Fundamentals of Entrepreneurship paper Research Example | Topics and Well Written Essays - 750 words

Fundamentals of Entrepreneurship - Research Paper ExampleFor instance, a business dealing with chastenal goods will make losses when the season ends. Also, failure to manage the business in a professional way may lead to collapse of the business. Managing the business is a broad term that encompasses many aspects such as finance, intellectual plaza and human resources among others (Bygrave & Zacharakis 103). This paper examines the issue of intellectual property rights on my proposed business car dealership.Business ideas can be hard to protect from imitation or copying. Intellectual property refer to the creations of the mind such as inventions, artistic and literally work, images, designs and names for commercial purposes (Libecap 46). Products in the market take a lot of time during their development, but once they are in their finished form, they can be subject to imitation within a short time. Intellectual property rights are laws that seek to protect products from such dupl ication that will affect the profits of the company illegally.Intellectual property protection exists in various forms such as patents, copyrights and trademark. The first form will not apply to the business. Patents mainly protect authors whose work is authentic and not obvious. However, the business will utilize the other two forms of protections. The car dealership business has been a successful affair for those who have undertaken it. This means that other entrepreneurs ability be interested to infringe into the businesss trademark and copyrights in the case that it becomes successful (Libecap 47).A trademark refers to the name of the business or the put up name. This also includes any symbols in the name that signify a product or distinguishes the product from that of other businesses in the market (Libecap 47). Such symbols might face small and insignificant but play an immense role in the identification of a companys product by customers. The business may register the mark and