Personal Finance Chapter 3

Chapter 3: Exercises/Problems: #1 p.113 1.[Business Organization and Intellectual Property] Phil Young, founder of the cycle per second Pushers Company, has developed several prototypes of a pedal replacement for childrens motorbikes. The foot lever Pusher testament replace animate 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 medicineal pop off as the bicycle is pedaled. Phil plans to acquire materials for making the result from others, match the products at the gages facilities, and pursue product sales good examples to sell the wheel 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 growing your answer, consider such factors as amount of equity roof 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 another(prenominal) representative.

He is going to target the grunt of the liability moreover in these beginning stages costs are low so the risk isnt abominably high. B. Phil is concerned about nerve-racking to protect the intellectual dimension embedded in his Pedal Pusher product imagination and pr ototype. 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, scarce 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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