Problem:
An entrepreneurial physician invents a surgical instrument that may have substantial value, and the physician wants to commercially exploit the invention. The physician has sufficient capital for the early stages of the venture, but, if a patent can be obtained, substantially more capital will be required, and it is likely that the capital will come from outside investors.
1. Describe two different forms of business organization that are suitable for this purpose and what actions must be taken and documents that must be prepared to complete the organizational process. Please be specific.
2. Which form would you recommend and why? Be sure to describe your analytical criteria.
Additional Requirement:
This question belongs to the Law and it discusses regarding a condition where the physician invents a surgical instrument as well as is trying to patent and commercially exploit it. The different forms of business organizations which are best suited in this condition have been stated in the solution.
Total Word Limit: 105 Words