A New Venture Team Is the Group of Founders, Key

question 68

True/False

A new venture team is the group of founders, key employees, and advisers that move a new venture from an idea to a fully functioning firm.

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Definitions:

Implied Warranty

A legal assumption that a product will meet basic standards of quality and functionality, even if not expressly stated.

Merchantable

A quality of goods being fit for the purpose for which such goods are ordinarily used, a requirement for sales under many commercial laws.

Trade or Market

generally refers to a specific area or industry where goods and services are bought and sold.

Fit for Particular Purpose(s)

A legal concept that implies a sold item is suitable for the specific use intended by the buyer, which the seller is aware of.