Description
Course Description
When starting a new venture, understanding the relevant laws can make or break your success. This course covers the basics of business law for an entrepreneur. It reviews legal structures for a new venture, intellectual property, employment law, contracts, government regulation, and personal and real property.
Learning Outcomes
- Understand basic legal terminology and the larger legal environment
- Identify and distinguish among the three basic legal structures of business organization
- Explain the advantages and disadvantages of a sole proprietorship
- Understand the rules and liabilities involved in a partnership
- Discuss the advantages and disadvantages of a corporation, and the steps necessary to incorporate
- Distinguish between a general partnership and a limited partnership or a limited liability partnership
- Explain the differences between S corporations and limited liability companies
- Identify the three major types of franchises and discuss the pros and cons of franchising
- Explain the major legal protections for intellectual property rights
- Define and distinguish between patents and copyrights
- Discuss the importance of trademarks
- List the criteria that define a trade secret
- Identify the areas of employment law that are most relevant to entrepreneurs
- Define the four legal elements involved in forming a contract
- Discuss the Statute of Frauds and the types of contracts to which it applies
- Explain Article 2 of the Universal Commercial Code and how it applies to sales contracts
- Understand the basics of tax law as it applies to a business
- Identify the major areas of federal regulation that apply to businesses
- Understand basic legal principles applying to personal property
- Understand basic legal principles applying to real property
- Identify the legal means for transferring ownership of real property
- Identify the three types of bankruptcy defined under federal law
Key Features
Expert-supported- Mobile-friendly
- Accessible
- Badge and credit-awarding
- Games & Flashcards
- Video content
- Real-world case studies
- Audio-enabled in app
Notes
This course has an “Ask the Expert” feature, which submits your questions directly to an expert in the field you are studying. Questions are answered as quickly as possible and usually within 24 hours.
This course does not require any additional purchases of supplementary materials.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs. Learners will have three attempts at all graded assessments.