7 Which are the most important factors to consider when choosing a business name: Keep it short and simple Make it positive and memorable Make it descriptive and yet broad All of the above 8 Which of the following is true about trademarks? You cannot do business in any state in the U.S. without a registered trademark If you do business without a trademark you have no protection in your local market A trademark can include a symbol, a design, a color, a phrase or a sound Once you secure a national trademark it is good for all categories of business 9 Which statement below is the most important thing to do when you first start a new business venture: Find a strong name and make sure it is available for use in your business Make sure the web domain name is available for the business name you have chosen Understand trademarks and file for one if you are serious about building your company All of the above should be considered and taken care of early on in your business 10 The best way to prove your concept and stabilize your company in the early stages is to: Concentrate all of your efforts on developing an extensive sales and marketing programs Find talented sales people and pay them commission to sell your products Obtain addition funding from banks or investors so you can scale quickly Use low-cost marketing strategies to build a core group of customers to buy your initial product and produce cash flow 11 Which of the following is an effective low-cost marketing strategy? Distributing coupons, flyers and handouts in your local trade area Using social media sites like Facebook, Instagram, Twitter, and YouTube Using cross promotions with other businesses to sell each other's products All the above 12 Which of the following is NOT an effective low-cost marketing strategy? Discounts and free product promotions Banners, posters, and yard signs Radio, television and print ads Building and using email lists to advertise