EEE 2023 Exam 2 chapters 6-10 With
100% correct answers ( graded A+ )
Market analysis
definition of overall market
Bottoms up approach
How do i get my first then second and so on to build it up
Top down
Sets realistic expectations
Doesnt say how you get there
Most investors look for an______
exit strategy
Diwight Eisenhower
"Plans are worthless planning is everything"
Training programs
teach business ethics to help employees deal with ethical dilemmas and improve ethical
conduct
Ethical dilemma
situation involves doing something beneficial for one's self or business but maybe an unethical
conflict of values
Founders Agreement
written dc that deals with how a company is agreed to be formed structured and how decisions
are made ownership status and responsibility of owners
Operating agreement
Details of how the company is run included everything from founders' agreement how to buy
out a founder and more
Partial list to include in a founder's agreement
, Nature of prospective business
Identity and proposed titles of the founders
apportion of stock or division of ownership
consideration paid of stock or ownership share of each of the founders
identification of any intellectual property signed over to the business
description of how founders will be compensated and how profits in the business will be divided
provisions for resolving disputes
buyback clause
Nondisclosure agreement (NDA)
cannot disclose company's trade secrets
Noncompete agreement
prevents an individual from competing against a former employer for a specific period of time
easy paperwork and little protection to lots of protection and paperwork
1. sole proprietorship
2. partnership
3. limited partnership
4. LLC limited liability company
5. S corporation
6. C corporation
Sole Proprietorship
- simplest form of business entity
- A form of business organization involving one person and the person and business are one in
the same
- A sole proprietorship is not a separate legal entity the sold proprietor is responsible for all the
liabilities of the business and this is a significant drawback
Advantages of Sole Proprietorship
100% correct answers ( graded A+ )
Market analysis
definition of overall market
Bottoms up approach
How do i get my first then second and so on to build it up
Top down
Sets realistic expectations
Doesnt say how you get there
Most investors look for an______
exit strategy
Diwight Eisenhower
"Plans are worthless planning is everything"
Training programs
teach business ethics to help employees deal with ethical dilemmas and improve ethical
conduct
Ethical dilemma
situation involves doing something beneficial for one's self or business but maybe an unethical
conflict of values
Founders Agreement
written dc that deals with how a company is agreed to be formed structured and how decisions
are made ownership status and responsibility of owners
Operating agreement
Details of how the company is run included everything from founders' agreement how to buy
out a founder and more
Partial list to include in a founder's agreement
, Nature of prospective business
Identity and proposed titles of the founders
apportion of stock or division of ownership
consideration paid of stock or ownership share of each of the founders
identification of any intellectual property signed over to the business
description of how founders will be compensated and how profits in the business will be divided
provisions for resolving disputes
buyback clause
Nondisclosure agreement (NDA)
cannot disclose company's trade secrets
Noncompete agreement
prevents an individual from competing against a former employer for a specific period of time
easy paperwork and little protection to lots of protection and paperwork
1. sole proprietorship
2. partnership
3. limited partnership
4. LLC limited liability company
5. S corporation
6. C corporation
Sole Proprietorship
- simplest form of business entity
- A form of business organization involving one person and the person and business are one in
the same
- A sole proprietorship is not a separate legal entity the sold proprietor is responsible for all the
liabilities of the business and this is a significant drawback
Advantages of Sole Proprietorship
