AEM1230-1104ToPost - AEM1230 Principles of Entrepreneurship...

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AEM1230 Principles of Entrepreneurship and Business Wednesday 11/4 Intellectual Property and Entrepreneurship New product development, imitation and the startup Forms of intellectual property The leadership advantage
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Reminders Monday November 9 th Deadline for submitting second business idea assignment Monday November 9 th Quiz #5 Monday November 16 th Deadline for declaring business idea project Monday November 16 th Quiz #6
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Intellectual Property The core ideas about a new product or service The only advantages (most of the time) entrepreneurs have over established firms
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Hans Severiens – Band of Angels So frequently right now today, we are looking at deals that, specific example, there is a company called KLA-Tencor, which is located in Silicon Valley and they make instruments that inspect semiconductor radicals, the negatives through which you make exposures, but they also expect the way for themselves once it has been made and manufactured. It is a very important thing and they got 80% of the market. Making an instrument in that business it is an expensive thing. The customers expect you to run trials for them for maybe a year because it goes right in the middle of their production line, and their whole production line shuts down if your devices don't work. Yet, again and again I see wonderful proposals from people with wonderful ideas, but you just know going up against KLA is a hopeless task. So, now, does it mean it cannot be done? Yeah, it could be done probably but it is going to require a lot of money and it has got to be an outstanding idea for it to work. So, a deal like that you look a bit askance at it would be the best way to put it. If the marketplace is more diverse at eight or nine or ten different entrants, nobody has a commanding position. Well, then it is much better. Well, then maybe you can wedge yourself into that and get established. Of course, keep in mind most of these acquisitions are eventually liquidated by-- mostly companies become liquid for their investment by being acquired by an existing player in the business. In this respect, I think there is hope for the entrepreneur that, you know, with and Deborah and I talked about this, but with the current fascination in Wall Street on quarterly earnings performance, research and development is kind of the stepchild, and people are really not terribly interested in developing new products. You can see it in the telecom industry, Bell Labs is really not Bell Labs anymore. It really had been destroyed and GE Lab is not anywhere near what it used to be 30, 40 years ago. So, IBM is still pretty good. So, the country really for new ideas it depends on entrepreneurs to come up and start these new businesses. There is a need
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AEM1230-1104ToPost - AEM1230 Principles of Entrepreneurship...

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