Business Finance
BUSN 623 American Military University Business Organizations Essay

BUSN 623

American Military University

BUSN

Question Description

I need support with this Management question so I can learn better.

FACTS:

  • Gemma and James have pooled their savings to create a start-up company to develop and market an idea they conceived while students together at MIT. They obtained permission to use a college lab during late night hours a few nights a week during their last term before graduating to work on the project. Then they were able to move to James’ parents’ garage, which they keep locked.
  • Now they need more sophisticated resources. They have created a prototype robotic device, called "Phoebe," that will aid first responders in disaster relief by sensing and locating survivors remotely in areas unsafe for humans and dogs to navigate. Phoebe's ensors will locate living beings, scan vitals and assess level of trauma.
  • Gemma and James have mapped out both private and public, civil, and military, applications of their invention, plus continued R & D improvement into next-phase capabilities.
  • They have not shared their theory, the prototype, their documentation or any of the associated hard and soft technologies with anyone, but anticipate needing to do so to obtain a funding source.
  • They are concerned about others learning of their technology ahead of their chance to obtain IP protection and customers, because they caught a nosy ex-classmate of theirs, Clarence, hanging around their lab.

EXPLAIN AND DISCUSS IN A WELL ORGANIZED PAPER:

  1. The type of business organization Gemma and James should use to organize their business entity and why;
  2. The four types of intellectual property (IP) and which of these have application to Gemma and James’ invention, Phoebe. Include case law that illustrates these;
  3. The steps Gemma and James should take to protect their invention.
  4. What recourse they might have against Clarence (or someone like him) if he has indeed obtained knowledge of their invention, and how such a dispute might be resolved using types of ADR.

Concepts that should be included in your essay:

  • Types of business organizations; considerations for organizing and operating a business;
  • Legal environment of business; considerations for management and training to meet business needs;
  • Types of IP and their application to Phoebe (include case law);
  • IP protection (part of case law requirement could be used here);
  • Relevant methodologies and practices as illustrated by major contributors or organizations (e.g. US PTO, WIPO);
  • IP litigation claims and defenses and types of alternative dispute resolution (ADR), including case law that illustrates types of ADR in practice (especially IP);
  • Considerations of business management for handling IP innovation, selection of IP protections;
  • Business compliance issues that Gemma and James should consider.

Be creative! Organize your paper in APA format using appropriate headings with smooth transitions.

In addition to the case law, you must research and cite scholarly sources, one of which must be your textbook. (See rubric - Exemplary level requires at least 4 sources plus textbook.)

Please review the Rubric for this Assignment, as it is included as part of the instructions .

Also attached: APA Paper- Writing Tips PPT to assist you in formatting your paper and citations. You might also refer to Purdue's THE OWL, and APUS Library for APA guidelines.

Word length: The Exemplary level of the Rubric is 1500-2100 words. This requirement is exclusive of title page and the References list. Also, you do not need to include an abstract. If you do, it is not part of your word count.

Student has agreed that all tutoring, explanations, and answers provided by the tutor will be used to help in the learning process and in accordance with Studypool's honor code & terms of service.

Final Answer

Attached.

Running head: BUSINESS ORGANIZATION

Name
Institution
Course
Tutor
Date

1

BUSINESS ORGANIZATION

2

Introduction
Starting up a business requires the business owner to be diligent in the process to protect
the interests of the company. Business planning is necessary to ensure that all areas concerning
the business are covered to have a successful beginning of the business which sets the pace for
the longevity of the business (Tulsian, Tulsian & Pandey, 2008). Things do not always go as
planned because of both internal and external factors but a successful business must learn how to
adapt in changing circumstances. Building up a brand is the ideal way to start a business and this
is the part where Gemma and James are struggling with as they build up their business. They
have an idea that they intend to market to the world but they need to protect their business model
until they have acquired the necessary documents to protect their business.
Business Organizations
To protect their business entity, Gemma and James need to decide on the business
organization for their company. There are several types of business organizations that the two
partners my choose from; Partnership, Corporation, Cooperative, Limited Liability Company
(LLC), among others (Fontana& Trakin, 2010).
Partnership
Gemma and Janes are two people who've consolidated their savings to start a single
business. A partnership is, basically, a single business that is owned by two or more people. The
partners have to contribute to every aspect of the business which includes capital, property, skill
or labor. Each partner also shares the profits as well as the losses of the business. Since a
partnership is the coming together of more than one individual, the decision-making process
becomes complex. Therefore, proper discussions before the start of the business are necessary to

BUSINESS ORGANIZATION

3

set things in order and develop legality to the process and create a legal agreement of
partnership. A partnership agreement is not required by law but it is encouraged to set the pace of
the business and settle issues later as the business grows (Fontana& Trakin, 2010). It is easy to
start this type of business but there is no separation of assets between the owner of the business
and the business itself. It also opens the business owner to unlimited liabilities.
Limited Liability Company (LLC)
Gemma and James may decide to set their business as an LLC which offers the owner of
the business the features of liability that a corpora...

chemtai (23917)
UT Austin

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