Course Description


This course will provide students with an understanding of the forms of organization that business people use when establishing and operating for-profit businesses in the United States. Students will understand the factors in selecting a business structure and the process of formation, operation, and dissolution of business entities. Topics proceed from the simplest form of business structure, the sole proprietorship, through partnerships (general partnerships and limited partnerships), to the most complex: the business corporation. The newest forms of business organizations, the limited liability partnership and the limited liability company, are also discussed. Learning about the advantages and disadvantages of different forms of business entities will provide students with the foundation to understand the business concepts that surround us every day and the knowledge necessary to achieve success in business.

The course begins with a brief introduction to the American Legal System so students understand our dual system of federal and state law, the hierarchy of court systems in both federal and state governments, and the significance of precedent, so that students will understand our legal system and its effect on business activities.

Course Objectives

Upon completion of this course, successful students will be able to:

  • Identify the sources of law

  • Understand the courts and legal process

  • Examine business and legal structures

  • Understand how businesses are formed and operate

  • Recognize the liability that may be incurred in each form of business structure in the United States

  • Describe the legal and ethical responsibilities of people in a business organization

  • Locate legal resources

  • Discover how to use the Internet effectively to locate business-related resources and information

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