- What are the four (4) primary day-to-day challenges involved with growing a firm? Briefly describe each challenge.
- Describe the term "liability of newness" and suggest several ways that a new venture can overcome this handicap.
- What is intellectual property? Why is it called "intellectual" property? Why is intellectual property such an important issue for entrepreneurial firms?
- Identify and briefly describe the three types of patents. Include an example of each.
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