BOX 7.1 ABOUT FRANCHISING

Many new small business owners choose franchising over starting a new business because it provides easy access to an established product, reduces many of the risks involved in opening a new business, gives access to proven marketing methods, and, in some instances, furnishes assistance in obtaining startup capital from financing sources.

BOX 7.2: WHAT YOU SHOULD KNOW ABOUT INTELLECTUAL PROPERTY

Do you have a strategy to protect your company’s intellectual property while making sales in international markets? If not, consider the following:

  • A foreign company can appropriate your intellectual property in a foreign country before your company has even marketed in that country or in the United States.
  • The processes for applying for intellectual property protection differ from country to country. Although effective intellectual property management should be a key element of every company’s day-to-day business strategy, it is essential when doing business internationally.