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 living 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 medical specialtyal full as the bicycle is pedaled. Phil plans to procure materials for making the product from others, launch the products at the gages facilities, and drive product sales good examples to sell the pedal 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 developi ng your answer, consider such factors as amount of equity slap-up 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 hardly in these beginning stages costs are low so the risk isnt abominably high. B. Phil is concerned about try to protect the intellectual dimension embedded in his Pedal Pusher product imagination and prototype. How might Phil consider defend his intellectual property? I would recomm end a patent. If patenting his product is to! o expensive he could do a trademark, just 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.net

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