Assignment 2: Successfully Funding Your Business VentureDue Week 8 and worth 280 pointsFor Assignment 1, you imagined that you were going to start a company that offered an innovativeproduct or service. In Assignment 1 you also determined the business structure you would use for thatventure. For this assignment, you can use that same idea and structure or imagine different ones. Usethe Internet and the Strayer Online Library to locate any additional information needed to complete thisassignment.Write a six to eight (6-8) page paper in which you:1. Determine the steps you would need to take to officially establish your company with the businessstructure that you feel is most appropriate. For each of those steps, be sure to include specificsthat are relevant to your market and geographic area.2. Examine at least three (3) funding sources that might be appropriate for your business. Describewhat those sources of capital are, and explain the pros and cons of each.3. Select the funding source that you believe to be the best fit for your business and explain why.4. Determine the form(s) of intellectual property that you will have to protect when starting yourbusiness. Develop a plan to protect these intellectual properties.5. Choose one (1) of the following approaches: Assume you decide to revamp your product orservice so that it is completely virtual / online and concentrates on fulfilling a social need. Proposetwo (2) ways that you would need to alter your preferred funding sources and explain why.Determine whether you would or would not have additional forms of intellectual property toprotect. Support your decision. Or If your initial business product or service was alreadycompletely online and geared toward social entrepreneurship, determine ways that you mightneed to revise your funding and protection of intellectual property had your company not beenrooted in social entrepreneurship and had a physical location.6. Imagine that you established your initial idea for a company and have been successfullyoperating for five years (5). Describe how your hypothetical need for capital changed over theyears. Determine which sources of funding would be the most appropriate if you wanted to raisecapital to expand your hypothetical business. Examine how, if at all, those funding sources mighthave differed from those needed in early stage funding.7. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and otherWebsites do not qualify as academic resources.Your assignment must follow these formatting requirements:? Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on allsides; citations and references must follow APA or school-specific format. Check with yourprofessor for any additional instructions.? Include a cover page containing the title of the assignment, the student’s name, the professor’sname, the course title, and the date. The cover page and the reference page are not included inthe required assignment page length.The specific course learning outcomes associated with this assignment are:? Examine the process of developing a business plan and setting up the company.? Analyze money sources for finding and managing funds.? Compare the different forms of intellectual property and how they differ.? Use technology and information resources to research issues in entrepreneurship.? Write clearly and concisely about entrepreneurship using proper writing mechanics.-==============================INSTRUCTIONAL MATERIALSRequired ResourcesKaplan, J. M., & Warren, A. C. (2013). Patterns of entrepreneurship management (4th ed.). Danvers, MA:John Wiley & Sons.Supplemental ResourcesFast Company. (2013). General format. Retrieved from www.fastcompany.comHess, E. D. (2012). Grow to greatness: Smart growth for entrepreneurial businesses. Stanford, CA:Stanford University Press.Inc. Magazine. (2013).General format. Retrieved from www.inc.com===============================Please use the same business and follow the paper instructions by typing the questions first and then the answers. Please refer to order number: PPa 250414_137386_2. (Forming an Innovative Business)