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Assignment
Darnella has designed software for use in making microloans. Her business is a sole proprietorship and has poor cash flow. Darnella doesn’t have much experience in marketing software. Several people have told Darnella that her software has international appeal, especially in the developing world. Based on her conversations with others, Darnella believes that she can interest as many as 150 people and businesses to invest in her company. Darnella also hopes to take the company public one day in an IPO (initial public offering). Darnella is afraid that, if she sells an ownership interest or interests in the business, people who are more concerned with the bottom line, rather than with the quality of the company’s software, will take over her business, and adversely affect her creativity to create new software and to update her current product. What type of business should Darnella form?
She is also concerned that employees will leave her company and use her customer list and design research. [Assume that the software designed by Darnella does not infringe any existing patents, but that the software does not qualify for patent protection.]
Question
What type of business should Darnella form? How can she protect herself from former employees’ actions?
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