Submit a response to the following. Treat the question as an essay exam.

• Explain the difference between personal property and real property and why it may be important to a business.(Hint: You need to give complete detailed definitions of both real property and personal property.Give a minimum of one example of each type of property. You need to explain why it may be important to know the difference.For example, if you were buying all the real property of a business what would be included?
• Explain how the rules regarding intellectual property may affect how you do business. (Hint: Define each type of "intellectual property."Give examples of the value of intellectual property and what you would need to do to protect your property.You need to discuss what you need to do not to get sued for using someone else's intellectual property.