement (20%); individual assignment (30%); group assignment: presentation (20%); group assignment: research paper (30%) Mode of delivery: Normal (lecture/lab/tutorial) day
Business today operates in an increasingly complex and constantly changing environment in which success depends on the ability to innovate and compete. This unit examines three key legal frameworks - intellectual property, fair trading and competition law - within which innovation and contestability in markets takes place. Intellectual property regulation seeks to promote invention and creativity and to discourage imitation and free riding. Fair trading regulation provides standards of conduct for B2B and B2C transactions. Competition law promotes fair markets by prohibiting practices which damage competition. The unit focuses on franchising as a business model, to provide the context to examine how these regulatory frameworks operate and interact in a commercial environment.
CLAW6033 International Business Tax Strategy

Credit points: 6 Session: Semester 1 Classes: 1x 3hr seminar per week Assessment: individual assignment (30%); mid-semester test (20%); final exam (50%) Mode of delivery: Normal (lecture/lab/tutorial) day
Taxation strategy of an international business has significant impact on not only the overall financial performance of the enterprise, but also the quantum of tax revenue that governments can collect. The increasing globalisation and integration of operations of multinational enterprises, together with the ingenuity of the army of tax advisors, provides ample opportunities for international tax planning. This unit introduces students to international tax principles and practices. Students will learn how the international tax rules are implemented in practice, and tax strategies that international businesses can adopt to minimise their global tax liabilities. Case studies on major multinational enterprises, such as Apple and Google, will be used to analyse and evaluate the international tax rules and business tax strategies. This unit will cover the fundamental residence and source principles, the taxation of inbound and outbound investments, the taxation of international finance, and common international tax strategies of multinational enterprises, including tax arbitrage between tax rules of entity classifications, the tax treatment of debt and equity, and transfer pricing.
CLAW6034 Commercial Property Law

Credit points: 6 Session: Semester 2 Classes: 1 x 3 hour workshop per week Assessment: mid-semester exam (20%), group assignment (30%), final exam (50%) Mode of delivery: Normal (lecture/lab/tutorial) day
This unit provides an introduction to commercial property law, including a general understanding of the fundamentals of commercial law. Students learn about the registration systems of real property and personal property. The unit assists students in understanding how businesses and investors acquire and dispose of interests in property, including various methods of holding property interests, such as through corporations, trusts, and listed vehicles. There is a critical analysis of the legal aspects of securitisation of property interests, including legal risks in facilitating securitisation. The concept of due diligence and disclosure obligations, as well as the public policy limits on domestic and foreign investment in property is examined. Students gain an understanding of how property disputes are resolved and the international dimensions of property law.