Love. How to start an Business in USA Essay Example | Topics and Well Written Essays - 1250 words

Love. How to start an Business in USA - Essay Example This paper will demonstrate how to start a business in Chicago, Illinois and also acts as a basic guideline for an individual who has yet to go through an actual implementation process. This paper is based on the research carried out to reveal the steps which are necessary to be taken when starting a retail pharmacy business in Chicago. The importance of intellectual property (IP) should be recognized thoroughly by a start-up business owner. IP is actually a legal concept and is sadly, poorly misunderstood by many people who wish to start their own businesses and think that this concept can only be appropriately applied by those people who are legal experts. Every enterprise, company or business organization should pay attention to IP. IP can help the owners at every stage of business development â€Å"from product development to product design, from service delivery to marketing, and from raising financial resources to exporting or expanding your business abroad† (World Intellectual Property Organization, n.d.). in order to maximize the benefits, business owners should know how to use the IP system. It is worth mentioning that in case IP being used belongs to others, then rights have to be acquired to use it by obtaining a license so that forthcoming disputes and litigation could be avoided by the novice in dividuals intent on establishing personal businesses. IP is also important to a business because it helps in copyright protection and get fair economic awards on grounds of a business’s individual creativity and product sales. Retail pharmacy is recognized as one of the mainstream profitable businesses in entire USA. But, area requirements should be deeply understood and assessed before implementing and operating any business concept, According to Woodfield (2012), State of Illinois Business Portal suggests that before