In this module, you'll look at the role of the entrepreneur as a leader and the developer of his or her entrepreneurial team. In many new business ventures, the founder never had previous leadership training or responsibility. In order to increase the possibility of achieving success an entrepreneur will need to become a leader who establishes a strong and positive high performance organizational culture. Early into the operations of the new business the entrepreneurs must surround themselves with a team of employees who have the required skills and compatibility with the organizational culture created by the founder. High performance expectations don't establish themselves. They are a product of the founder as leader who must focus on the achievement of outcomes that are essential to the success of the business.

The legal structure of the business is dependent on a wide variety of conditions. When working with an attorney and accountant the entrepreneur will need to choose a form of ownership prior to start-up that best meet the needs of the firm. There is no one best form of ownership.

Once in operation, the entrepreneur will need to become knowledgeable of important issues including the various forms of protection of the firm’s intellectual properties. Understanding patents, trademarks, and copyrights will provide the entrepreneur with a “heads up” as to when to obtain legal advice regarding protection of these assets and their enforcement. All businesses are responsible for conducting their operations within the laws in which they operate. Understanding the basics of contract law serves to avoid situations that could harm the business.