One of the Primary Functions of a Business Plan Is

question 59

True/False

One of the primary functions of a business plan is to serve as a selling document to convince key individuals that the venture has real potential.

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Definitions:

Legal Fees

Charges billed by attorneys or law firms for legal services rendered.

Intangible Assets

Non-physical assets owned by a business that could include intellectual property rights, brand recognition, and patents.

Trademarks

Symbols, names, phrases, logos, or combinations thereof, legally registered or established by use as representing a company or product.

Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its net assets, representing the value of the brand, customer base, and other non-physical assets.