Write a detailed explanation of how a company can raise cash by issuing common stock in an Initial Public Offering (IPO). Explain how the company would work with an investment bank in issuing stock in the primary market (firm commitment or best efforts underwriting, registration, red herring, quiet period, shelf registration) and how it would subsequently trade in the secondary market (trading process, in the NYSE and NASDAQ). In your explanation, include how an investor could profit, their rights (preemptive right, voting rights) , liability.