Chapter 13 Legal and tax issues, including intellectual property. The topics discussed in this chapter are: describe and prepare a basic balance sheet, describe and prepare a basic income statement, explain the use of internal statements as they relate to formal financial statements, briefly describe the cost of production schedule and the inventories schedule,.and another content. | Entrepreneurship Canadian Edition William D. Bygrave, Andrew Zacharakis, Sean Wise 1 LEGAL AND TAX ISSUES, INCLUDING INTELLECTUAL PROPERTY Chapter 13 2 3 Learning Objectives Leaving Your Present Position Learning Objective Outline the requirements for leaving a current position. Intellectual Property Learning Objective Describe the different types of intellectual property. Choice of Legal Form Learning Objective Compare and contrast the different types of legal forms of a business based on the factors of control, personal liability, and taxation. 3 4 Learning Objectives (continued) Shareholders’ Agreements Learning Objective Explain why shareholders’ agreements are important and outline the information that should be contained in such an agreement. Legal and Tax Issues in Hiring Employees Learning Objective Outline the legal and tax issues to be considered when hiring employees. Raising Money Learning Objective Explain the legal implications for entrepreneurs in raising money for their venture. 4 Today’s Key Concepts Three legal types of ventures Corporate veil Corporate opportunity doctrine Shareholders’ agreement Types of intellectual property 5 Things to Consider When Leaving a Company. 6 Intellectual Property Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce 7 Intellectual Property Comparing common law “mark” with registered trademark 8 Choice of Legal Form Forms Brief description Sole Proprietorship Owned and operated by one owner who is in total control Partnership Two or more persons go into business for profit, as co-owners, sharing profits and losses Corporation Separate legal entity, with legal existence apart from its owners, the shareholders Limited Partnership One or more general partners, who conduct the business, and one or more limited partners, who act as passive investors Limited Liability Company . | Entrepreneurship Canadian Edition William D. Bygrave, Andrew Zacharakis, Sean Wise 1 LEGAL AND TAX ISSUES, INCLUDING INTELLECTUAL PROPERTY Chapter 13 2 3 Learning Objectives Leaving Your Present Position Learning Objective Outline the requirements for leaving a current position. Intellectual Property Learning Objective Describe the different types of intellectual property. Choice of Legal Form Learning Objective Compare and contrast the different types of legal forms of a business based on the factors of control, personal liability, and taxation. 3 4 Learning Objectives (continued) Shareholders’ Agreements Learning Objective Explain why shareholders’ agreements are important and outline the information that should be contained in such an agreement. Legal and Tax Issues in Hiring Employees Learning Objective Outline the legal and tax issues to be considered when hiring employees. Raising Money Learning Objective Explain the legal implications for .
