Ch#9 Small Business And Entrepreneurship

Question 1

What are the problems of small business

Answer 1

Finance
Raw materials
Managerial skills
Labour
Marketing
Quality
Capacity utilisation
Technology
Sickness
Global competition

Question 2

What are the characteristics of entrepreneurship?

Answer 2

Systematic activity
Lawful and purposeful activity
Innovation
Organisation of production
Risk taking

Question 3

Startup india initiative: action points

Answer 3

Simplification and hand holding
Startup india hub
Legal support and fast tracking patent examination
Easy exit
Harnessing private sector for incubator set up
Tax exemption

Question 4

Ways to fund startup

Answer 4

Boot strapping
Crowd funding
Angel investment
Venture capital
Business incubators and accelerators
Micro finance and NFBCs

Question 5

Explain the term intellectual property rights

Answer 5

All inventions of creations begin with an idea once the idea becomes an actual product that is intellectual property one can apply to the authority concerned under the government of india for protection. Legal rights conferred on such products are called intellectual property rights. Intellectual property refers to the products of human mind hence jus like other types of property the owners of IP can rent, give or sell it to other people

Question 6

What are the different types of IPs

Answer 6

Copyright
Trademark
Geographical indication
Patent
Design
Plant variety
Semiconductor integrated circuits layout design