Corey and Clarence 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 about where they are at this point:

• They know they want to have a business together to develop and market their widget. They are trying to decide if they should form a limited liability company (LLC) or a C Corporation.
• They have a business name selected which is unique according to their research.
• They have a unique name for the widget.
• They have designed a logo for the business.

Write an essay that advises Corey and Clarence of the following:

1. Explain the pros and cons of an LLC versus a C Corporation, and advise which of these 2 structures is the best choice for Corey and Clarence.
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

Your essay must include credible sources fully cited in APA format. Failure to cite your sources will result in loss of some or all credit for this essay. 

 

RUBRIC GUIDELINE - 50 POINTS

	Fully meets w/o error	Substantially meets with minimal errors	Meets at least 50% of question or no more than 4 errors in mechanics item	Some points made, less than 50% accuracy	Answer not given, no sources cited
Corp Structure 20 points	20	15	10	5	0
2 IP fully explained that relate to facts provided      20 points	20	15	10	5	0
Grammar, mechanics, APA citations, and credible sources 10 points	10	8	6	4	0