One Owner • Partners • Incorporate • What’s the Difference?
What you will learn
Realize the differences between each of four different business structures – Sole Proprietorship, Partnership, Corporations, and LLCs
Understand the advantages and disadvantages of each structure including legally, financially, and operationally
Be able to differentiate between C-, S-, Professional, and Non-Profit Corporations
Learn the points to consider when changing from one business structure to another
Grasp what is meant by: Joint Ventures, Acquisitions, Cooperatives, Franchises, Leveraged Buyouts, and more
Description
In this course, we use everyday, easy-to-understand language to explain the fundamentals about the different ways ownership of a business can be set up including Sole Proprietorships, Partnerships, Corporations, LLCs and more.
While this course uses United States information as examples, the information and principles included apply to almost every country in the world.
Successful students will grasp the advantages, disadvantages, requirements, and some of the biggest concerns involved with deciding which business structure fits which operation.
Throughout the entire course, quizzes and actual working “homework assignments” are used to reinforce the lessons as well as help the student understand what they are grasping or needing to restudy.
Some of the many areas covered in the course include:
- What are the legal and operational differences between single-owner and partnership operations and what’s involved with getting them setup, as well as continuing to run smoothly
- Next, the course delves exactly what corporations are, who runs them, who owns them, and the differences between C-Corps, S-Corps, and several other types.
- Limited Liability Companies offer many advantages of each of the different types without some of the drawbacks, but are they correct for specific situations and businesses.
- MANY other lessons are included such as:
- What are Cooperatives, Joint Ventures, Acquisitions, and more
- What does the phrase “Leveraged Buy Out” really mean and is it a good thing or bad thing?
- How can companies work together either for short-term or long-term projects and activities
- And a lot of other pieces of information scattered in between
NOTE: This is one mini-course included in the Introduction to Business: Volume 1 series. It is a completely stand-alone course with no prerequisites to understand the content. However, all the separate courses combined provide a comprehensive understanding of introductory business concepts equivalent to a 16-week, 3-credit hour, college course.
Content