Learn about the Fundamentals of Business Law | Alison

Fundamentals of Business Law

Learn about the fundamentals of business law and the different types of business ownership with this course.

Free Course
Business law encompasses all the laws that dictate how to form and run a business, including how to start, buy, manage, close or sell any type of business. New companies need to become completely familiar with these laws before even opening their doors for the first time. In a clear and simple manner, this course will teach you everything you need to know about business law where it relates to business ownership.





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Understanding the principles of business law is a must for every entrepreneur. This course will first discuss the fundamentals of business law. It will then cover and define the different types of business ownership such as sole proprietorships, general partnerships, limited partnerships, and incorporations. In a step by step manner, you will be guided through the legal requirements, legal recommendations, financial status, taxation, and liability related to the most common types of businesses.

You will then learn important business law principles for the simplest type of business ownership, a sole proprietorship, and look into a general partnership which is a business owned by two or more persons. You will also understand why both business types provide no protection against liability to the owner of the business. Finally, you will study the laws that encompass a corporation, in which the owners are the shareholders and are not liable for debts.

Most employees dream of setting up their own business someday but choosing what type of business ownership to go for is not as easy as it might sound. You must first be aware of all the options available, weigh the advantages and disadvantages, and from there choose which ownership is the most suited to your situation. For those who are planning to establish their own business, this course will be a great help. So why wait? Start learning something useful, today.

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Learning Outcomes

After studying this course you will: - Be familiar with important princi ples of business law; - Understand the principle of sole proprietorship; - Understand the principle of general partnerships; - Understand the principle of limited partnerships; - Understand the principle of incorporations;


All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certificates for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.


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