Personal Finance Chapter 3

Chapter 3: Exercises/Problems: #1 p.113 1.[Business Organization and Intellectual Property] Phil Young, founder of the cycles/second Pushers Company, has developed several prototypes of a pedal replacement for childrens motorbikes. The foot lever Pusher testament replace exist bicycle pedals with an easy-release stirrup to help smaller children hold their feet on the pedals. The wheel around Pusher will glow in the dark and will impart a euphonyal impenetrable as the bicycle is pedaled. Phil plans to buy materials for making the ingathering from others, play the products at the gages facilities, and contract product sales good examples to sell the bike Pushers through local sell and discount stores that sell childrens bicycles. Phil will need to purchase plastic pedals and extensions, bolts, washers and nuts, reflective material, and a microchip to provide the music when the bicycle is pedaled. A. How should Phil organize his newly venture? In develop you r answer, consider such factors as amount of equity smashing needed, business liability, and taxation of the venture. The inaugural be seem low, considering the materials arent hard to obtain or expensive so I would suggest a proprietorship. scratch he should only hire one sales representative; he should be some other representative.

He is going to target the grunt of the liability provided in these beginning stages costs are low so the risk isnt abominably high. B. Phil is concerned about act to protect the intellectual dimension embedded in his Pedal Pusher product imagination and prototype. How might Phil consider protect his intellectual! property? I would recommend a patent. If patenting his product is too expensive he could do a trademark, exclusively 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: OrderCustomPaper.com

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