Business Entity Formation

Gain key skills needed to navigate business entity formation in a corporate environment.

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3 Months / 24 Course Hrs
Open Enrollment
Offered in partnership with your preferred school

El Paso Community College

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Learning method

Business Entity Formation

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Course code: T14165

This course will teach you how to form, maintain and dissolve various business entities. You will have the chance to prepare various documents related to entity formation and maintenance. You will also learn many of the subtle differences between the various types of entities, which is ideal for paralegals working in the corporate law field.

What you will learn

  • Various types of business entities
  • Benefits and requirements to form various types of business entities
  • Tax issues related various types of business entities

How you will benefit

  • You will build an understanding on how various entities are formed
  • Gain applicable knowledge needed to start a business entity

How the course is taught

  • Self-Guided, online course
  • 3 Months access
  • 24 course hours
  1. Choice of entity
    1. Sole proprietorship
    2. Partnership
    3. Corporation
    4. Limited Liability Company
  2. Sole proprietorship is an entity that is owned by one person
    1. Requires no formal filing with the State
    2. Administrative requirements when starting a sole proprietorship
    3. Advantages and disadvantages to operating as a sole proprietorship
  3. A partnership requires two or individuals operating the partnership
    1. General partnership
    2. Limited partnership
    3. Important to have a partnership agreement
    4. Tax issues associated with partnerships
  4. A corporation comes into existence through the filing of Articles of Incorporation
    1. Prepare and file Articles of Incorporation
    2. Prepare Bylaws
    3. Prepare organizational minutes for the first meeting
  5. Limited Liability Company is a type of entity that is a cross between a corporation and a partnership
Self-Study

Prerequisites:

There are no prerequisites to take this course.

Requirements:

Hardware Requirements:

  • This course can be taken on either a PC or Mac.

Software Requirements:

  • PC: Windows 8 or later.
  • Mac: macOS 10.6 or later.
  • Browser: The latest version of Google Chrome or Mozilla Firefox are preferred. Microsoft Edge and Safari are also compatible.
  • Adobe Acrobat Reader.
  • Software must be installed and fully operational before the course begins.

Other:

  • Email capabilities and access to a personal email account.

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment and will be available online.

Your course begins immediately after you enroll.​

You have 3 months of access to the course. After enrolling, you can learn and complete the course at your own pace, within the allotted access period. You will have the opportunity to interact with other students in the online discussion area.

There is no time limit to complete each lesson, other than completing all lessons within the allotted access period. Discussion areas for each lesson are open for the entire duration of the course.

Because this course is self-guided, no extensions will be granted after the start of your enrollment.