1) Respond to the following regarding real property:

What is real property?

What are the advantages and disadvantages of owning real property?

What are the advantages and disadvantages of leasing real property?

Discuss whether your hypothetical company would prefer to own or lease real property during its first year of existence.Provide the reasons for your decision.

2) Respond to the following regarding personal property:

What is personal property?How does it differ from real property?

What distinguishes a "sale of services" from a "sale of goods" under the UCC?How is a transaction treated under the law that includes a mixture of goods and services?Why is this distinction important?

What are the advantages and disadvantages of owning personal property?

What are the advantages and disadvantages of leasing personal property?

Design a list of personal property required by your hypothetical business.Deisgn pros/cons chart for owning personal property.Design pros/cons chart for leasing personal property.For each article of personal property, discuss whether your hypothetical company would prefer to own it or lease it.Provide the reasons for each decision.

3) Respond to the following regarding intellectual property:

What is intellectual property?

Define the following terms: trademark, copyright, patent, and trade secret.

Design a list of intellectual property that pertains to hypothetical business (trademarks, copyrights, patents, trade secrets).

Design and describe a plan that will protect your hypothetical company's ownership interest in these intellectual properties.

1) Respond to the following:

What is a last will and testament?

What is a power of attorney? Describe the difference between a general and contingent power of attorney.

What is a living will?

How does a revocable living trust differ from a last will and testament?

What is a succession plan? Why is it important to a business?

Why is the connection between estate planning and running a business?

2) Draft the following documents:

A Last Will and Testamenthttps://eforms.com/wills/virginia-last-will-and-testament-template/

A Financial Power of Attorneyhttps://eforms.com/power-of-attorney/va/

An Advance Medical Directive and POAhttps://eforms.com/power-of-attorney/va/virginia-advance-medical-directive/

Please note that these documents are created solely for academic purposes. You may modify the templates in the links above.Please do not submit the forms without your modifications.

3) Use the following template to for hypothetical business:https://www.smartsheet.com/succession-planning-templates