Entrepreneurship Lecture 5
Entrepreneurship Lecture 5
ENTREPRENEURSHIP
BY:
STEWART MAKOSANI (PhD)
Department of Agribusiness
Management
+265 999 175 725 (not on
WhatsApp)
+265 882 939 333
[email protected]
Lilongwe University of Agriculture & Natural
[email protected]
Resources:ABM Department
LEGAL CHALLENGES IN
ENTREPRENEURSHIP
Entrepreneurs cannot hope to have the
legal expertise or background of an
attorney, of course, but they should be
sufficiently knowledgeable about certain
legal concepts that have implications for
the business venture.
business.
Resources:ABM Department
INTELLECTUAL PROPERTY
PROTECTION: Patent
A patent is an intellectual property right.
Any work that receives a copyright is protected for the entire life
of the author plus 70 years.
1. Sole proprietorship
2. Partnership
3. Corporation
1. Limited liability
2. Transfer of ownership
3. Unlimited life
4. Relative ease of securing capital in large
amounts
Lilongwe University of Agriculture & Natural
Resources:ABM Department
5. Increased ability and expertise
DISADVANTAGES OF
CORPORATION
1. Activity restrictions. Activities are limited
by the charter and various laws
3. Regulation…..expensive