1. What are the typical ways of compensating venture capital managers? What is a high water mark? 2. What is the difference between a strategic investment and a financial investment in an M&A transaction? Please give examples. 3. If a stock is selling for $10 a share and the company is earning 5 million dollars a year, and there are 20 million shares outstanding, what is the price earnings ratio? What is the market cap? 4. Please read the attached commencement address given by Steve Jobs at Stanford University in 2005. Tell me how Mr. Jobs' abilities, character and personality relate to the characteristics we discussed that were essential to being a successful entrepreneur? Are there any attributes that he is lacking? 5. What is intellectual property? Give an example of each of the following: patent, copyright, trademark, trade secret. 6. There are 4 key components in the marketing process: rapport, needs, benefits, close. Please explain how these play a role in the ultimate sale