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Intro to Business • Ownership
Rating: 4.7 out of 5(19 ratings)
1,093 students

Intro to Business • Ownership

One Owner • Partners • Incorporate • What's the Difference?
Created byRon Trucks, MBA, Explainer-In-Chief
Last updated 9/2023
English

What you'll 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

Course content

5 sections • 19 lectures • 2h 14m total length

  • About This Course - Chapter 25:24

    A quick overview of what this course will cover and how this chapter fits into the entire series, Introduction to Business - Volume 1.

  • Tips for the Experience1:40

    A few small tweaks and pieces of information can truly make the learning experience easier and more comfortable.  We'll take a look at some of those tips in this lesson.

Requirements

  • No tools, equipment, or pre-requisites needed (and there's almost NO MATH!!)

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.

Who this course is for:

  • Business owners, employees, students • And anyone wanting to better understand how business ownership works

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