Directions: Please answer the following questions using complete sentences. A minimum of one paragraph is required for each response. Each paragraph must be five to seven sentences in length.
- In your own words, what is a patent? Of what value is a patent to an entrepreneur? What benefits does it provide?
- What are four basic rules entrepreneurs should remember about securing a patent?
- In your own words, what is a copyright? What benefits does a copyright provide?
- What is the nature of an S corporation? List five requirements for such a corporation.
- How can an entrepreneur find out if the business is going bankrupt? What are three early warning signs?
- Explain the difference between Chapter 7 and Chapter 11 bankruptcy. Why do many people prefer Chapter 11 to Chapter 7?
- What are the benefits and drawbacks of equity and of debt financing? Briefly discuss both.
- Identify and describe three objectives of venture capitalists.
- Identify and describe four of the most common criteria venture capitalists use to evaluate a proposal.
- In a new-venture evaluation, what are the four stages through which a proposal typically goes? Describe each in detail.
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