Answer Happy

Problem #3 John Brown, founder of the Pedal Pushers Company, has developed several prototypes of pedal replacement for children's bicycles. The Pedal Pusher will replace existing bicycle pedals with an easy release stirrup to help smaller children hold their feet on the pedals. The pedal pushers will glow in the dark and will provide a musical sound as the bicycle is peduled. John plan to purchase materials for making the product from others, assembly the product at the venture facilities, and hire product sale representative to sell the pedal pusher through locul retailer and discount stores that sell children bicycles. John will need to purchase plastic pedals and extensions, bolts washer and nuts, reflective material, and a microchip to provide the music when the bicycle is pedaled. a. How should John organize his new venture? In developing your answer, consider such factor as amount of equity capital needed, business liability, and taxation of the veniture (5 marks). b. John is concerned about protecting the intellectual property embedded in his Pedal Pusher product idea and prototype. How might John consider protecting his intellectual property? (5 marks)