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Legal Contracts and Agreements for Entrepreneurs

This course focuses on how legal contracts may impact or impede the success of aspiring and active entrepreneurs. We explore a wide variety of legal considerations, including:

* What types of legal contracts and agreements are appropriate for which entrepreneurial activities and actions?

* What is the role of torts, liability, and negligence in creating and managing products and services?

* How should contracts and sales agreements be created, evaluated, and negotiated?

* What legal considerations are applicable when raising financial capital?

"Legal Contracts and Agreements for Entrepreneurs" is one of three courses in the "Legal Aspects of Entrepreneurship Specialization" by Coursera and the University of Maryland. This specialization explores the critical legal and business issues entrepreneurs face as they build and launch a new venture. Learners examine real-world scenarios and address legal and business issues from ideation to all of the important junctures along the path to success. Significant attention is placed on new venture formation, intellectual property management, and contracts and financing arrangements.

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What's inside

Syllabus

Introduction to Legal Contracts and Agreements for Entrepreneurs

Get acquainted with the learning experience and course format, meet the faculty, and connect with classmates from across the globe.

Torts

Contracts

Sales Agreements and Warranties

Raising Capital

Managing Risk

Next Steps

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Designed for entrepreneurs who need to understand the role of legal contracts in business success

Explores various types of legal contracts, agreements, and their applications in entrepreneurial activities

In-depth examination of torts, liability, and negligence in product and service management

Focuses on drafting, evaluating, and negotiating effective contracts and sales agreements

Provides insights into legal considerations during financial capital raising

Taught by experienced legal scholars, Dr. James V. Green and Wilson L. White

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Legal Contracts and Agreements for Entrepreneurs with these activities:

Study Torts Law

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Professional responsibility requires business people to have at least a basic understanding of torts and the effect they can have on an entrepreneur and a new business. This topic is covered in the course.

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Review your notes from prior relevant coursework or readings
Review online resources including reputable legal information websites and prior case studies
Take a practice quiz to test your understanding

Review Tort Law and Liability Concepts

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Reviewing tort law and liability principles can provide a foundation for understanding legal obligations and risk management.

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Refer to your course notes, textbooks, or online resources to refresh your knowledge on tort law
Review case studies and legal examples to understand how tort law is applied in practice
Consider the potential implications of tort law for entrepreneurs and business owners

Read 'Business Law and the Legal Environment'

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Reviewing the foundational concepts in business law can provide essential context for understanding legal contracts and agreements.

View Business Law and the Regulation of Business on Amazon

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Six other activities

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Show all nine activities

Complete the Coursera 'Introduction to Business Law' Tutorial

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This tutorial can provide a concise overview of fundamental legal principles and help you grasp the basics of business law.

Browse courses on Business Law

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Sign up for the Coursera 'Introduction to Business Law' tutorial
Watch the video lectures and complete the interactive exercises
Take the quizzes to test your understanding

Form a Study Group with Classmates

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Engaging with peers can foster a deeper understanding of legal concepts and provide support.

Browse courses on Business Law

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Identify classmates who are interested in forming a study group
Establish regular meeting times and a study schedule
Discuss course materials, review legal cases, and work on practice problems together

Analyze Sample Legal Contracts

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Examining real-world legal contracts can provide practical insights into the structure and key clauses.

Browse courses on Contracts

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Obtain sample legal contracts from online sources or through legal professionals
Read and analyze the contracts, paying attention to their structure, clauses, and legal implications
Identify key provisions and discuss their significance

Attend a Legal Clinic or Workshop for Entrepreneurs

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Attending workshops or clinics can provide valuable insights and networking opportunities with legal professionals.

Browse courses on Business Law

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Research and identify relevant legal clinics or workshops in your area
Register for the event and attend the sessions
Actively participate in discussions and ask questions

Draft a Legal Contract for a Hypothetical Business

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Drafting a hypothetical contract allows you to apply your understanding of legal principles and clauses in a practical way.

Browse courses on Contracts

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Identify the parties involved and their respective roles
Determine the purpose and scope of the contract
Research and incorporate relevant legal clauses
Write the contract in clear and concise language
Review and refine the contract to ensure its accuracy and effectiveness

Participate in a Business Plan Competition

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Applying legal knowledge in a simulated business environment can enhance understanding and practical skills.

Browse courses on Entrepreneurship

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Identify and research business plan competitions relevant to your interests
Develop a comprehensive business plan, incorporating legal considerations into your strategy
Present your business plan to a panel of judges and receive feedback

Career center

Learners who complete Legal Contracts and Agreements for Entrepreneurs will develop knowledge and skills that may be useful to these careers:

Lawyer

Lawyers help businesses of all sizes to negotiate, draft, and enforce contracts and agreements. This course provides an overview of the key provisions and complex issues concerning contracts and agreements, which will provide a helpful basis for navigating these agreements. By understanding the fundamentals of what makes up these agreements, a lawyer is empowered to better protect their clients' interests and help them make informed decisions throughout the contractual process.

