Business Law Basics

Online Self-Paced Course

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.

After completing this course, you will 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

Important Notes

  • 97% Rating
  • Estimated time to complete: 5 hours
  • 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.

Credits:

IACET CEUs: 0.5 (Contact Hours: 4 hours)

ATD CI Credits: 5

HRCI Credits: 5

SHRM PDCs: 5

Key Features

  1. Mobile-friendly
  2. Audio-enabled
  3. Badge and credit-awarding
  4. Real-world case studies
  5. Fully accessible
  6. Games & Flashcards
  7. Expert-supported
  8. Video content

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