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The four main financial objectives of a firm are:

The three reasons startups need funding are:

According to the textbook, there are three types of startup firms:

Which of the following are the four key forms of intellectual property protection?

_______________ means that as a firm grows and adds personnel, the new hires typically do not have the same ownership incentives as the original founders, so the new hires may not be as motivated as the founders to put in long hours or may even try to avoid hard work.

A(n) ___________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.

Hulu.com allows people to watch television shows and movies on the Internet.  Hulu.com’s business opportunity was made possible by ___________ that enhanced the ability of television shows and movies to be uploaded to the internet and played by anyone with a suitable computer and an Internet connection.

Peter Watson is thinking about launching a small business consulting company.  To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office.  The SBA advisor told Peter that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it.  The SBA advisor is telling Peter to write a(n) ___________.

A(n) _____________ is a snapshot of a company’s assets, liabilities, and owners’ equity at a specific point in time.

______________ feasibility is an assessment of the overall appeal of the product or service being proposed.