Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
What are the 3 types of businesses?
|
1) Sole proprietorship
2) Partnership 3) Corporation |
|
|
Name two reasons you may want to register a DBA.
|
1) Be able to open a bank account
2) Establish use of your name |
|
|
What is a trademark?
|
A mark by your company to protect you from infringement by others
|
|
|
Name the government agency that issues trademarks.
|
US Patent & Trademark Offices
|
|
|
What is the difference between having a DBA and a trademark?
|
Trademark is not a business entity, can't open a bank account with a trademark
|
|
|
What is a business plan?
|
A synopsis of your business idea in how it will generate a profit
|
|
|
Two reasons why someone would create a business plan?
|
1) Organize their business
2) To set goals for the business/inspire confidence in prospective investors |
|
|
Advantages to being a sole proprietor:
|
Being your own boss
|
|
|
Disadvantages to being a sole proprietor:
|
Liability
|
|
|
Name typical funding sources for a sole proprietorship.
|
Bank loans, "angel" investors
|
|
|
Disadvantages of doing business as a corporation:
|
Lack of flexibility
|
|
|
Typical funding for a corporation
|
Stock/shares
|
|
|
Where do you go to file a corporation in Texas?
|
Secretary of State
|
|
|
Where can you go to file a DBA?
|
Travis County Clerk's Office
|
|
|
DBA stands for
|
Doing Business As
|
|
|
Name the elements of creating a successful business plan.
|
Executive summary, market analysis, company description, organization & management, marketing & sales management, service or product line, funding request, financial projections, appendix
|
