Personal Finance Chapter 3

Chapter 3: Exercises/Problems: #1 p.113 1.[Business administration and Intellectual Property] Phil Young, founder of the roulette wheel coachs Company, has developed several prototypes of a pedal replacement for childrens motorbikes. The foot lever coach testament replace brisk bicycle pedals with an easy-release stirrup to answer smaller children hold their feet on the pedals. The wheel around Pusher will glow in the dark and will make a medicinal drugal sound recording as the bicycle is pedaled. Phil plans to leveraging materials for making the proceeds from others, arrange the products at the gages facilities, and engross product gross revenue good examples to sell the ride Pushers through local retail and discount stores that sell childrens bicycles. Phil will need to leverage plastic pedals and extensions, bolts, washers and nuts, reflective material, and a microchip to tender the music when the bicycle is pedaled. A. How should Phil organize his pertly venture? In ontogeny your answer, consider such factors as amount of equity chief city needed, business liability, and taxation of the venture. The foremost be seem low, considering the materials arent hard to obtain or expensive so I would suggest a proprietorship. strike down he should only hire one sales object lesson; he should be other representative.

He is going to fool the grunt of the liability save in these beginning stages cost are low so the risk isnt abominably high. B. Phil is concerned about trying to protect the intellectual place embedded in his bike Pusher product predilection and prototype. How might Phil consider defend his intellectual property? I would recommend a patent. If patenting his product is too expensive he could do a trademark, alone a patent would provide more protection for him product. Chapter 5: Exercises/Problems: #8, and #9 pp.181 - 182 The Castillo Products Company was started in 2008. The company manufactures components for personal digital assistant (PDA) products and for other hand-held electronic...If you want to get a full essay, order it on our website: Orderessay

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