When starting a new venture, understanding the relevant laws can make or break your success. This training 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.
Completion Time
5 hours
Access Time
90 Days
Outcome
Individual Skill Course
Language
English
Training Level
Beginner
Delivery Information:
Online
Asynchronous
Self-paced
Description
Learning Outcomes
After completing this course, the learner should be able to:
- 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
Additional Information
This course includes an “Ask the Expert” feature. You can use this feature to submit questions about course content. A subject matter expert will provide guidance or point you to additional resources for the topics you’re studying. Questions are answered as quickly as possible and usually within 24 hours.
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs.
Requirements
Technology Requirements
Hardware Requirements: This course can be taken on either a PC, Mac, or Chromebook.
Software Requirements: Software must be installed and fully operational before the course begins.
- PC: Windows 8 or later.
- Mac: macOS 10.6 or later.
- Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible. Cookies and JavaScript must be enabled
- The latest Adobe Reader/Acrobat Reader ( free download available at https://get.adobe.com/reader/ )
- Any modern Office suite: Microsoft Office, Apple iWork, OpenOffice, or LibreOffice
- Reliable internet connection. Broadband cable or highspeed DSL is recommended for optimal experience.
- E-mail account (to be able to register and to receive e-mail from the course system regarding registration, course status, etc.)
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