See salaries and explore the career path for Lawyer

Entrepreneur

Entrepreneurs that are launching a new venture can benefit greatly from this course. Entrepreneurs need to understand the legal landscape in order to avoid obstacles and achieve success. This course helps the entrepreneur to understand the myriad of legal issues that may arise during the lifecycle of a business. By providing a foundational understanding of contract and agreement law, entrepreneurs can avoid financial and legal hardships.

See salaries and explore the career path for Entrepreneur

Compliance Analyst

Compliance Analysts review and analyze contracts and agreements to ensure that they comply with all applicable laws and regulations. This course provides Compliance Analysts with a comprehensive overview of contract law, as well as other legal concerns like torts, negligence, and liability.

See salaries and explore the career path for Compliance Analyst

Risk Manager

Risk Managers identify, assess, and manage risks for an organization. In doing so, the Risk Manager must understand the legal considerations associated with contracts and agreements. This course provides an overview of the legal concerns related to contracts, agreements, torts, liability, negligence, and other topics crucial to risk assessment and management.

See salaries and explore the career path for Risk Manager

Sales Manager

Sales Managers must have a good understanding of commercial contracts and agreements, as well as torts and liabilities arising from the sale of goods. This course provides Sales Managers with a strong basis for understanding these legal constraints so that they can better serve their clients.

See salaries and explore the career path for Sales Manager

Procurement Manager

Procurement Managers are responsible for managing the purchasing process for their organization, which includes negotiating and drafting contracts with suppliers. This course will provide Procurement Managers with a strong foundation in understanding the legal aspects of contracts and agreements, and how they can be used to protect the organization's interests.

See salaries and explore the career path for Procurement Manager

Business Development Manager

Business Development Managers are responsible for developing and executing business strategies, which includes working with clients to draft and negotiate contracts and agreements. This course helps Business Development Managers understand the full scope of what is involved when drafting and negotiating a contract or agreement. This helps Business Development Managers to not only meet their clients' needs, but to also understand the risks and opportunities involved in each agreement.

See salaries and explore the career path for Business Development Manager

Financial Advisor

Financial Advisors help their clients create and manage investment portfolios. An understanding of financial contracts and agreements, such as those for stock investments or annuities, is vital to helping clients understand how best to manage their money. Likewise, protecting clients from risk is imperative. This course provides an understanding of negligence and liability, which will aid in helping clients understand risk and how to avoid it. This course may also provide insights into how to raise capital, which is often a large part of financial advising.

See salaries and explore the career path for Financial Advisor

Operations Manager

Operations Managers are responsible for the day-to-day operations of a business, which includes managing contracts and agreements with vendors, suppliers, and other stakeholders. This course will provide Operations Managers with a better understanding of their legal obligations under these contracts and agreements, enabling them to make more informed decisions.

See salaries and explore the career path for Operations Manager

Project Manager

Project Managers often work with complex and highly technical contracts, which require a strong background in reviewing, interpreting, and negotiating agreements. An efficient project manager will have a basic understanding of the legal underpinnings of these agreements. This course provides a strong foundation for understanding the law relating to torts, liability, negligence, sales and warranties, and how those concepts are utilized in contract and agreement management.

See salaries and explore the career path for Project Manager

Human Resources Manager

Human Resources Managers negotiate and draft contracts with employees and vendors. This course will help them to understand the important legal issues that must be addressed in these contracts and agreements.

See salaries and explore the career path for Human Resources Manager

Marketing Manager

Marketing Managers work with legal counsel to establish and maintain compliance with advertising and other marketing-related laws. This course can help the Marketing Manager understand how to tailor contracts and agreements with vendors to ensure compliance with industry standards and regulations.

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Paralegal

Paralegals work under the supervision of lawyers, and perform a variety of duties, such as conducting legal research, drafting legal documents, and preparing for trial. This course may help a Paralegal learn and develop the legal knowledge and skills necessary to carry out these duties, including the ability to interpret legal terminology and understand the significance of various types of contracts and agreements.

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Legal Secretary

Legal Secretaries work under the supervision of lawyers and legal assistants, and perform a variety of duties, such as drafting correspondence, maintaining files, and preparing legal documents. This course may help a Legal Secretary learn and develop the legal knowledge and skills necessary to carry out these duties, including the ability to interpret legal terminology and understand the significance of various types of legal documents.

See salaries and explore the career path for Legal Secretary

Compliance Officer

Compliance Officers are responsible for ensuring that their organizations comply with all applicable laws and regulations. This course may help a Compliance Officer understand the legal aspects of contracts and agreements, and how they can be used to ensure compliance with industry standards and regulations.

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Reading list

We've selected 11 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Legal Contracts and Agreements for Entrepreneurs.