1) Assume that you are a webpage designer. One of your customers asks you to make a blog for their website. They state that they will pay you $5,000 to complete the blog page. You agree to create the blog for $5,000.

Have you formed a contract and if so, what kind? What problems might you or your customer have should there be a dispute about this transaction?

2) Describe the four major categories of intellectual property? What do each of these four protect and give an example of each?

3) List five types of business organizations and describe their structure? What liability do the owners have for each?