This is still the most comprehensive business organizations casebook to focus on closely held business. Numerous problems throughout the casebook allow students to apply legal principles to new fact situations. The principal change in the new edition has to do with the LLC chapter, which now focuses on the most recent uniform LLC Act (as well as Delaware law). Everything else has been brought brought up to date. This includes material on the Model Business Corporation Act (which now speaks as of December 2010), Delaware law (which includes corporations, limited partnerships, and limited liability companies), and federal securities law.