Month: October 2019

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

Lucy needed to protect her design by using a patent. What is a possible benefit of a patent?
A patent ………

Select ONE answer:

1. Is an insurance policy that provides protection for 20 years
2. Prevents other businesses from using the brand name
3. Establishes sole rights to the use of a product
4. Ensures that a business will not make any losses

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

Lucy needed to protect her design by using a patent. What is a possible benefit of a patent?
A patent ………

Select ONE answer:

1. Is an insurance policy that provides protection for 20 years
2. Prevents other businesses from using the brand name
3. Provides proof of ownership of an invention or process
4. Ensures that a business will not make any losses

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

Lucy needs high-quality employees.

Which ONE of the following is a desirable employee attitude?

Select ONE answer:

1. Has worked in a retail shop for 10 years
2. Being prepared to work as part of a team
3. Has five GCSEs including English and Maths
4. An ability to operate different machinery

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

Lucy needs high-quality employees.

Which ONE of the following is a desirable employee attitude?

Select ONE answer:

1. Has worked in a retail shop for 10 years
2. A willingness to undertake training
3. Has five GCSEs including English and Maths
4. An ability to operate different machinery

Show the workings to arrive at your answer, and explain and justify your reasons:

Lucy started a business called StaffordWelly. It makes boots with a high heel to appeal to women and festival-goers.

Lucy wanted to expand StaffordWelly but needed additional capital. They appeared on the television programme SharkTank.

One of the venture capitalists (a Dragon) invested £500 000 for a 20% stake in the business.

Which ONE of the following is a disadvantage to Lucy of a venture capitalist investing in her business?

Select ONE answer:

1. It will reduce the control of the existing owners
2. The venture capitalist risks losing their investment
3. Higher corporation tax will need to be paid
4. The risk of WedgeWelly failing is reduced

Show the workings to arrive at your answer, and explain and justify your reasons: