Choice of Entity: Corporation vs. LLC vs. Partnership

This course provides a framework of four key considerations for selecting the right choice of entity.
Illumeo Learning
2 students enrolled
English [Auto-generated]
Discover a framework for determining which form of entity is suitable for your business.
Explore the four basic contract types and the advantages and disadvantages of each.
Understand real world uses of different entity types.

One of the first major decisions a startup or emerging business will need to make is regarding choice of entity. Selecting the right corporate framework–corporation, LLC or partnership–is critical to the success of any businesses. How can you determine the best fit for your emerging company?

This course provides general guidance for non-lawyers dealing with the issues which arise in deciding what type of entity form should be used for a budding business. The instructor will introduce a framework to help you analyze the different attributes of business entities, including four key considerations:

  • The lifecycle of the entity: Is this a single purpose entity, or will it grow over time?

  • Realities of death and taxes: How to close a business and manage the associated tax implications

  • Administration: What level of administration is required for your business?

  • Liability: Does your new business require you to carry personal liability insurance?


Introduction to Choice of Entity
What You Need
Sole Proprietorship
Partnership or LLC?

Supporting Materials

Slides: Choice of Entity
Choice of Entity Glossary/Index

Review and Test

Review Questions

Review Questions: Choice of Entity: Corporation vs. LLC vs. Partnership - A Critical Decision for Start-Ups and Emerging Companies


FINAL EXAM: Choice of Entity: Corporation vs. LLC vs. Partnership - A Critical Decision for Start-Ups and Emerging Companies

You can view and review the lecture materials indefinitely, like an on-demand channel.
Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don't have an internet connection, some instructors also let their students download course lectures. That's up to the instructor though, so make sure you get on their good side!

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1 hours on-demand video
2 articles
Full lifetime access
Access on mobile and TV
Certificate of Completion