$1$a$)$What is the economic advantage to a trade secret? Please explain why.

$1$b$)$Of the three valuation methods for an intangible asset discussed in the chapter, which one would you use and why?

$1$c$)$Regarding Stock Price, explain how it is set at the time of company formation. Describe the key factors that influence stock price before IPO.

$2)$What is goodwill and how is it different from other intangible assets?