BUSINESS LAW
Instructional goals
The course is focused on the study of Business Law. It introduces the concepts of enterprise and entrepreneur. The regulation of business enterprises, intellectual property, competition, and non-corporate organizational forms of enterprise are also analyzed.
It then continues with an overview of Company Law, addressing partnerships and, in particular, Corporations (società per azioni or “s.p.a.”).
The course aims to highlight the role of Business Law in the development of enterprises and the economy, balancing legal rules and private autonomy. It provides a systematic framework of business organization and traditional corporate forms, offering an in-depth study of Corporations as a reference model of contemporary Company Law and as the conceptual basis – fundamental, though not exclusive – for the study of limited liability companies (s.r.l.), which are analyzed in Business Law 2.
Intended learning outcomes
Knowledge and understanding:
Students will acquire a clear understanding of the fundamental institutions of Business Law, with particular attention to companies in general, partnerships, and Corporations. Knowledge will be assessed through a final oral examination.
Applying knowledge and understanding:
Students will be able to identify and distinguish the structural and functional characteristics of the organizational models studied, interpreting the legal rules that govern each.
Critical thinking:
The course develops an analytical approach enabling students to identify relevant materials, critically evaluate scholarly and judicial perspectives, and classify and analyze concrete cases from a legal standpoint.
Communication skills:
Students will be able to accurately employ the technical vocabulary of Business Law in relation to the topics covered.
Ability to learn:
The knowledge gained will equip students with the ability to independently understand and interpret legislative developments, as well as scholarly and judicial trends related to Business Law.
Course Contents
The entrepreneur and the various categories of entrepreneurs. The business enterprise and its organization. Competition law and the protection of enterprises in the market. Non-corporate organizational forms of enterprise. Companies in general, including for-profit companies and benefit corporations. Partnerships. Corporations (s.p.a.) and the hybrid partnership-corporation model (the “società in accomandita per azioni)”. Financial structure and governance of Corporations. Amendments to the articles of association and extraordinary corporate transactions. Dissolution and liquidation. Regulation of listed companies and the reform of the Testo Unico della Finanza. Corporate groups.
Reference Books
G. Presti, M. Rescigno, Corso di diritto commerciale, Single Volume, Zanichelli, Bologna, 2025, 12ª ed., Volume I – Impresa, Contratti, Titoli di credito, Crisi e insolvenza and Volume II – Società, pp. 1-64, pp. 77-90, pp. 401-416, pp. 419-452, pp. 461-464, p. 466, pp. 469-568, pp. 571-621, pp. 624-626, pp. 694-696, p. 699, pp. 704-720, pp. 723-745, p. 747, pp. 749-764, pp. 771-783.
Alternatively, students may use the following textbooks instead of Presti-Rescigno:
G.F. Campobasso, Diritto commerciale 1. Diritto dell’impresa, UTET, Torino, 2022, 8ª ed. by M. Campobasso, pp. 1-38, pp. 43-60, pp. 73-81, pp. 83-127, pp. 133-186, pp. 209-269, pp. 283-289.
G.F. Campobasso, Diritto commerciale 2. Diritto delle società, UTET, Torino, 2024, 11ª ed. by M. Campobasso, pp. 2-134, pp. 135-167, pp. 173-193, pp. 195-249, pp. 251-272, pp. 285-351, pp. 353-395, pp. 397-420, pp. 423-441, pp. 451-467, pp. 470-476, pp. 479-491, pp. 497-541, pp. 543-562, pp. 649-691.
Teaching Methods
Lecture-based teaching
Assessment Method
Final oral examination.
Students are expected to demonstrate a thorough understanding of the principles, concepts, and institutions of Business Law 1, including individual and collective enterprises, partnerships, and Corporations, as well as the fundamental organizational rules governing the company types studied.
They must also be able to accurately interpret and apply theoretical knowledge to practical cases.
Students are required to employ technical legal terminology correctly, thereby demonstrating the acquisition of a systematic study method and the learning skills necessary for independent further exploration of the subject.
Grades are awarded on a 30-point scale.
