Business Law for Entrepreneurs

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