Small business owners and entrepreneurs must have a working knowledge of many different fields, including the law. This 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.
After completing this course, you'll be able to:
- 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
Upon completion of the course, learners may be eligible for:
- IACET CEUs: 0.5 (Contact Hours: 5 hours)
- HRCI Credits: 5 (Type: Specified - Strategic Business)
- SHRM PDCs: 5
Learners must achieve an average test score of at least 70% to meet the minimum successful completion requirement and qualify to receive IACET CEUs.
This course is offered through our curriculum partner, MindEdge, Inc. MindEdge was founded in 1998 by Harvard and MIT educators with a mission to improve the way the world learns. Since then, more than three million learners have participated in MindEdge programs.
Registered students will receive individualized communication with further instructions to help you prepare for class.