Small business owners and entrepreneurs must have a working knowledge of many different fields, including the law. This training course covers the basics of business law as it pertains to small businesses, franchises, and entrepreneurial endeavors. The topics include legal structures for new ventures, contracts, intellectual property rights, real property, employee rights, tax responsibilities, and product warranties and liabilities. While small business owners should be familiar with these issues, there is no substitute for having qualified legal counsel. Therefore, the course also explores the relationship between a small business and its legal representatives, how to find a small business lawyer, and at what stage legal counsel should be sought.
Completion Time
5 hours
Access Time
90 Days
Outcome
Individual Skill Course
Language
English
Training Level
Beginner
Delivery Information:
Description
Learning Outcomes
- Understand basic legal terminology and the larger legal environment
- Explain the advantages and disadvantages of the three basic legal structures of business organization (sole proprietorships, partnerships, and corporations)
- Identify the three major types of franchises and discuss the advantages and disadvantages of franchising
- Explain different types of taxation and an employer's tax duties
- Define the legal elements involved in forming a contract
- Understand the basics of warranties and product liability
- Identify the major areas of federal regulation that apply to businesses
- Understand basic legal principles applying to real and personal property
- Describe the three types of bankruptcy defined under federal law
- Explain the major legal protections for intellectual property rights
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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