Intermediate monitoring and assessment of students’ preparation may be conducted; however, the final grade will be assigned only at the conclusion of the course, in accordance with the criteria and procedures outlined above.
Thesis assignment criteria
Course attendance and successful completion of the final examination
Week 1
WEEK 1 – THE ENTREPRENEUR AND THE CATEGORIES OF ENTREPRENEURS. THE BUSINESS ENTERPRISE
The evolution of Business Law and the centrality of the entrepreneur.
Lesson I of Presti-Rescigno (vol. I)
Introduction of the Campobasso (vol. I)
The notion of entrepreneur (art. 2082 c.c.). Acquisition and loss of entrepreneurial status
Lesson II of Presti-Rescigno (vol. I)
Chapters I and III of Campobasso (vol. I)
The commercial entrepreneur (art. 2195 c.c.) and the agricultural entrepreneur (art. 2135 c.c.). The small entrepreneur
Lesson III, 1-4 of Presti-Rescigno (vol. I)
Chapter II of Campobasso (vol. I)
THE RULES FOR COMMERCIAL ENTREPRENEURS
Legal publicity: the companies register and the legal effects of registration
Lesson III, 5.1 of Presti-Rescigno (vol. I)
Chapter IV, A of Campobasso (vol. I)
Accounting records: obligated subjects, bookkeeping requirements, evidentiary value
Lesson III, 5.2 of Presti-Rescigno (vol. I)
Chapter IV, B of Campobasso (vol. I)
Commercial representation
Lesson III, 5.3 of Presti-Rescigno (vol. I)
Chapter IV, C of Campobasso (vol. I)
THE BUSINESS ASSETS
Business assets: concept and conveyance
Lesson IV, 1 of Presti-Rescigno (vol. I)
Chapter V of Campobasso (vol. I)
Week 2
WEEK 2 – THE PROTECTION OF THE ENTERPRISE IN THE MARKET
Intellectual property. Constitutional protection and fundamental principles
Lesson IV, 2, 2.1 of Presti-Rescigno (vol. I)
Chapter VII, 1-2 of Campobasso (vol. I)
Distinctive signs
Lesson IV, 2.2-2.3 of Presti-Rescigno (vol. I)
Chapter VI of Campobasso (vol. I)
The market and antitrust rules. EU and national competition law
Lesson V, 1 of Presti-Rescigno (vol. I)
Chapter VIII, A-B of Campobasso (vol. I)
Unfair competition
Lesson V, 2 of Presti-Rescigno (vol. I)
Chapter VIII, C of Campobasso (vol. I)
Week 3
WEEK 3 – NON-CORPORATE ENTITIES. COMPANIES. PARTNERSHIP LAW
Non-corporate entities: associations, foundations, and third-sector enterprises
Lesson XVIII, 4.1 of Presti-Rescigno (vol. II)
Chapter II, C, 13–14 of Campobasso (vol. I)
Consortia among entrepreneurs and the network contract
Lesson XVIII, 4.2 and 4.5 of Presti-Rescigno (vol. II)
Chapters IX and XII of Campobasso (vol. I)
Types of companies: partnerships and corporations; autonomy and liability
Lesson XVIII, 3 of Presti-Rescigno (vol. II)
Chapter I, B of Campobasso (vol. II)
For-profit companies and benefit corporations
Lesson XVIII, 2.1-2.5 of Presti-Rescigno (vol. II)
Chapter I, A of Campobasso (vol. II)
Partnerships. Simple partnership. General Partnership. Limited Partnership.
Lesson XIX of Presti-Rescigno (vol. II)
Chapter II, A of Campobasso (vol. II)
Formation of partnerships and invalidity. De facto, irregular, undisclosed, and apparent companies; corporate participation in partnerships
Lessons XIX, 1 and XVIII, 2.6 of Presti-Rescigno (vol. II)
Chapter II, A of Campobasso (vol. II)
Partnership assets and capital
Lesson XIX, 2 of Presti-Rescigno (vol. II)
Chapter II, B of Campobasso (vol. II)
Organizational structure, management, and oversight
Lesson XX, 1-4 of Presti-Rescigno (vol. II)
Chapter II, C of Campobasso (vol. II)
Dissolution of the partnership
Lesson XX, 5-6 of Presti-Rescigno (vol. II)
Chapter II, D-E of Campobasso (vol. II)
Limited partnership
Lesson XIX of Presti-Rescigno (vol. II)
Chapter III of Campobasso (vol. II)
Week 4
WEEK 4 – CORPORATIONS. THE INCORPORATION PROCESS
The role of Corporations in the economy and in Company Law. Essential features, shares, limited liability. The s.a.p.a.
