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Updated in [July 19th, 2023]

What skills and knowledge will you acquire during this course?
Participants in the course "How to Start a Business - Business Entity Selection" will acquire skills and knowledge related to understanding different business entity types, their advantages and disadvantages, and the nuances and differences among them. They will learn about sole-proprietorships, partnerships, limited-liability companies (LLCs), corporations (c corps), and corporations with an "s" election (s corps). The course will also cover topics such as the concept of a separate and distinct entity, the security provided by a separate business entity, the risks associated with piercing the corporate veil, and the structures of different ownership and management frameworks. Participants will be provided with an extensive outline and a comparison table to understand the differences in ownership, liability, management/control, taxes, documents, and capital contributions associated with different business structures. Additionally, they will receive a thorough reference of the documents needed to form a corporation and an LLC. Overall, upon completion of the course, participants will be better equipped to select the appropriate business entity for their specific situation.

How does this course contribute to professional growth?
This course on business entity selection provides participants with a comprehensive understanding of different entity types and their advantages and disadvantages. It equips participants with the knowledge to make informed decisions about selecting the appropriate business structure for their situation, contributing to their professional growth.

Is this course suitable for preparing further education?
This course, How to Start a Business - Business Entity Selection, is suitable for preparing further education because it provides a comprehensive understanding of different business entity types and their implications. Participants will gain knowledge about sole-proprietorships, partnerships, limited-liability companies (LLCs), corporations (c corps), and corporations with an “s” election (s corps). They will also learn about the concept of a “separate and distinct” entity, the security provided by a separate business entity, and the risks associated with piercing the corporate veil. The course further covers the structures of different ownership and management frameworks. Additionally, participants will receive an extensive outline and a comparison table that highlights the differences in ownership, liability, management/control, taxes, documents, and capital contributions associated with various business structures. The course also provides a thorough reference of the documents required to form a corporation and an LLC. Overall, this course equips participants with the necessary knowledge to select the appropriate business entity for their specific situation.

Course Syllabus

Introduction

Getting Started

Exercises - Level 1

Sole Proprietorship

Partnerships

Exercises - Level 2

Understanding Corporations (Inc.)

Formation Of A Corporation (Inc.)

Exercises - Level 3

Limited Liability Company (LLC)

Formation of an LLC

Exercises - Level 4

Demonstrations

Farewell