1. CASE 7.1 Preparing a Proper Legal Foundation: A Start-Up Fable
Elise & Huyen

2. Introduction Jack Peterson & Sarah Jones Place Product
iUser Accessories
Place
kiosks in malls & high-traffic areas
Product
accessories for Apple iPods & iPhones
Promotion (value-added)
videos for better use of iPods & iPhones

3. Feasibility Analysis & Business Plan
Distribute concept statement
positive & instructive responds
"Not only will this approach save you money but it will drive traffic to your Web site and provide you with additional e-commerce opportunities."

4. Feasibility Analysis & Business Plan
Survey in target market
410 people (15- to 35-year-olds)
design by marketing professor
52% own or plan to get iPod/iPhone
majority don't know existed accessories
participants showed high degree of interest

5. Start-Up Capital
Commitments funding
$66,000
friend and family

6. Meeting with Attorney
Making a plan to exploit the time and minimize the expense
Making the list of issues to discuss with the attorney (ex: legal issues, forms of business, ect)
Making recommendations with the attorney
Send the list of issues along with their recommendations a week prior to the meeting

7. Discussion question 1
Complete Jack and Sarah’s list for them, including the issues you think they will place on the list along with their recommendations. Which of the issues do you think will stimulate the most discussion with the attorney, and which issues do you think will stimulate the least?

8. Discussion question 1 The issues The ownership of the business
Intellectual property

9. Discussion question 2
Make a list of the things you think Jack and Sarah did right in preparing for their meeting with the attorney.
I think all things presented in my part are right in preparing for their meeting with attorney.

10. Discussion question 3
Comment on the product feasibility analysis that Jack and Sarah completed. Do you think the way Jack and Sarah approached this task was appropriate and sufficient?

11. Discussion question 3
Jack and Sarah used sound approach. They distributed their videos to their potential customers and collected valuable feedback.

12. Discussion question 4
What advantages do Jack and Sarah have starting iUser Accessories together, rather than one of them starting it as a sole entrepreneur? What challenges do you think Jack and Sarah will have keeping their partnership together?

13. Discussion question 4 Advantage Challenge
share ideas, talents, resources
Challenge
disagreement on making decision
how to share ownership (who takes charge)