Answered: You have been hired by an inventor of a…

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter15: Using Management And Accounting Information

Section15.5D: Liabilities And Owners’ Equity

Problem 3CC

See similar textbooks

Related questions

Question

You have been hired by an inventor of a new power cell for cars, trucks and boats, who has some inquiries from prospective investors who would like to know more about the invention before they put their money into the business. He has not yet incorporated his business, but likes the idea. There are three key issues to deal with: 1) Incorporate his company after explaining the pros and cons of incorporation. The name he proposed was 21st Century Vehicle Batteries Inc. 2) You must advise him as to how to protect his intellectual property. He has only applied for one patent that is not yet approved. What else should he do? Describe any essential steps. 3) Prepare a non-disclosure agreement for him to give to the prospective investors to sign. You will want to keep the NDA fairly easy to understand , so limit the document to 3 pages, but all the key points must be covered.

Expert Solution