Chapter 8 Reflection Blog

            I learned very important things that new business owners should know from Chapter 8, The Legal Environment. One of the things I learned was the legal issues affecting business start-ups. They are permits and licenses, contracts, and location. I also learned that you have to renew or get a new patent after a 21 year period. That a patent infringement is when someone makes and sells a product that contains all elements of a patent claim. That the building codes are a set of standards for constructions or modifications of a building. Invoice is an itemized statement Chapter 8 was important to new business owners and current business owners because it tells them all about the laws that affect the owner, employees, and the business itself. Knowing this will help me in the future as a business owner because know I know what thing I should do to keep my business protected and away from sues.

The Big Idea Series #1

What all the entrepreneurs in this series have in common is that they all started their business or businesses on something they wanted, enjoyed, or were good at. Sean Combs (Diddy) really enjoyed the music business. Kim and Scott wanted, if you can say, unique pretzels. Ryan Blair and Cameron Johnson found themselves very interested in that internet world. One of the disadvantages of being a young entrepreneur would be that people may not take you series. They may think that since your young you don’t know what you’re doing, or don’t have what it takes to make a successful business. Another thing I think would be a disadvantage would be that if you’re as young as young as Cameron Johnson when he started his Beanie Baby business, you are not old enough to drive and you need to get to different places for your business. I found the Cameron Johnson series the most interesting because he started off at a very young age. He started his third business ,Beanie Baby Business , at only twelve years old and was already making $50,000 a year.