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Max ?and Marilyn have pooled their savings to create a


Max  and Marilyn have pooled their savings to create a start-up company to  develop and market an invention they have created together.  At this  point their invention is a secret widget they have not shared with  anyone.  So here are the facts of where they are at this point:

  • They  know they want to have a business together to develop and market their  widget. They are considering forming a Limited Liability Company (LLC).
  • They have a business name selected which is unique according to their research.
  • They also have chosen a unique name for the widget.
  • They have designed a logo for the business.


  1. Explain three (3) reasons why an LLC is a GOOD choice for them for organizing their business.
  2. Identify  and recommend two (2) types of intellectual property (IP) they can  secure in the United States for their widget and for each IP include the  following: 
    1. Definition of the IP;
    2. The benefit of the particular IP and the kind of protection it provides;
    3. Length of time the IP protection will last; and
    4. The U.S. government agency that issues and/or otherwise oversees the IP

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