Josh Smith is an engineering student at CBU. He has contacted you regarding a product idea. He has an idea for a software program and sensor to alert a driver if a child is left in a car. He knows that you have knowledge about the law because you take ENGM 621. He would like to develop the product with you: the steps being design, build, validation and then marketing.
Write an email to Josh Smith describing:
1. What are the types of business entities. What are their characteristics?
2. Which type of business entity do you suggest for the business. (explain the basis for your suggestions ).
3. What type of intellectual property can be used to protect the business assets?
4. Assume you would like to contract out the development of the sensor with a company in China. How should you proceed? What do you need to be concerned about? How do you reduce the risk?