Assessment No. 2 | Part 2-From Idea to the Opportunity

The starting point for any successful new venture is the _______________________________________.

A technique useful in both idea generation and problem solving, stimulates creativity by allowing a small group of people to work together in an open, nonstructured environment.

Ideas showing the most potential are then moved through the concept stage, the product development stage, the test marketing stage, and finally into ________________________.

It is conducting of business activities by an entrepreneur across national boundaries.

Once an entrepreneur decides to be involved in international business, the general modes of market entry needs to be considered:

• exporting

• exploiting

• equity arrangements

• nonequity arrangements

These protect original works of authorship; registered with the Library of Congress and do not usually require an attorney; have become relevant to the use of the Internet, especially to download music, literary works, pictures of videos.

These are important part of the transactions that the entrepreneur will make. As a rule of thumb, oral agreements are invalid for deals over one year and over $500. In addition, all real estate must be in writing to be valid.

A trademark may be a word, symbol, design, or some combination or a slogan or sound that identifies the source of certain goods or services. Trademarks give the entrepreneur certain benefits as long as the following requirements are met:

• completion of the written application form

• submission of a drawing of the mark

• submission of five specimens showing actual use of the mark

• payment of the required fees

This Act was passed in 2002, amended in 2010, and places a great burden on public companies to streamline their financial reporting, modify the role and responsibility of board of directors, and basically provide more checks and balances to avoid repeating the scandals of WorldCom, Enron and others.

BONUS

• Yes!

• No thanks.