DECA Entrepreneurship PI

Describe methods used to protect intellectual property

Intellectual property is a proprietary work/invention of an owner. Owners of IP file through the U.S. Patent and Trademark Office to protect proprietorship of their work. When challenged in court, owners of IP must defend the validity of their ownership.

U.S. Patent and Trademark Office Legal Documents:

Patent - government license giving right to exclude others from making, using, or selling an invention (for a limited time)

Trademark - symbol or word(s) legally registered as representing a company or product

Copyright - exclusive right to print, publish, film, and perform media (and authorize others to do the same)

Describe legal issues affecting businesses

Disgruntled Employees, Discrimination/Harassment Cases, Immigration Audits, Copyright and Patent Issues, Dissatisfied Customers, etc.

Identify the basic torts relating to business enterprises.

Torts are civil wrongs by or against a business causing harm to its assets - both tangible and intangible.

Components:

Duty - defendant's obligation of action

Breach of Duty - defendant's transgression of duty

Causation - reason for injury caused by defendant

Injury - damages to plaintiff

Types:

Negligence - unlawful and unintentional

Intentional Tort - unlawful and intentional

Strict Liability - lawful, but resulted in injury

Describe the nature of legally binding contracts

Both parties agree to the terms of a written or spoken contract, or face legal consequences.

Explain the nature of human resources regulations

to provide a safeguard for employees so they are getting rights and the treatment they deserve

Explain the nature of workplace regulations

to provide consistency in structure and guidelines of a company, and to make sure that each employee is protected , and the companyis protected against lawsuits

**Explain types of business ownership.

Sole Proprietorship-One individual operating the business alone

General Partnership-Composed of two or more people who operate business by sharing expenses and profits

Limited Partnership-One or two general partners with one or more limited partners

Limited Liability Partnership-When one partner does not have liability for the other partner

Limited Liability Company-Is formed by one or more individuals through a special written agreement

Corporation-Business operated by a board of directors

http://bls.dor.wa.gov/ownershipstructures.aspx

Select form of business ownership

Explain the nature of tax regulations on businesses

the nature of tax regulations , or treasury regulations, on business are to pick up where the tax laws leave off

explain the nature of businesses reporting requirements

the nature of business is reporting requirements are to make sure that investors and Regulators can evaluate a company's financial performance in business operations. additionally, it's necessary to have access to these reports so the public can find discrepancies among reports and the company can have transparency

develop strategies for legal or government compliance

establish, evaluate, study, authorize, train, involve, Ensure

explain management role in customer relations

lead and motivate the team to ensure that they're giving the best customer service possible, handle complaints, and queries, and sort security issues.

**identify the impact of small businesses on market economies

small businesses in the economy has consistently shown that the creation of new businesses drives economic Prosperity. It increases the competition of emerging sectors, inspires Innovation. They are critical for economic growth and Innovative capacity and many regions. Additionally, they add to job creation, economic growth, and poverty reduction. Make sure to cite the entrepreneurship and Regional development Journal

describe the nature of taxes

the nature of taxes is to benefit the society and to be used as an instrument of attaining certain social of Jeff. Governments use taxes to either speed or slow economic growth

describe the concept of economies of scale

economies of scale refer to reduce cost per unit that arise from increased total output of a product

leverage personality types in business situations

The best businesspersons tend to be extroverted, intuitive, judging thinkers (ENTJ on the Myers-Briggs personality scale). Extrovertedness is most important as businesspersons must often communicate with others.

adapt management style to the personality type of others

know the strengths and weaknesses, as well as needs and wants of each personality type in business

sell ideas to others

Evidence, emotion, and reasoning can sell an idea to an audience.

Persuade others.

Logos (statistics and reasoning), pathos (feeling and emotion), and ethos (expertise and qualifications) can be used to persuade an audience.

demonstrate negotiation skills

Negotiators should discuss terms, clarify goals, brainstorm win-win solutions, agree on a contract, and implement the course of action.

encourage team building

clear expectations, context, commitment, control, collaboration, communication, consequences, coordination, and cultural change.

actors in role models of a field organization standards or values

just be a role model

recognize or reward others for their efforts and contributions

make it personal, provide opportunities, magnify recognition, offer beyond the call of duty perks, motivate through financial incentives, facilitate peer to peer recognition.

determine stakeholder expectations

identify the stakeholders, identify the preferred mode of communication, keep stakeholders engaged throughout the process, accurately map expectations, classify the level of communication for each stakeholder, identify which stakeholder will be Advocates, Engage The stakeholder in decision-making, make sure the manner in which the project is accomplished is positive even when negative occur.

establish strategic relationships with others

a strategic relationship is a relationship between two commercial Enterprises, usually formalized by one or more business contracts. They usually fall short of a legal partnership entity, agency, or Corporation affiliate relationship

share best practices with key individuals and groups

best practices are practices determined to Be an Effective and practical for business operations

leverage business relationships

keep selling clients, talk on a regular basis, send them notes, ask for introductions, take the initiative

describe the nature of entrepreneurship

entrepreneurship is the development of a business from the ground up, including coming up with an idea and turning it into a profitable business

explain the role requirements of entrepreneurs and owners

Entrepreneurs and owners should be good leaders and well-versed in business.

describe small business opportunities in international trade

Small businesses can use the globalization offered by the Internet to reach a wider audience to market and sell to.

explain the need for entrepreneurial discovery

need for entrepreneurship Discovery goes along with Innovation. Entrepreneurship Discovery increases the market competition, spires more Innovation, leads to Industrial progress, and increases jobs and production.