Exam 8: Calculating Startup Capital Requirements

Parties who run their own businesses and are hired by the entrepreneur to do a specific job are ____.

Briefly discuss the important factors in composing the founding team.

The Law of Agency defines the terms employee and independent contractor ____.

The single most important factor in the success or failure of founding teams is:

Choosing a good attorney is a time-consuming but vital task that should be accomplished immediately after startup.

The entrepreneurial team owns all or the majority of the stock in a ____.

Which of the following is not an independent contractor you would expect to find on an entrepreneur's extended team?

In a wholly owned or closely held corporation, there really is little distinction between the functions of a board of directors and those of a board of advisers.

What are the functions of the board of directors?

Discuss the advantages and disadvantages associated with virtual teams.

If a new venture is a corporation, a board of directors is required.

Because they tend to be fairly expensive, consultants are best used for ____.

A high-tech venture with significant up-front funding and the potential for exponential growth requires a management team of ____.

Briefly discuss how attorneys can supply a wealth of support for the new venture.

An accountant can help a growing business in all of the following except ____.

Working boards are crucial in the startup phase.

A board member who is a founder, employee, or retired manager of the firm is a/an ____.

____ are more likely to make the mistake of putting structure on the organization before its time.

When choosing people to serve on the board of directors, consider those who have all of the following characteristics except ____.

Attorneys can provide the new venture with a wealth of support, which includes all the following except ____.