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Please come up with a business idea and the area of the economy you think it wil
Please come up with a business idea and the area of the economy you think it will be a success. What would be the target market you feel could use your products or services?
Describe the various business associations discussed in the lectures, i.e., sole proprietorship, LLC, etc. If you were to choose one to establish your own business, which one would it be and why? What would be the legal process to begin the business? Would it be based from home? (You may use outside information and links.). What would you do to prepare to the legal environment in which your business will work? Would you engage a lawyer? What would you want to see in your contracts with suppliers and customers? How would you prepare for any potential liability, let’s say, if someone were injured in your place of business?
What types of intellectual property would you have? These are not exhaistive questions but some to help you think.
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