Welcome to LawShelf’s video-course on business organizations. In this course, we’ll introduce you to the wide array of business forms, discuss how to create specific business entities, and explain the benefits and pitfalls of each type of business organization. This is an introductory level course and no prior experience or knowledge of business law is necessary.
A business organization is an entity formed to advance a commercial enterprise. It can be formed by one person or multiple people. We interact with businesses daily and they drive our nation’s economy.
This course begins by discussing the types of business entities and the state and federal laws that impact business formation. We will spend much of our time describing the factors an entrepreneur should consider prior to forming a business, such as liability, ownership, costs, taxation and transferability of ownership interests.
We will then move to specific entities, starting with partnerships. We will discuss the benefits of partnership formation and consider the categories of partnerships before explaining partners’ rights and duties to one another and to the partnership.
In the next part of the course, we will focus on corporations. We’ll start with closely held corporations, including the “S corporation,” which is a pass-through entity for tax purposes. We’ll consider the process of incorporation and we will use examples to illustrate the advantages and disadvantages of the corporate form.
In the latter half of our course, we’ll explore larger business organizations. We’ll discuss publicly traded companies, including the process of going public. We’ll also focus on how large corporations are managed and the roles of shareholders, directors and officers of a corporation. We will conclude by looking at limited liability companies, focusing on their benefits over other business forms and their operations.
Best of luck and we welcome your feedback.
What is a video-course?
A LawShelf video-course is an in-depth series of presentations on a discreet legal topic. LawShelf video-courses focus on practical legal information and applications and are each designed to familiarize the viewer with a legal topic quickly and efficiently.
Who should take a video-course?
Our video courses are designed for professionals such as attorneys, paralegals, corporate officers and financial professionals, as well as laypeople looking to deepen their knowledge of particular areas of law. The courses allow you to acquire the specific knowledge and skills that you need without the expense and time commitment of going “back to school” for a degree.
How do I learn?
Video courses are divided into 5 or 6 modules. Each module contains a video lesson (usually about 15 minutes long) and a series of self-test questions that you can use to practice and make sure that you understand the material.
How do I complete a video-course?
To complete a video-course, you must pass a 10-question multiple-choice examination by scoring 70% or higher. The questions on the exam are randomly selected from the self-test question sets for the various modules. You can retake an exam as many times as you need to, though you will not get the same questions each time since the questions are drawn from an exam bank.
How long will it take me to complete a video-course?
Between watching the modules, doing the self-test practice questions, reviewing the material and taking the final exam, we estimate that completing a video-course requires a time investment of 4-5 hours. The courses are designed to get straight to the point. We’re cognizant that your time is valuable, and we condense the information you need to know to comprehensively cover a subject into as little time as practical.
Is there limit to how many video-courses I can take or complete?
No. A LawShelf subscription enables you to access any and all LawShelf content, including all video-courses. You can take courses as quickly or slowly as your time allows.
Do I receive any recognition for completing a video-course?
Once you complete the course by passing the final exam, you will be awarded a digital badge to display as evidence of your training and accomplishment.
How will a digital badge help me?
Modern educational trends are moving away from traditional classroom-based course completion models and towards skills-based education. Employers today care more about skills than ever before. LawShelf digital badges conform to the Open Badge standard and are verifiable records of your skills that can easily be shared online.
How long do I retain access to the course materials?