Reading Reflection Week #5

1)    What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations? 

·         While I understand protecting trade secrets, I was reminded how important it is to beware of technology today – especially mobile devices. I have been in airports and other public venues where I hear all types of business conversations. I don’t actively listen, but I can see how trade secrets or other proprietary information could be stolen from mobile devices. It is extremely important when seeking to start your own business or if you have an innovative idea that you hope to launch.

2)    Identify at least one part of the reading that was confusing to you.

·         Because I have been in Human Resources where labor laws, tax and business structure information is used and where patents infringements and copyrights is part of the HR education, I wasn’t confused by this chapter. However, I always am confused by our government (IRS) continually trying to strangle the life out of small businesses. I completely support honestly in business practices while using every available tax credit and deduction that is legally allowable. Small businesses are the engine of job growth in our economy, and we need to ensure that small businesses are poised to start, grow and create jobs.

3)    If you were able to ask two questions to the author, what would you ask? Why?

·         First, I would ask the author how one would get their business off the ground without all the legal entanglements. For instance, an entrepreneur seems to me to be one that has an idea and wants to run with it before someone else figures it out – so how would one get it up and running or launched without having to worry with all the legal challenges.

·         My next question would be: What would be your advice on partnerships? I have a successful entrepreneur friend who said never have a partner. I am assuming he is saying it because of a bad experience, but do you have any advice on partnerships other than what you listed in the text. I am considering launching a company with a family member but would like some advice as to whether that is a good business decision.

4)    Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?

·         Of course, not being an attorney, there isn’t much I could disagree with in the text regarding the legal challenges. As I look at all these legal challenges that entrepreneurs face, I would say that a great tool would be an Entrepreneur for Dummies book (oh, wait – there is one). This chapter clearly paints a picture of the need for an attorney while setting up your business.