Apa Paper Unit 1 Ip
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- Date Submitted: 02/05/2011 07:38 PM
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Abstract
I am an inventor with a great idea that will make home appliances safe. There are other products like this one all of which have inherent dangers unlike mine. My product eliminates all safety issues. This product can be compared to, in a versatility point of view, the “clicker” where as its development has spawned numerous new products and the 3-prong plug which has made the use of electrical devices safer to use. The new technology in this invention will jumpstart sales growth as it will undoubtedly make items easier to handle around the house. Future products resulting from this invention will open doors to new investments and opportunities. I have hardly any financial skills and no management skills. I possess little net worth and will be in need of start-up funds. I have no manufacturing knowledge but I am convinced that this product will be a pedestal for a wide range of other products.
Unit 1 Individual Project
I have no doubt that this product will change the lives of many people as the “clicker” did for remote controls and the 3-prong plug did for electrical devices; this product will safely meet the common everyday consumer needs unlike other similar products. I’ll need a trustworthy partner or partners with financial as well as managerial ability. I do not possess a lot of start-up funds nor do I have the ability to supply the manufacturing of this product so the partner or partners should also be a major contributor. Finding contributors should be no hard task because of the widespread applications that this product offers. Future sales will be significant.
Sole proprietorship is easy and simple to start up. It is the least costly to operate and I would only pay tax once on profits (Gallagher, H. 2006) but as I stated earlier, I do not have the required management skills nor the ability to expand as funds are limited.
A partnership, also known as a general partnership, is a good idea to start with because the funds of...
I am an inventor with a great idea that will make home appliances safe. There are other products like this one all of which have inherent dangers unlike mine. My product eliminates all safety issues. This product can be compared to, in a versatility point of view, the “clicker” where as its development has spawned numerous new products and the 3-prong plug which has made the use of electrical devices safer to use. The new technology in this invention will jumpstart sales growth as it will undoubtedly make items easier to handle around the house. Future products resulting from this invention will open doors to new investments and opportunities. I have hardly any financial skills and no management skills. I possess little net worth and will be in need of start-up funds. I have no manufacturing knowledge but I am convinced that this product will be a pedestal for a wide range of other products.
Unit 1 Individual Project
I have no doubt that this product will change the lives of many people as the “clicker” did for remote controls and the 3-prong plug did for electrical devices; this product will safely meet the common everyday consumer needs unlike other similar products. I’ll need a trustworthy partner or partners with financial as well as managerial ability. I do not possess a lot of start-up funds nor do I have the ability to supply the manufacturing of this product so the partner or partners should also be a major contributor. Finding contributors should be no hard task because of the widespread applications that this product offers. Future sales will be significant.
Sole proprietorship is easy and simple to start up. It is the least costly to operate and I would only pay tax once on profits (Gallagher, H. 2006) but as I stated earlier, I do not have the required management skills nor the ability to expand as funds are limited.
A partnership, also known as a general partnership, is a good idea to start with because the funds of...