ENTRP426-Entrepreneurial Finance Exam #1 Spring 2023 the cooperative and exchange babysitting services. Although they were not particularly interested in committing to trading babysitting favors as their children were quickly approaching the age where babysitting services would be unnecessary, Dick and Barbara felt socially obliged to attend the meeting with their two children. Eight other families came to the meeting playing, to the organizer, a CPA, explain how the formal accounting for exchanged sitting services would take After a brief period of social exchange, Dick and Barbara listened, as much as possible over the din of children place. Using specially marked, yet ordinary, poker chips as currency, members of the cooperative would receive sitting services were received, payment was required, rounded to the nearest 15 minutes, in poker chips. an endowment of chips with various colors corresponding to 60 minutes, 30 minutes, and 15 minutes. When baby- Conveniently, no family would need to keep records of whom or how much they owed. With the creation of baby- sitting them to join, the cooperative was launched although Dick and Barbara declined to join. Reflecting on some bad previous experiences with not-for-profit organizations, the couple debated on the drive home what could be done to satisfy their concerns. Dick was wondering how the organization could formally barter services among themselves without organizing as a formal barter exchange and recognizing the receipt of poker chips as income. Barbara was more concerned about babysitting for, or by, parents with which she had only a passing acquaintance. Even if the barter arrangement were shielded from taxation (an item also not discussed), they both contemplated who would be liable in the event of mishaps. 2. What type of an organization is necessary and best for the babysitting cooperative and why? b. Is there potential for liability for members other than those directly involved and why? c. Discuss different organizational structures for Babysitter Collective and their (dis)advantages. d. What intellectual property protection is appropriate for their materials, organization name, and approach?