How should Phil organize his new venture? In developing your answer, consider such factors as amount of equity capital needed, business liability, and taxation of the venture. NAS: Phil plans to assemble products for the new venture and also wants to hire sales representatives to sell new product so as to expand his new venture and earn quick revenues.
To organize all this kind of investments he should finance all the start-up cost by himself as it seems low investment and all the materials that he deed will be obtained easily as he is in the same business and created too many prototypes same like this before.
For hiring Sales Representative, he should not hire too many people as he can also be a sales representative. Business Liability will be there but in the beginning phase of the new venture, there will really low risk. The tax policy will be almost the same as the new venture is the same as he was dealing with these products previously.
Phil is concerned about trying to protect the intellectual property embedded in his Pedal Pusher product idea and retype. How might Phil consider protecting his intellectual property? NAS: Phil should consider the following for protecting his intellectual property: The first and foremost step should be educate himself and his employees on the basics of Trademarks, Patents, Trade-secrets and Copyrights. Investing time well in advance for this will help troubles in future. Once the part of knowledge is over, Phil should fix an appointment with Patent Attorney and then get some patents done for his products and ideas.
Phil should also conduct audits so as to identify any other registered and/or unregistered Trademarks and/or copyrights. Phil should also invest in a well written Non-Disclosure Agreements (Ands). Filing of Patents should be done as soon as possible because sometimes in the LISA it can take more than five years to issue patents. Thus, patents will be the best way for Phil to protect his intellectual property. Peg. 181 – 182 8. [Cash Conversion Cycle] Castillo Products Company, described in Problem 7, improved its operations from a net loss in 2009 to a net profit in 2010.
Cite this The Process of Organizing a New Venture
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