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Legal Issues and Pitfalls-Mod 4 Case

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Legal Issues and Pitfalls

Task Rabbit (formerly RunMyErrand) is a new venture which is expanding. Use the teaching materials to develop a checklist of what you regard as the most important legal issues and potential pitfalls likely to face the venture and then apply this list to assess the venture's likelihood of success.
Jessica Martin
Trident University International

“If you don’t know exactly where you’re going, how will you know when you get there?”- Steve Maraboli. Leah Busque did her homework, research, put it to the test and now is ready for acting. Little over three years ago she put was offered a total of $1 million dollars from interested investors for her venture. Leah first started the company over on the east coast and in 2009 decided to move it into the San Francisco area and right away as projected the first 50 beta users loved the idea and it began to buzz.

So how did Leah’s investors evaluate that her company was a good investment and better yet a good legal decision? Though you will want to go over most of this with an attorney, as stated most attorneys don’t have an in depth understanding of everything or the vision you have for your company needs and it always helps doing your homework prior to making any final decisions. Let’s go over a few legal issues/situations that are evaluated when investors sought out new ventures. First, we will start with the business plan itself and the “idea” of it. Too often new businesses slam into a brick wall because of incomplete business plans and more than often you will not be able to find anyone that will want to invest into this so call “Back of The Napkin” business plan, one genious idea scratched onto and napkin and the millions start flowing in. The truth is that no new business has ever succeeded without a detailed and thorough business plan. The name comes from the notion

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