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PROGRAMS

Corporate Structure

It is important to be able differentiate the types of business structure and make appropriate credit decisions based on the risk and owners' liability of the business.

This Forms of Business Structure course introduces the three most common business structures: sole proprietorships, partnerships, and corporations. It also covers two other types of business forms, limited liability companies (LLC) and franchises.

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By the end of this course, you should have a thorough understanding of the similarities and differences between forms of business structures, as well as the benefits and risks associated with each form.

Forms of Business Structure Learning Objectives

Upon completing this course, you will be able to:

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  • Distinguish between the three most common types of business structure

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  • Learn the definition, advantages and disadvantages of each business structure

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  • Understand the liability, rights, and restrictions of different structures

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  • Understand two other types of business forms, limited liability companies and franchises

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  • Explain how the legal structure of a company affects the lending process and lending decisions

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