Describe three risks involved in starting a partnership. What steps could you take to address and minimize each of those risks?

1) How might you conduct a feasibility analysis or concept test for starting a new independent business that will sell an entirely new product or service that is not already available in the marketplace? How does this process differ from conducting a feasibility analysis for a new business that will sell an existing product or service?
2)Describe three risks involved in starting a partnership. What steps could you take to address and minimize each of those risks?
3)When considering what organizational form to choose, what factors would be part of the consideration? How could the choice of organizational form affect future growth of a business?
4)Why are historical and pro forma financial statements important to an entrepreneur? Why are they important to a potential investor such as a venture capitalist or banker?
5)Determine specifically what the requirements are for starting a C corp in your state. Indicate what forms need to be filed, where they can be obtained, how the filing process works, and what fees are involved. Provide the URL or complete bibliographic information for each of the sources you use in your response.
6)Why is a formal partnership agreement important? When should a formal partnership agreement be developed? What types of information must go into a formal partnership agreement?

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