Lessons XXI, 4.1 and XXIX, 4 of Presti-Rescigno (vol. II)
Chapters IV, 1-4 and XVII of Campobasso (vol. II)
Corporations and regulatory tiers
Lessons XXI, 3.2 and XXXIII, 1.1 of Presti-Rescigno (vol. II)
Chapter IV, 4 of Campobasso (vol. II)
Incorporation. Pre-registration transactions. Effects of registration
Lesson XXII, 1–3.1 of Presti–Rescigno (vol. II)
Chapter IV, A of Campobasso (vol. II)
Contributions and dangerous purchases
Lesson XXII, 5 of Presti-Rescigno (vol. II)
Chapter IV, C of Campobasso (vol. II)
Nullity of the Corporation
Lesson XXII, 4 of Presti-Rescigno (vol. II) Chapter IV, A, 13 of Campobasso (vol. II)
Week 5
WEEK 5 – CORPORATIONS: SHARE CAPITAL AND SHARES
Share capital and shares
Lesson XXIII, 1-2 of Presti-Rescigno (vol. II)
Chapter V, 1, A-B, 5-6 of Campobasso (vol. II)
Classes of shares. Treasury shares
Lessons XXIV, 1–2 and XXIII, 4 of Presti-Rescigno (vol. II)
Chapter V, B, 7–11 and D of Campobasso (vol. II)
Transfer of shares and dematerialization
Lesson XXIII, 3 of Presti-Rescigno (vol. II)
Chapter V, C of Campobasso (vol. II)
Week 6
WEEK 6 – CORPORATIONS: BONDS, FINANCIAL INSTRUMENTS, AND SEGREGATED ASSETS
Bonds: classifications and issuance (competence and limits)
Lesson XXIV, 3 of Presti–Rescigno (vol. II)
Chapter XV of Campobasso (vol. II)
Participatory financial instruments
Lesson XXIV, 4 of Presti–Rescigno (vol. II)
Chapter V, B, 12 and Ch. XV, 1 of Campobasso (vol. II)
Segregated assets
Lesson XXIV, 5 of Presti–Rescigno (vol. II)
Chapter IV, B, 15–17 of Campobasso (vol. II)
Week 7
WEEK 7 – CORPORATE ORGANISATION
Bylaws and shareholders’ agreements
Lesson XXII, 3.2 of Presti-Rescigno (vol. II)
Chapters IV, A, 7 and VIII, 9 of Campobasso (vol. II)
Systems of administration and control
Lessons XXV, 1 and XXVIII of Presti-Rescigno (vol. II)
Chapters IX, 1 and XI of Campobasso (vol. II)
The traditional system: corporate bodies and allocation of powers; governance arrangements (adequacy and proportionality)
Lesson XXV, 1 of Presti-Rescigno (vol. II)
Chapter IX, 1, 3 of Campobasso (vol. II)
Week 8
WEEK 8 – THE SHAREHOLDERS’ MEETING
Shareholder rights and competencies of the shareholders’ meeting
Lesson XXV, 2.1 of Presti-Rescigno (vol. II)
Chapter VIII, 1-2 of Campobasso (vol. II)
Annual and special shareholders’ meetings: substantive and procedural aspects
Lesson XXV, 2.2, 2.3, 2.4.4 of Presti-Rescigno (vol. II)
Chapter VIII, 3-7 of Campobasso (vol. II)
Invalidity of the resolutions adopted by the shareholders’ meeting and compensation for damages
Lesson XXV, 2.4.1-2.4.3 of Presti-Rescigno (vol. II)
Chapter VIII, 10-11 of Campobasso (vol. II)
Week 9
WEEK 9 –MANAGEMENT. DIRECTORS’ DUTIES, LIABILITY, AND INTERESTS
Management. The three systems of administration and control. Representation
Lesson XXVI, 1 and 5 of Presti-Rescigno (vol. II)
Chapter IX, 2 and 9 of Campobasso (vol. II)
