Additional Activities

Learning Objectives:

Section 1 - Types of Business Entities

	Learn the characteristics of the three major forms of business organizations.
	Define sole proprietorship, partnership and corporation.
	Analyze your personal and business needs for raising capital, management, limiting liability and expansion.
	Learn the advantages of each type of entity and determine which is best for you.

Section 2 – Your Ethical and Social Responsibilities

	Learn about the role of ethical and social responsibility in business.
	Understand what business ethics and social responsibility mean.
	Distinguish between when something is legal vs. ethical or socially responsible.
	Explain how ethical behavior and social responsibility is good for business.
	Explain how ethical business behavior can be encouraged.

Section 3 – Business Laws That Can Affect You

	Learn about the different types of business law that affect business owners.
	Understand that different business activities are regulated by different laws.
	Give examples of types of business activities which need to be regulated and why.

Section 4 – Laws Governing Business – Where to Obtain

	Learn about the laws governing business and where to obtain information about the laws.
	Identify the different sources of the law governing business.
	Give some examples of agencies on the federal, state and local level that monitor compliance of the laws.

Section 5 – Government Regulations

	Learn about government regulations that business must meet.
	Understand how government regulation fosters business growth.

Section 6 – Tax Consequences

	Identify potential business tax liabilities and types of tax on the federal, state and local levels.
	Distinguish between taxes businesses have to pay and that it collects on behalf of government.
	Understand that different business entities have different tax treatment.

Section 7- Insurance

	Identify the types of insurance that can be used to protect businesses.
	Give some examples of what business can do to lower risk and therefore insurance costs.

Section 8 - EOE, Discrimination and Sexual Harassment

	Learn the legal basis for fair employment practices.
	Understand the scope of equal opportunity employment.
	Learn how to avoid sexual harassment at the workplace.

Section 9 - Contracts - Call Your Lawyer

	Understand the nature of a contract and its effect on the entrepreneur.
	Understand why it is important to have a contract prepared by or reviewed by an attorney.

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