Appointment, termination, and replacement of directors
Lesson XXVI, 2, 3, 7.4, 7.5 of Presti-Rescigno (vol. II)
Chapter IX, 4-5 and 13-14 of Campobasso (vol. II)
The board of directors and executive directors
Lesson XXVI, 4 of Presti-Rescigno (vol. II)
Chapter IX, 6 and 8 of Campobasso (vol. II)
Invalidity of board resolutions. Directors’ interests
Lesson XXVI, 4.1.2 (final part on invalidity) and 6 of Presti-Rescigno (vol. II)
Chapter IX, 6 (final part on invalidity) and 7 of Campobasso (vol. II)
Directors’ duties and liability. Remedies and actions
Lesson XXVI, 7 of Presti-Rescigno (vol. II);
Chapter IX, 10-12 of Campobasso (vol. II)
Week 10
WEEK 10 – FINANCIAL STATEMENTS AND CONTROLS. AMENDMENTS TO THE BYLAWS AND THE RIGHT OF WITHDRAWAL
The annual financial statements
Lesson XXXIV, 1-3 of Presti-Rescigno (vol. II)
Chapter XIII, 1-4, 6, 8-11 of Campobasso (vol. II)
Internal controls
Lesson XXVII, 1-3 of Presti-Rescigno (vol. II)
Chapter X, A-B of Campobasso (vol. II)
External controls
Lesson XXVII, 4 of Presti-Rescigno (vol. II)
Chapter XII, 1-3 of Campobasso (vol. II)
Bylaws amendments and the right of withdrawal
Lesson XXIX, 1-2 of Presti-Rescigno (vol. II)
Chapter XIV, 1-3 of Campobasso (vol. II)
Week 11
WEEK 11 –BYLAWS AMENDMENTS. EXTRAORDINARY TRANSACTIONS. DISSOLUTION / LIQUIDATION
Capital increases
Lesson XXIX, 3.1 of Presti-Rescigno (vol. II)
Chapter XIV, 4-7 of Campobasso (vol. II)
Capital reduction
Lesson XXIX, 3.2 of Presti-Rescigno (vol. II)
Chapter XIV, 8-9 of Campobasso (vol. II)
Conversions, mergers, and split-ups
Lesson XXXVI, 1-3 of Presti-Rescigno (vol. II)
Chapter XX, A-C of Campobasso (vol. II)
Dissolution
Lesson XXXIV, 4 of Presti-Rescigno (vol. II)
Chapter XVI of Campobasso (vol. II)
Week 12
WEEK 12 – LISTED COMPANIES. CORPORATE GROUPS
Listed companies. External controls and the role of Consob
Lesson XXXIII, 1 of Presti-Rescigno (vol. II)
Chapter XVI, 1 of Campobasso (vol. II)
Significant ownership in listed companies
Lesson XXXIII, 2.4 and 2.4.1 of Presti-Rescigno (vol. II)
Chapter XVI, 2 of Campobasso (vol. II)
Takeovers
Lesson XXXIII, 3 of Presti-Rescigno (vol. II)
Chapter XVI, 3 of Campobasso (vol. II)
The recent reform of the “Testo Unico della Finanza”: governance and shareholders’ meeting
Legislative materials and scholarly papers will be shared on the course platform. No readings from the textbooks will be assigned.
Control, affiliated companies, and unified direction and coordination
Lesson XXXV, 1, 3, 4.1 of Presti-Rescigno (vol. II)
Chapter VII, 1, 2, 5 of Campobasso (vol. II)
The organizational framework of corporate groups
Lesson XXXV, 4.2 and Less. XXI, 4.3 of Presti-Rescigno (vol. II)
Chapter VII, 3 of Campobasso (vol. II)
The liability regime of the parent company
Lesson XXXV, 4.3 of Presti-Rescigno (vol. II)
Chapter VII, 4 of Campobasso (vol. II)